Phoenix Solar reports lower annual net loss, provides guidance for 2016

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14 April 2016, Nuclear, Solar, Wind

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Revenues for the year ended December 31, 2015 were E119.41 million, compared to E33.78 million for the year ended December 31, 2014.

Gross profit for the year ended December 31, 2015 was E9.98 million, compared to E5.73 million for the year ended December 31, 2014.

Consolidated net loss before income taxes for the year ended December 31, 2015 was E5.95 million, compared to a consolidated net loss before income taxes of E9.74 million for the year ended December 31, 2014.

Tim P. Ryan, Group CEO at Phoenix Solar AG, stated: "We achieved significant growth and a strong improvement in our operating business in 2015. We remain focused on building our global project pipeline with a disciplined sales process in our three core trading areas, the US, the Middle East and Asia / Pacific. We are also examining new markets and opportunities along the solar PV value chain for further growth potential. A new initiative on our global supply chain will help to keep system costs competitive and improve margins.

"We are developing our key people as the foundation of our business. Our ultimate goal remains to design and build quality commercial solar PV systems, on-time and on-budget, around the world, to drive owner and investor satisfaction. The demand for differentiated, quality EPC solutions providers such as ourselves remains robust, our future looks bright. Based on these initiatives, we expect further gains in market share in 2016 and beyond to achieve sustainable, profitable growth."

Source: MarketLine

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