Phoenix Solar Aktiengesellschaft Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Reaffirms Earnings Guidance 2013
For the first nine months of the year, both revenue and earnings lay within the range of expectations. The company generated EUR 116.0 million of consolidated revenue during the first nine months of 2013 compared with EUR 125.1 million for the same period last year, representing a 7.3% decline. This mainly results from the discontinuation of the trading and project business in Germany in its previous form. During the first nine months of the year, the Group incurred a loss before interest and tax (EBIT) of EUR 1.6 million compared with EUR 18.1 million for the same period last year.
The company has again confirmed its full-year consolidated revenue forecast of between EUR 160 million and EUR 190 million. As far as the operating result is concerned, an improvement from a loss of EUR 7 million to a loss of EUR 2 million is forecast, including the restructuring expenses incurred during the first half of the year.