Phoenix Solar AG (PS4.DE) has confirmed preliminary figures, published in March, for the financial year 2007, showing a doubling of total revenue, year-over-year.
Total revenues of the systems integrator with its international operations came to EUR 260 million, compared to EUR 119 million in 2006.
Earnings before interest and taxes (EBIT) rose to EUR 22.3 million, up fromEUR 4.8 million, which is more than fourfold the previous year’s figure.EBIT has reached its highest level in the history of the company, according to a release. The EBIT margin (the ratio of EBIT to sales) of 8.6% also reached a high level (2006: 4.0%).
In the reporting period, consolidated profit after tax came in at EUR 14.5million, up from EUR 3.0 million in 2006, which is an increase of 383%. The number of shares outstanding in the financial year stood at 6,077,000 shares, which brings earnings per share to EUR 2.38, a result which is considerably higher than the previous year’s figure of EUR 0.55.
The Group raised return on equity from 9.1% in 2006 to 30.6% in the reporting year.
As a result of the successful financial year 2007, the Board of Directors and the Supervisory Board have put forward a proposal to the shareholders atthe Annual General Meeting, to be held on 3 June 2008, to double the dividend to EUR 0.20 per share.
About Phoenix Solar AG
Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a photovoltaic systems integrator. Until June 2007, thecompany, which was set up in 1999, went by the name of Phönix SonnenStromAG. Phoenix Solar AG develops, plans, builds and operates large photovoltaic plants and is a specialist wholesalerfor complete power plants, solar modules and accessories. With a sales network which covers the whole ofGermany, and subsidiaries in Spain and Singapore, as well as a participation in Italy, the Group currently has a workforce of more than 170 employees.
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