German Solar-Fabrik 9-mo net loss narrows despite revenue drop

Nov 9, 2012 - German solar module maker Solar-Fabrik AG (ETR:SFX) saw yesterday its net loss narrow to EUR 1.5 million (USD 1.9m) for the first nine months of 2012 from EUR 2.9 million a year earlier, despite a revenue decline.

The company moved to loss before interest and tax (LBIT) stood at EUR 986,000 versus earnings before interest and tax (EBIT) of EUR 1.5 million for the first nine months of 2011.

Revenue plunged to EUR 71.9 million from EUR 131.2 million. The Installation business’ sale of turn-key systems accounted for EUR 9 million of that sum, up from the 2011 level of EUR 900,000.

The revenue deterioration is attributable to volume and price decreases. Product sales in the reporting period shrank to 75 MWp from 88.4 MWp a year earlier. Prices dropped by over 30% since the start of 2012 mainly because of lower feed-in-tariffs in the group’s key markets and continued global oversupply.

(EUR 1.00 = USD 1.277)

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