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Phoenix Solar AG publishes results for the first half of 2017

  • Substantial order intake in July: weighted global project pipeline reaches more than 500 MWp
  • Revenue for the first half year at € 42.4 million, 20.5 percent lower vs. pre-year; second quarter more than doubled vs. 1Q2017
  • Shipments increased slightly to 66 MWp vs. 63 MWp in 1H2016
  • Gross margin stable at a healthy 10.4%; EBIT for the six monthsat €-7.0 million significantly lower than expected
  • 2017 guidance lowered: sales revenue now expected in a range of € 140 million and € 170 million and EBIT in a range of € -2.0 million and € 1.0 millionSulzemoos, August 10th, 2017 / Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic system integrator listed on the official market (Prime Standard) of the Frankfurt Stock Exchange, today published its financial report for the first six months of fiscal 2017.

    Performance in the first half year

    In the first half year of fiscal 2017, Phoenix Solar AG generated consolidated revenues of € 42.4 million, a decrease of 20.5 per cent vs. the first six months of fiscal 2016 (H1/2016: € 53.3 million). Sales revenues more than doubled to € 28.5 million compared to the first quarter of 2017, when revenues of € 13.8 million were recorded. Shipments in the first half year reached 66 MWp, a slight increase vs. pre-year (H1/2016: 63 MWp). This reflects continued system price reductions in international markets but at the same time a clear sign of steadily increasing competitiveness of our technology. New project orders signed in July – in particular on our core market USA but also in Asia/Pacific – will lead to further revenue growth in the second half of 2017, always on the assumption that projects begin as scheduled.

    In the first six months of 2017, Phoenix Solar generated revenues of
    € 32.8 million in the US, our core market (H1/2016: € 42.6 million), while the Middle East Region contributed revenues of € 5.3 million (H1/2016:
    € 7.1 million). Our Asia/Pacific Region grew by 16.7 percent to € 3.9 million in revenues (H1/2016: € 3.4 million), Europe (excluding our holding company) remained the smallest region with sales of € 0.4 million (H1/2016: € 0.3 million).


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