COLEXON Half-year report 2010
The half-year report of COLEXON Energy GmbH published on August 11 makes it clear: the Hamburg-based solar company linked in to the positive developments of the first quarter and maintained the successful growth of the Group's business both domestically and internationally in the 2nd quarter of 2010. Thus, turnover increased on the previous year by 82% to €109.2 million (c.f. 2009: €60 million) and the result before interest and taxes (EBIT) grew by 50% to €8.6 million (c.f. 2009: €5.7 million euro). With this result COLEXON can look back on the most successful half year in the company's history.
Once again this result shows that the COLEXON Group, concentrating on three business areas, is highly flexible and well positioned to respond appropriately to the general volatility of the solar market. One may take our international project business as an example. The start of construction of a 7.2 MWp solar system in the Czech Republic marked our first step into the eastern European market. In cooperation with our project partner EnerCap Capital Partners, foundations were also laid for further projects in central and southeastern Europe. While project business was largely concentrated on the German market in the first half year, it was possible at the same time to expand international business, which will become the focus in the coming months. Various projects in France, Italy, and the USA are already being planned. While the preliminary investments so far committed to the financing of these projects have been taken into account in the half-year results of 2010, the profits from current project business have not yet been included.
Wholesale sector business has also performed satisfactorily. Here COLEXON benefited in the first half of 2010 from anticipatory effects caused by adaptations to the Renewable Energies Act (EEG) in Germany. The solar power generation segment made a clear positive contribution to the EBIT result thanks to the sunny months of June and July. For the full year 2010 COLEXON forecasts revenues of more than €200 million and an EBIT of €13 to €15 million.
You can download the complete half-year report from the company website here.
Once again this result shows that the COLEXON Group, concentrating on three business areas, is highly flexible and well positioned to respond appropriately to the general volatility of the solar market. One may take our international project business as an example. The start of construction of a 7.2 MWp solar system in the Czech Republic marked our first step into the eastern European market. In cooperation with our project partner EnerCap Capital Partners, foundations were also laid for further projects in central and southeastern Europe. While project business was largely concentrated on the German market in the first half year, it was possible at the same time to expand international business, which will become the focus in the coming months. Various projects in France, Italy, and the USA are already being planned. While the preliminary investments so far committed to the financing of these projects have been taken into account in the half-year results of 2010, the profits from current project business have not yet been included.
Wholesale sector business has also performed satisfactorily. Here COLEXON benefited in the first half of 2010 from anticipatory effects caused by adaptations to the Renewable Energies Act (EEG) in Germany. The solar power generation segment made a clear positive contribution to the EBIT result thanks to the sunny months of June and July. For the full year 2010 COLEXON forecasts revenues of more than €200 million and an EBIT of €13 to €15 million.
You can download the complete half-year report from the company website here.
