The globally operating MAGE SOLAR GROUP looks back at a successful financial year for 2011. The company, with global headquarters in Ravensburg, Germany, earned consolidated revenues of 280 million US-dollars. Fifty percent of the revenue for 2011 was derived from international business, outside of Germany, still the world’s leading solar market in terms of deployment. In 2010, the international sales share was around 40 percent.
Sales of photovoltaic modules rose about 25 percent to over 150 megawatts. Strongest growth areas in the US were component sales as well as US-produced and ARRA-compliant modules. "In 2011, we were able to achieve a solid operational result and strengthen the foundation for our continued sustainable business growth through international expansion," commented Dr. Markus Feil, CEO of MAGE SOLAR AG in Germany.
Last spring, MAGE SOLAR USA started producing UL-listed and ARRA-compliant modules at its Dublin, Georgia, corporate headquarters. Early in the same year, the highly anticipated American version of MAGE SOLAR ACADEMY opened its doors to offer highest quality PV-training and other related PV business classes and workshops.
MAGE SOLAR's continued international expansion strategy led to the company stepping up its presence in a number of foreign markets in 2011. Last year, customers in Great Britain, Greece, Slovenia, Croatia, Austria, Switzerland, South Africa, Australia, South America and the Caribbean were serviced through strategically positioned on-site sales teams, doubling the number of international sales regions to over 20. As a result of increased productivity and sales, the MAGE SOLAR GROUP also was able to expand its workforce by 30% at the end of the year.