DGAP-News

Phoenix Solar AG announces Q1/2017 results - Seite 3

Outlook

Given the uptick in new order intake and a steadily growing project pipeline, the Company confirms the full year 2017 forecast: the Group will generate between EUR 160 million and EUR 190 million of revenues in the 2017 financial year and a positive EBIT result between EUR 1 million and EUR 3 million.

Tim P. Ryan, Chief Executive Officer of Phoenix Solar AG, stated: "Our principal goal remains top line, profitable growth. We are investing in qualified sales personnel around the world and in improving our pipeline process to generate reliable revenue growth. We achieved a 40 percent revenue increase over the first quarter of last year. The overall project pipeline reflects this trend, having reached a new record weighted level of 350 MWp. The number of shortlisted projects and solid growth in early-phase opportunities indicate clearly that additions of our sales team and sales process improvements are working and will continue to bear fruit. In addition, we continued to invest in both people and processes in supply chain, estimating & bidding and engineering to remain competitive and differentiate our quality services. Finally, we see continued growth in our largest market, the US, and are very well positioned there, based on our pipeline, reputation and a strong record of on-time and on-budget delivery of quality solar power plants to our customers."

First Quarter 2017 Announcement

The announcement on the first three months of 2017 will be published today, May 11th, 2017, electronically and can be downloaded from the website, www.phoenixsolar-group.com, under the Investor Relations, Financial Reports heading.


About Phoenix Solar AG

Phoenix Solar AG, with headquarters in Sulzemoos / Munich, Germany, is an international photovoltaic systems integrator. The Group develops, plans, builds and operates large-scale photovoltaic plants. As an EPC contractor specializing in the design and execution of solar power plants, Phoenix Solar places special emphasis on the "on-time and on-budget" construction and delivery of solar power plants, optimized to deliver superior output. With subsidiaries on three continents, the company has designed and built some 800 MWp of turnkey systems since its founding. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange. www.phoenixsolar-group.com.