Phoenix Solar Aktiengesellschaft / Final Results
22.04.2010 07:02
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Phoenix Solar Aktiengesellschaft confirms the figures for the financial
year 2009
Sulzemoos 22 April 2009 / Phoenix Solar AG (ISIN DE000A0BVU93), a leading
photovoltaic system integrator listed on the TecDAX, is presenting its
Annual Report today, including the consolidated financial statements for
the financial year 2009, drawn up and audited in accordance with the
International Financial Reporting Standards (IFRS). The company thereby
confirms the preliminary figures released on 9 March 2010. Phoenix Solar is
one of the few listed German solar companies which closed the year 2009
with a growth in revenues and a profit. This is affirmation of the
company's flexible business model which operates independently of
manufacturers.
In the reporting year, the Phoenix Solar Group generated total revenues of
EUR 473.0 million (2008: EUR 402.5 million). The Components & Systems
segment contributed EUR 299.0 million (2008: EUR 214.6 million), and the
Power Plants segment EUR 174.0 million (2008: EUR 187.8 million) to total
revenues. The share of international business in revenues came to EUR 27.6
million, which is 5.8 percent.
The sale of modules was raised by almost 70 percent, from 120 megawatts in
2008 to more than 200 megawatts in 2009.
Owing, among other factors, to the sharp declines in solar module prices of
more than 30 percent at their most extreme, earnings before interest and
taxes (EBIT) came to EUR 12.2 million in the reporting year 2009 which is
considerably lower than the year-earlier figure (2008: EUR 33.8 million).
The EBIT margin (ratio of EBIT to revenues) stood at 2.6 percent (2008: 8.4
percent).
Consolidated net income for the period came to EUR 8.6 million (2008: EUR
23.7 million) in the year under review. Based on the average number of
shares, earnings per share posted EUR 1.28 (2008: EUR 3.63).
The Executive Board and Supervisory Board will put forward a proposal to
the Annual General Meeting of Shareholders on 16 June 2010 to pay dividend
of EUR 0.20 per share (2008: EUR 0.30).
The course of the financial year 2010 to date has been strongly influenced
by political discussions about the amendment to the German Renewable Energy
Act (EEG). The expected additional lowering of the feed-in tariff
anticipated at mid-year triggered upfront buying effects in the first
half-year. Despite the long winter with much snowfall, the first quarter
was characterised by significantly brisker installation activity as
compared with the previous year's quarter.
The electronic version of the Annual Report 2009 has been released and can
be downloaded from the company's website at www.phoenixsolar.com under the
Investor Relations, Financial Reports heading. The report on the first
quarter will be published on 11 May 2010.
This is an English translation of the German original. Only the German
version is binding.
About Phoenix Solar AG
Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a
leading international photovoltaic system integrator. With total revenues
of EUR 473 million, the Group achieved an EBIT of EUR 12.2 million in the
financial year 2009. The company develops, plans, builds and takes over the
operation of large-scale photovoltaic plants and is a specialist wholesaler
for complete power plants, solar modules and accessories. The Group is a
leader in photovoltaic system technology. It focuses on the consistent
lowering of system costs. With a sales network throughout Germany, and
subsidiaries in Spain, Italy, Greece, France, Singapore, Oman and
Australia, the Group currently has a workforce of more than 300 employees.
The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the
official market (Prime Standard) of the Frankfurt Stock Exchange and on the
TecDAX, Deutsche Börse AG's technology index.
Kontakt:
Phoenix Solar AG
Anka Leiner
Investor Relations
HirschbergstraÃe 8
D-85254 Sulzemoos
Tel. +49 (0) 8135 938-315
Fax: +49 (0) 8135 938-399
a.leiner@phoenixsolar.de
www.phoenixsolar.de
Amtsgericht München HRB 129117
Ust-ID Nr. DE 812868419
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Language: English
Company: Phoenix Solar Aktiengesellschaft
HirschbergstraÃe 8
85254 Sulzemoos
Deutschland
Phone: +49 (0)8135-938-000
Fax: +49 (0)8135-938-099
E-mail: kontakt@phoenixsolar.de
Internet: http://www.phoenixsolar.de
ISIN: DE000A0BVU93
WKN: A0BVU9
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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DGAP-News: Phoenix Solar Aktiengesellschaft confirms the figures for the financial year 2009
| Source: EQS Group AG