Phoenix Solar AG publishes results for the first nine months of 2017

Group revenue (January through September 2017) at € 63.5 million, EBIT: € -9.3 million
Both the weighted global project pipeline at 608 MWp and the free order backlog at € 225.3 million are at record levels – sound basis for new growth in 2018
Tenure of Group CEO Tim P. Ryan extended
2017 full year guidance lowered: sales revenue now expected in the range of € 90 million to € 110 million and EBIT in the range of € -10.0 million and € -8.0 million
Sulzemoos, November 9th, 2017 / Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic system integrator listed on the official market (Prime Standard) of the Frankfurt Stock Exchange, today published its financial report for the third quarter and the first nine months of fiscal 2017.

Performance in the first nine months

In the first nine months of fiscal 2017, Phoenix Solar AG generated consolidated revenues of € 63.5 million, a decrease of 41.4 per cent vs. the first nine months of fiscal 2016 (9 months/2016: € 108.3 million). Sales revenues in the third quarter of € 21.1 million came in 61.6 percent lower than in the third quarter of 2016, when revenues of € 55.0 million were recorded. Shipments in the first half year reached 103.4 MWp, a 11.6 percent decrease vs. pre-year (9 months/2016: 117.0 MWp). New project orders signed in the third quarter – in particular on our core market USA but also in Asia/Pacific – lead to the expectation of a marked revenue increase in 2018.