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© rainer plendl dreamstime.com Electronics Production | April 23, 2014

aleo solar AG records negative earnings in financial year 2013

aleo solar AG [published its 2013 annual report. The company posted revenue of EUR 124.9 million, down by 55.4% from the previous year (EUR 279.9 million).
The 2013 financial year closed with earnings before interest and taxes (EBIT) of EUR -92.0 million (2012: EUR -77.0 million).

The EBIT margin dropped to -73.7 percent (2012: -27.5 percent) and earnings per share fell to EUR -7.46 (2012: EUR -6.48). The preliminary figures announced earlier differ from the final annual financial statements due to the request by Robert Bosch GmbH on 4 February 2014 to liquidate aleo solar AG.

The business of aleo solar AG in 2013 was dominated by sharply contracting photovoltaic markets in Europe. The volume of new PV installations in Germany fell by 57 percent year-on-year. Italy and France saw a similar decline in new installations in 2013.

On 5 February 2014, aleo solar AG entered into an agreement to sell material components of the aleo solar Group’s operating business, including the production site in Prenzlau and the aleo brand, to SCP Solar GmbH, Hamburg. “We are hopeful that the sale will become effective soon,” said York zu Putlitz, CEO of aleo solar AG.

As resolved by the extraordinary annual meeting on 15 April 2014, aleo solar AG will be liquidated. In order to ensure that liquidation proceeds in a socially responsible manner, a reconciliation of interests for the Prenzlau and Oldenburg sites was agreed with the works council.

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