Aleo Solar AG Reduces its Sales Forecast for 2012 and Makes Further Write-Downs

Date: 11 October 2012
Source: Aleo solar AG

Date: 11 October 2012

aleo solar AG (ISIN: DE000A0JM634) is anticipating consolidated sales to be considerably lower than previously expected, amounting to approximately EUR 280 million, and consolidated profit to decline further for the business year 2012, based on initial indications for the third quarter, which ended on 30 September 2012.The third quarter was marked by negative sales trend, especially on the German, Italian and English solar markets, and special circumstances on the earnings line.

Contrary to expectations, the trend towards weaker business has intensified once again: the price deterioration caused by the tariff reductions has continued on these markets. Accordingly, the company expects turnover to be approximately 50% lower in the third quarter of 2012 than it was in the third quarter of 2011. Due to the change in the environment, the outlook, together with the business or company values of the cash-generating units, was reassessed during the third quarter based on the figures from mid-2012. This resulted in an extraordinary depreciation in asset values of approximately EUR 13 million as of 30 September 2012. Moreover, the termination of the joint venture in China will result in a write-down of approximately EUR 11 million for the holding in the third quarter of 2012.



The company had already reduced its expected turnover from EUR 410 million to EUR 370 million on 2 August 2012. An acceleration in the negative market trend after the second quarter caused aleo solar AG to be much more pessimistic in assessing its expected consolidated sales and results by the end of the year.
600450 Aleo Solar AG Reduces its Sales Forecast for 2012 and Makes Further Write-Downs glassonweb.com

See more news about:

Others also read

MORE...

Construction Employment Declined in Most States in November as Anxiety Over Fiscal Cliff Causes Contractors to Hold Off on Hiring
Hawaii and Texas Top List of 20 States and D.C. Adding Construction Jobs Since November 2011 as Delaware and New York Trail; Vermont and Louisiana Led 19 States with One-Month Gain, D.
Wicona Curtain Walling for Glasgow Velodrome
The Emirates Arena and Sir Chris Hoy Velodrome have just been completed, creating a new world class sporting landmark for Scotland.
The American Scenario in The Glass Industry
The United States is honoring its role, to the best of its ability, as the world's locomotive, although despite the positive performance of the real estate market, America seems to be recovering slower than expected.
Turkish glass producer to expand operations at home and abroad with the help of EBRD loans
The EBRD is providing loans worth €110 million to Turkish glass manufacturer Trakya Cam A.Ş. that will expand its product range at home and in Bulgaria and also establish a presence on the Russian market, setting new standards in energy efficiency.
SAGE Electrochromics, Inc. Files Patent Infringement Lawsuit in U.S. District Court Against View, Inc.
SAGE Electrochromics, Inc., a world leader in the development and manufacture of dynamic glass, located in Faribault, Minn., today announced it has filed a lawsuit in U.S.
Lucintel Identifies APAC as Growth Region for Global Automotive Glass Industry during 2012-2017
Irving, Texas (PRWEB) December 18, 2012 - The global automotive glass industry experienced good growth over the last five years and is expected to grow moderately with a CAGR of 3% over the next five years (2012-2017) to reach revenue of approximately US $17 billion in 2017.

Add new comment