DGAP-News

Phoenix Solar AG publishes results for 9M/2015

DGAP-News: Phoenix Solar Aktiengesellschaft / Key word(s): 9-month
figures
Phoenix Solar AG publishes results for 9M/2015

05.11.2015 / 08:30

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Phoenix Solar AG publishes results for 9M/2015

- Strong revenue growth to EUR 82.2 million - approximately 400 percent
growth versus previous year period

- In Q3 positive EBIT at EUR 1.1 million; significant improvement in
earnings per share, positive cash flow

- Strong free order backlog at EUR 85.5 million

Sulzemoos, November 5, 2015 / Phoenix Solar AG (ISIN DE000A0BVU93), a
leading international photovoltaic system integrator listed in the Prime
Standard of the Frankfurt Stock Exchange today publishes its financial
report on the first nine months of fiscal 2015.

Performance in the first nine months

In the nine months of fiscal 2015, Phoenix Solar AG generated consolidated
revenues of EUR 82.2 million, which is more than four times as much
compared with the first nine months of fiscal 2014 (9M/2014: EUR 19.5
million) and over 100 percent more than in the full-year 2014. The growth
of the business is largely attributable to an increase in revenues in the
second and third quarters of fiscal 2015. The positive performance - driven
above all by Phoenix Solar's subsidiary in the USA - is in line with the
company's current forecast. Based on the current free order backlog
revenues for the full year are anticipated to be achieved at the lower end
of the EUR 140 million and EUR 160 million forecast range.

In the first nine months of the year, EUR 79.2 million of revenues were
generated by the Power Plants Segment this segment (9M/2014: EUR 7.0
million). Following significantly weaker business trends, especially in
France and Southeast Asia, EUR 3.0 million of revenues were attributable to
the Components & Systems Segment (9M/2014: EUR 12.5 million).

Gross profit stood at EUR 6.5 million during this period (9M/2014: EUR 5.1
million) representing a gross profit margin of 7.9 percent. The comparably
higher gross profit margin in the first nine months of 2014 (9M/2014: 26.1
percent) was due to the fact that the previous year still included the
high-margin European O&M business that exerted a disproportionate impact on
profit and loss as a result of the weak trend in other business during
2014. Between January and September 2015, personnel expenses amounted to
EUR 6.2 million, down 19.0 percent compared with the first nine months of
2014 (9M/2014: EUR 7.7 million). Other operating expenses were also down by
some EUR 2.3 million, from EUR 8.0 million in the first nine months of 2014