Phoenix Solar Impacted by Cancellation of PV Plant in China

published: 2015-09-21 18:44 | category: News

Phoenix Solar AG will achieve an operating result before interest and taxes (EBIT) for the fiscal year 2015 below the result anticipated to date. The reason for the correction is the unexpected cancellation by a customer of a major solar power plant in Asia. This PV power plant will now no longer be built.

The company assumed to date that consolidated sales revenues between EUR 140 million and EUR 160 million would generate a positive result before interest and tax (EBIT) of between EUR 1 million and EUR 3 million. While the revenue forecast is confirmed, EBIT is now expected to fall within the range of EUR -1 million and EUR +1 million.

The company assumes at the same time that mid-term this cancellation will not diminish its business prospects. Due to new order intake received during the third quarter of the year, the free order backlog as of September 30, 2015 is expected to surpass EUR 80 million, compared to EUR 102 million as of June 30, 2015. The free order backlog as of the third quarter thus greatly exceeds the pre-year level at September 30, 2014 of EUR 44.1 million , and already extends well into the 2016 fiscal year.

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