DGAP-News: S.A.G. Solarstrom AG: S.A.G. Solarstrom AG expands with service subsidiary in the North American growth market
(firmenpresse) - S.A.G. Solarstrom AG / Key word(s): Miscellaneous
12.10.2010 15:33
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Corporate News
S.A.G. Solarstrom AG expands with service subsidiary in the North American
growth market
- S.A.G. Solarstrom AG establishes US subsidiary meteocontrol North
America
- Consistent continuation of profit-oriented foreign expansion
- Confirmation of forecast for the whole of 2010 - sales of between
EUR190 and EUR210 million and EBIT of between EUR8 and EUR11 million
Freiburg i. Br. , October 12, 2010. S.A.G. Solarstrom AG (German security
identification number: 702 100, ISIN: DE0007021008), Freiburg, is
continuing to consistently implement their international expansion strategy
with the foundation of the US subsidiary meteocontrol North America. The
group thus wants to develop the North American photovoltaic market through
their service portfolio and participate in the market's strong growth.
'In the last two years, we have very specifically developed new markets in
Europe for our company and have grown very strongly, yet always in a
controlled and profit-oriented manner', says Dr. Karl Kuhlmann, CEO of
S.A.G. Solarstrom AG. 'We are now continuing to implement this sustainable
growth strategy through our market entry in the USA via our service
subsidiary meteocontrol.'
The North American market for photovoltaics is one of the key markets
around the globe, based on its anticipated high growth rates. The European
industry association EPIA (European Photovoltaic Industry Association)
estimates newly installed power of up to 1 GWp for the USA in the current
year. The total installed power would thus increase to between 2.25 GWp and
2.65 GWp in 2010 and to between 3.45 GWp and 4.65 GWp in 2011.
'There is thus already a relevant market for meteocontrol's service
portfolio in the USA. However, we can also foresee interesting growth
opportunities for the group in this market', says Dr. Karl Kuhlmann. 'By
maintaining a local presence, we will able to minimize barriers to market
entry and expansion costs for the group, so that we will be able to
profitably implement projects in the USA in the future. '
Market entry in North America with focus on service portfolio
For their expansion in the USA, S.A.G. Solarstrom AG is establishing the
subsidiary meteocontrol North America, with headquarters in California.
Business activities are focused on services all along the photovoltaic
value chain, with which the company already has extensive international
expertise. The wholly-owned subsidiary of S.A.G. Solarstrom AG has a
portfolio range that encompasses technical due diligence, yield reports,
construction supervision, plant monitoring, technical operation management
and other services such as solar energy forecasts.
The S.A.G. Solarstrom subsidiary meteocontrol with headquarters in
Augsburg, and operating predominantly in the European market, has already
supervised photovoltaic projects with a total investment volume of over
EUR7 billion. With around 16,000 monitored photovoltaic systems amounting
to a total power of 1.9 GWp, the company is a market leader in professional
photovoltaic system monitoring.
S.A.G. Solarstrom AG continues as planned on profit-oriented growth course
The Executive Board confirmed their forecast for the current reporting year
withsales of between EUR190 and EUR210 million and an EBIT in the range of
between EUR8 and EUR11 million. 'We are well on schedule with all projects,
have a well-filled project pipeline and, with our foreign activities, have
already laid important strategic foundations this year for our future
growth', says Dr. Karl Kuhlmann. 'We are thus continuing to implement the
company's profit-oriented growth course consistently.'
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN:
DE0007021008) of Freiburg i.Br., Germany, are a manufacturer-independent
provider of high-quality photovoltaic plants configured to customers'
individual needs. The group constructs efficient plants of all sizes both
in Germany and abroad. S.A.G. Solarstrom AG also produce solar energy at
their own plants.
S.A.G. Solarstrom AG's service portfolio covers the entire life cycle of
photovoltaic plants, including forecast and energy services, yield reports,
and remote maintenance, as well as insurance and financing. The group thus
offers a comprehensive value chain in photovoltaics, from yield reports,
planning, construction, operations, and monitoring to optimization,
repowering, and deconstruction.
Founded in 1998, S.A.G. Solarstrom AG are considered pioneers in the solar
industry. Around 175 specialists work at the four locations in Germany and
the foreign subsidiaries.
S.A.G. Solarstrom AG are listed in the General Standard of the Frankfurt
Stock Exchange as well as according to the rules and standards M:access of
the Munich Stock Exchange.
Further information: www.solarstromag.com
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Investor Relations / Public Relations
Armin Baltzer
Tel.: +49-(0)761-4770-368
E-mail: ir(at)solarstromag.com
Jutta Lorberg
Tel.: +49-(0)761-4770-311
E-mail: pr(at)solarstromag.com
Contact:
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com
Public Relations / Investor Relations
Jutta Lorberg
phone: +49-(0)761-4770-311
Armin Baltzer
phone: +49-(0)761-4770-368
e-mail: pr(at)solarstromag.com / ir(at)solarstromag.com
12.10.2010 15:33 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: S.A.G. Solarstrom AG
Sasbacher Str. 5
79111 Freiburg
Deutschland
Phone: + 49 761 4770 0
Fax: + 49 761 4770 555
E-mail: mail(at)solarstromag.com
Internet: www.solarstromag.com
ISIN: DE0007021008
WKN: 702100
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Hamburg, München (m:access), Düsseldorf,
Berlin, Stuttgart
End of Announcement DGAP News-Service
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Datum: 12.10.2010 - 15:33 Uhr
Sprache: Deutsch
News-ID 32342
Anzahl Zeichen: 0
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Kategorie:
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