DGAP-News: Fall in demand affects mid-year results of Solutronic
(firmenpresse) - DGAP-News: Solutronic AG / Key word(s): Half Year Results
Fall in demand affects mid-year results of Solutronic
04.08.2011 / 08:25
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Press Release
Fall in demand affects mid-year results of Solutronic
- Turnover of EUR 2.19m; under last year's level (EUR 8.53m)
- EBIT minus EUR 2.35m (same period last year: plus EUR 1.84m)
- Gross profit margin of 34% (41%) in first half-year period
Köngen, 4 August 2011 - Solutronic AG was unable to elude the sharp fall in
demand in the photovoltaic sector in the first half of 2011 and has posted
a loss for the period. With turnover of EUR 2.19m (last year: EUR 8.53m),
EBIT in the first half of 2011 was minus EUR 2.35m (EUR 1.84m). The total
operating result came to around EUR 2.21m (EUR 8.64m). A gross profit of
EUR 0.75m (EUR 3.52m) led to a gross profit margin of 34% (41%).
Uncertainties around future feed-in tariffs in the core markets of Germany
and Italy have led to sharp falls in orders in the entire photovoltaic
sector. 'Our customers are being very cautious in making new investments
because of the current market uncertainties. Many of our buyers have only
slowly gone through high 2010 stock levels in the first half of the year
because of weak demand so have delayed making new orders', said Uwe
Scobel-Freimüller, Solutronic's board member for sales.
The company, which outsources the production of inverters to partner
companies, has reacted to the current market situation by reducing
production accordingly in consultation with its partners. 'The advantages
of our scalable business model will become particularly clear in the
current situation', said Wieland Scheuerle, Solutronic's founder and board
member for development and technology. 'We are able to be very prompt and
flexible in reacting to changing demand conditions because of our business
model.' The company's liquidity is secure despite the fall in demand due to
the fact that production is outsourced and as such the company has low
fixed costs.
To compensate for the weak demand in the core markets, Solutronic is
driving forward the company's international profile. The first successes
were already seen in the first half of 2011 with installations in Israel
and Greece. Furthermore, in terms of commercial use of photovoltaic
installations, the company fitted several industrial roofs with global
inverters in Great Britain and Italy. Overall, Solutronic sold global
inverters with a capacity of 11 megawatts in the first half of 2011.
The Australian market remains a focus of the international strategy.
Although the market introduction of Solutronic global inverters was
delayed, Uwe Scobel-Freimüller remains optimistic about prospects in
Australia: 'As a result of the flood disaster in Queensland in spring 2011
the technical requirements for global inverters changed. However, we
reacted swiftly to these new circumstances and aligned our product
portfolio accordingly.' The introduction of a new global inverter which is
customised to the Australian market is planned for the fourth quarter of
2011.
In light of the development of demand in the first half of the year, and
the market trend in the second half of 2011 which at this stage is hard to
predict, Solutronic expects turnover and profit for the full year to be
under last year's levels.
Solutronic AG's results for the first half of 2011 willbe published in
line with the financial calendar on 31 August 2011 on the company's website
www.solutronic.de.
Press contact:
Stefanie Hempel
Tel: +49 (0) 174 3010530
s.hempel(at)solutronic.de
Investor Relations contact:
Thorsten Soll
Tel: +49 (0) 7024 96 128 74
T.Soll(at)solutronic.de
About Solutronic AG
Solutronic AG, founded back in 2004, develops and markets transformerless,
grid-connected inverters for photovoltaic installations. PV inverters
convert the direct current generated by solar modules to alternating
current so that it can be fed into the power supply system. In FY 2010,
Solutronic generated sales of EUR20.1m and posted an EBIT amounting to
EUR4.7m. Solutronic has made a conscious decision not to manufacture the
products it develops itself, but to exploit the expertise of electronic
manufacturing servicers headquartered in Germany. Based in the small town
of Köngen near Stuttgart, Germany, it sees itself as a leading supplier of
top-quality, cutting-edge, grid-connected inverters for photovoltaic
installations. Its inverters, which cover nominal AC power ratings from 2.5
to 30 kW, are software-controlled and therefore facilitate innovative
monitoring and communications functions. Furthermore, they feature high
efficiency levels of up to 98% and extremely low failure rates. Thanks to
its development expertise, innovative business model and sophisticated
quality management regime, Solutronic is in an excellent position to
systematically expand its share of the global inverter market.
End of Corporate News
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04.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Solutronic AG
Küferstrasse 18
73257 Köngen
Germany
Phone: 07024 96128-0
Fax: 07024 96128-50
E-mail: info(at)solutronic.de
Internet: www.solutronic.de
ISIN: DE000A1E8NE7
WKN: A1E8NE
Listed: Freiverkehr in Berlin, Düsseldorf, München; Entry Standard
in Frankfurt
End of News DGAP News-Service
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134401 04.08.2011
Datum: 04.08.2011 - 08:25 Uhr
Sprache: Deutsch
News-ID 41807
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Kategorie:
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