2010 Earnings Update - Better than expected
(Thomson Reuters ONE) -
Eco Supplies Europe AB /
2010 Earnings Update - Better than expected
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Gothenburg, 2011-02-25
Eco Supplies Europe AB ("Eco Supplies" or the "Company") today announced its
preliminary financial results for the full year of 2010, beating its previously
published projections.
The full year result was EUR -0.05m, (2009: EUR -8.89m), most of the loss
incurred from the takeover of Gällivare Solar in July 2010. Thanks to a deep
restructuring, streamlining of processes, new management and a change of client
structure, the Company was able to manage a turnaround already in the third
quarter. Earnings before Tax for Q3 2010 were -0.50m EUR and a pleasant +1.13m
EUR for Q4. The turnover for Q3 was 5.4m EUR, 9.8m EUR in Q4 and full year was
20.8m EUR (2009: 56.51m EUR) with a Gross Margin of 31.5% (2009: 10.3%).
Capacity at the production plant in Gällivare, Lapland was running at 90% of a
total capacity of 50 MW at year end. The Company has confirmed that it fully
expects to meet its previously published 2011 projections.
Eco Supplies' solar division - Eco Supplies Solar - announced its plans to
increase its capacity to 100 MW per annum, effective from Q3 2011. The order
backlog for year 2011 is developing as expected, receiving orders from all over
the world. Due to a steady inflow of orders, the Company has decided to increase
its capacity further. The already announced increase of capacity to 70 MW from
last year will be raised again. The Company also announced that it has signed
2011 orders for almost 20 MW and is near signing orders for another 20 MW of
solar modules, some of which are delivered as part of turnkey solar systems.
Mr. Svante Kumlin, Chairman of Eco Supplies Europe AB, comments:
"In line with the company's future strategy Eco Supplies is currently working on
several deals where the Company will deliver full turn-key solar systems. The
Company will also gradually move from large scale bulk supplies to production of
special building integrated and design products which will allow us to increase
the gross margin on our products and also differentiate ourselves in the
industry as a niche top quality player."
For more information about the Eco Supplies Group, please
visitwww.ecosupplies.eu or contact us via email: info(at)ecosupplies.eu or by
telephone +46 (0)10-207 99 90.
About Eco Supplies Europe AB: visitwww.ecosupplies.eu
Eco Supplies Europe AB is a Swedish holding company that is listed on Deutsche
Börse (www.boerse-frankfurt.de). The company's shares are trading on Xetra under
the ticker 7C0. It is a fast growing company with activities in Renewable Energy
Supplies and Ecological Office Supplies. Solar division established in 1992 and
formerly known under the brand name Gällivare PhotoVoltaic AB, Eco Supplies
Solar was the first company of its kind in northern Europe and it is the largest
Scandinavian producers of high quality Solar Power Modules.
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Eco Supplies Europe AB
Stora Åvägen 21 Askim Sweden
WKN: A0X9L7;ISIN: SE0001717885;
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
Press release (PDF):
http://hugin.info/142396/R/1492510/428324.pdf
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Source: Eco Supplies Europe AB via Thomson Reuters ONE
[HUG#1492510]
Unternehmensinformation / Kurzprofil:
Datum: 25.02.2011 - 14:50 Uhr
Sprache: Deutsch
News-ID 51918
Anzahl Zeichen: 4234
contact information:
Town:
Askim
Kategorie:
Business News
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