Phoenix Solar AG presented its report on the first half of the 2014 financial year. Its 1H14 revenues dropped to EUR12.1 million, compared to EUR 68.4 million in 1H13. This was mainly resulted from delays in planned orders intake in the USA.
Although being hit by a 82.4% decrease, Phoenix Solar pointed that the revenue for the first quarter still had been in line with the company’s expectations, the figure for the second quarter and the first half year as a whole is below their planning. Operating EBIT amounted to EUR -3.3 million, compared to 1H13’s EUR -3.8 million. In view of the business development over the first six months of the current financial year, Phoenix Solar AG is now assuming that the Group in the 2014 financial year will report revenues in a range between EUR 70 million and EUR 100 million, compared to 2013’s EUR 141.2 million. EBIT are expected in a range of EUR 0 to 3 million, compared to 2013’s EUR -1.4 million.