12.11.2013
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DGAP-News: aleo solar AG closes first nine months of 2013 with a decline in both revenue and earnings
DGAP-News: aleo solar AG / Key word(s): Quarter Results
aleo solar AG closes first nine months of 2013 with a decline in both
revenue and earnings
12.11.2013 / 07:50
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aleo solar AG (ISIN: DE000A0JM634) today announced that it generated
revenue of EUR 99.1 million in the first nine months of 2013, which means
that aleo solar's revenue decreased by 55.5 percent compared with the first
nine months of 2012 (EUR 222.4 million). Earnings before interest and taxes
(EBIT) came in at EUR -38.0 million (EUR -51.5 million), and the EBIT
margin was -38.3 percent (-23.2 percent). Earnings per share amounted to
EUR -3.30 (EUR -4.88); production output fell to 113.4 megawatts (258.2
MW).
Revenue decreased by around 40 percent because demand in the key European
photovoltaic markets was very weak: In Germany, only around 2.7 gigawatts
of photovoltaic output were installed in the first nine months of the year,
compared with 6.2 gigawatts in the corresponding prior-year period. This
sharp decline is mainly attributable to cuts in feed-in tariffs for solar
power. Newly installed capacity in Italy and France decreased even more.
aleo solar AG generated 59.8 percent of its revenue outside of Germany
(58.7 percent). In addition to the weak market, the erosion of prices
continued to put severe pressure on the revenue and margins of aleo solar
AG. Sales prices in the third quarter of 2013 were down about 20 percent
year on year. In contrast, module prices have been more stable in the
current year.
Robert Bosch GmbH, which holds 90.7 percent of aleo solar AG as its main
shareholder, had announced at the end of March that it was exiting the
crystalline photovoltaic sector. An investor process is currently underway
regarding the takeover of the majority shareholding. The most advanced
talks with one of the investors had disrupted in early October on account
of the increasingly challenging situation on the European solar energy
market. This led to the resumption of talks with other potential buyers.
Talks with investors are therefore likely to continue at least until the
first quarter of 2014. We are also examining to sell parts of the Company.
Whether or not there will be a transaction is currently uncertain.
Independent of a transaction, Robert Bosch GmbH has assured aleo solar AG
of financing until the end of March 2014.
Contact:
Corporate Communications
aleo solar AG | Dr. Hermann Iding | Osterstraße 15 | 26122 Oldenburg |
Germany
T +49 (0) 441 219 88 - 390 | F +49 (0) 441 219 88 - 120
E [email protected] | www.aleo-solar.com
End of Corporate News
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12.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: aleo solar AG
Marius-Eriksen Straße 1
17291 Prenzlau
Germany
Phone: +49 (0)3984 8328-0
Fax: +49 (0)3984 8328-115
E-mail: [email protected]
Internet: www.aleo-solar.de
ISIN: DE000A0JM634
WKN: A0JM63
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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239265 12.11.2013
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