DGAP-News: Ralos New Energies AG (formerly BGI EcoTech AG) announces 2009 results and guidance
(firmenpresse) - Ralos New Energies AG / Final Results
06.04.2010 12:21
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Ralos New Energies AG (formerly BGI EcoTech AG) announces 2009 results and
guidance
- Consolidated sales 2009 Euro 82.2 million
- Consolidated pre-tax loss of Euro 16.6 million - largely due to
exceptional items
- Adjusted EBIT 2009 minus Euro 1.6 million
- Guidance 2010: Sales of approx. Euro 180 million and EBIT of more than
Euro 10 million expected
- Order book above Euro 40 million, Pipeline of large projects above 150
MWp
Griesheim, April 6, 2010: Ralos - the provider of solar power plants -
announces its 2009 results according to German GAAP (HGB).
Sales amounted to Euro 82 million. Of that approx. Euro 63 million were
sales to the German Small Systems ('GSS') market and approx. Euro 19
million sales into the Global Large Projects ('GLP') segment. 91 percent of
sales went to Germany. Non-recurring expense relating to the integration of
the Ralos Group (Euro 4.1 Million), revaluations of balance sheet items
(Euro 3.1 Million), start-up expense for new subsidiaries (Euro 0.4
million) and the depreciation of goodwill in accordance with HGB (Euro 5.1
Million) caused a pre-tax loss of Euro 16.6 million. The EBIT adjusted by
these items amounted to minus Euro 1.6 million. The financial result was
minus Euro 2.3 million due to the high cost of financing the Ralos
acquisition and working capital.
Comparison with 2008 pro-forma numbers
Prior year numbers according to HGB do not compare well as the Ralos Group
was consolidated only on the 1st of October 2008. The Group has, however,
published pro-forma HGB financial information. This showed consolidated
sales in 2008 of Euro 129.7 Million and an EBIT of Euro 7.2 Million The
decline in EBIT in 2009 was largely caused by the decline in sales by Euro
47.5 million. Sales were lower due to the near-disappearance of the Spanish
market (Ralos sales in Spain declined by approx. Euro 24 million) and the
weak demand in the GSS market in the first half of 2009. In this market,
the strong decline of prices of PV systems caused uncertainty and purchase
restraint in the first half of 2009. This could only partially be
compensated in the second half of the year.
Guidance
Also influenced by the planned reduction of the German EEG-feed in tariff
effective July 1, 2010, we are expecting strong demand in the GSS market
for the first half of 2010. The order book in this segment was above Euro
30 million - far above the prior year value of below Euro 5 million. But
also in the second half of 2010 returns on PV systems should remain
attractive due to the continuing decline of module prices. Accordingly, the
company expects strong and sustainable demand in the GSS market.
In the GLP business, the company has established a very good market
position in the Italian market. In the Northern Italian market for larger
roof systems, sales of the first quarter 2010 amounted to more than Euro 7
million and were thus already higher than the sales of the whole prior
year. The order book lies above Euro 8 million. We are therefore expecting
sales and profits to be far higher than in 2008. In Southern Italy we are
currently marketing approvedprojects with a capacity of more than 10 MWp
and more than 80 MWp are in the development and approval process. The
abolishment of feed-in-tariffs for some free standing systems in Germany
effective October 1, 2010, should provide for favorable market conditions
and the company is expecting several orders in Germany in 2010. Overall,
the GLP pipeline amounts to more than 150 MWp.
'In the current year, we are no longer burdened by exceptional and
integration expense. Our order book amounts to more than Euro 40 million,
our German and international project pipeline is well filled. We are
expecting sales of approx. Euro 180 million and an EBIT of more than Euro
10 million in 2009. Due to our strong international market position these
values should increase again in 2011' said Albert Klein, CEO of Ralos New
Energies AG.
The Management Board
The 2009 annual report of Ralos New Energies AG will be available shortly
on http://bgi.ralos.de/de/investor-relations/finanzberichte/.
About Ralos New Energies AG:
Ralos New Energies AG (formerly BGI EcoTech AG) specialises in the growth
market of regenerative energies, particularly photovoltaics. The company,
which was founded in 1990, is a management holding company. With
subsidiaries and distributors in Germany, Austria, Spain, Italy, Canada,
Czech Republic and Dubai, Ralos is represented in the most important and
potentially fastest growing international markets. Ralos Vertriebs GmbH,
one of Europe's leading systems solutions providers in the field of
photovoltaics, is the company's most important holding.
The company develops, plans, builds and operates innovative photovoltaics
plants, ranging from private solar electricity systems to large-scale
high-output plants of all sizes for industrial clients.
Company contacts:
Registered address:
Dieselstraße 12
64347 Griesheim
Mailing address:
Pfungstädter Str. 100a
64297 Darmstadt
Tel.: +49 (0)6151 95165-0
Fax.: +49 (0)6151 95165-20
info(at)ralos-new-energies.com
www.ralos-new-energies.com
Investor Relations-Contact:
GFEI Aktiengesellschaft
Hamburger Allee 26-28
60486 Frankfurt am Main
Tel.:+49 (0) 69 74 30 37 00
Fax: +49 (0) 69 74 30 37 22
bgi-ecotech(at)gfei.de
www.gfei.de
06.04.2010 12:21 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Ralos New Energies AG
Kuhbergstr. 28
34131 Kassel
Deutschland
Phone: +49 (0)561-93 87 70
Fax: +49 (0)561-93 87 744
E-mail: info(at)ralos-new-energies.com
Internet: www.ralos-new-energies.com
ISIN: DE0005203004
WKN: 520300
Listed: Freiverkehr in Berlin, Stuttgart; Entry Standard in Frankfurt
End of News DGAP News-Service
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Datum: 06.04.2010 - 12:21 Uhr
Sprache: Deutsch
News-ID 18599
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