Phoenix Solar AG sets another record in revenues and EBIT in the third quarter of 2008

Sulzemoos, Germany - Phoenix Solar AG (ISIN DE000A0BVU93) has set another record result at the end of the first nine months of the financial year. Accordingly, the Board of Directors has revised its guidance upwards for the entire financial year.

Trend of revenues and EBIT above budget

Over the period from 1 July to 30 September 2008, the Phoenix Solar Group more than doubled its total revenues from domestic and international business. Revenues rose from EUR 73.2 million in the third quarter of 2007 to EUR 149.3 million in the third quarter of 2008 (up 104 percent). This sharp increase was attributable to the Power Plant segment which, with its strong international business, achieved total revenues of EUR 80.9 million (Q3/2007: EUR 43.9 million) and the Components & Systems segment which contributed EUR 68.4 million (Q3/2007: EUR 29.3 million). In the third quarter, 53 percent of revenues were generated by international business. Earnings before interest and taxes (EBIT) soared by 85 percent to EUR 17.6 million in the third quarter of 2008, up from EUR 9.5 million in the previous year

Source: IWR Online, 13 Nov 2008