UK PV power plant projects boost S.A.G. Solarstrom’s outlook

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With PV power plant projects in the UK topping 44MW, PV energy provider (PVEP) S.A.G. Solarstrom generated sales of €55.4 million in the first quarter.

Multiple projects, despite terrible weather conditions were completed or near completion, boosting the PVEP’s optimism for better business results in 2013.

S.A.G. Solarstrom reported that 54.4% of sales were achieved in its domestic market of Germany in the first quarter, while 45.6% was categorized as abroad. The EBIT was negative €2.9 million, due to the high capital costs of project activity and to the fact that the earnings from the high installation volume in the UK had not yet been realized in the quarter.

Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG said, “In 2013, we have been able to continue our positive development from the last two quarters of 2012, which will become clear from our sales and earnings over the course of the year. However, the market remains challenging in 2013. In particular, the procedure for introducing anti-dumping duties, which in our opinion is completely misguided, could have very negative consequences on the European market for photovoltaic power. Under the current market conditions, we are still anticipating that we will continue to increase our installation and sales volume in 2013 and achieve a positive operating result.”

The noted that its Partner Sales segment only generated sales of €1.5 million in the first quarter of 2013, down from €6.8 million in prior year period, which was said to be due to the ‘continuing competitive pressure on the German market.’ 

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