- Consolidated 2016 revenues increase 17%
- Positive EBIT result for the first time in several years
- Excellent gross margin driven by supply chain efforts, despite market price
declines
- Further strong revenue and earnings growth expected for 2017
Sulzemoos, Germany, March 31st, 2017 / Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic system integrator listed on the official market (Prime Standard) of the Frankfurt Stock Exchange, will issue its 2016 Annual Report today, attested by the independent auditor and adopted by the company’s Supervisory Board.
Revenues and Shipments
In the financial year 2016, Phoenix Solar AG generated consolidated revenues of €139.2 million (2015: €119.4 million) an increase of 16.6%. Total solar PV systems installations rose to 153.7 MWp (2015: 98.7 MWp)
Global Regions
The USA continued to be the Company’s strongest sales region in the 2016 financial year. Here we achieved sales revenues of €108.7 million, an increase of €10.7 million, or 11.0% (2015: €98.0 million). Sales growth would have been significantly higher had it not been for an eight month construction delay on one of our large- scale projects. The business in the USA generated a gross profit margin of 12.7% (2015: 7.5%), driven by a concerted effort to upgrade our supply chain team and related activities. The operating EBIT contribution from the US Region (segment result) amounted to €4.6 million (2015: €2.2 million), a major improvement in profitability in the Company’s core market. Supply chain, cost controls and pricing discipline all contributed to this result. The consolidated, weighted project sales pipeline for the US as of December 31st, 2016, was at 252 MWp.
Phoenix Solar Presents Growth and a Return to Operating Profit for the Financial Year 2016
