30 Mar '15, 10am

After 3-years of restructuring Phoenix Solar guides profits in 2015

International PV integrator Phoenix Solar reported its fourth year of consecutive losses and lowest revenue in a decade after completing three years of major restructuring. Image Phoenix Solar Financials PS4 ETR 2.18 -0.05 (-2.11%) 1:10PM GMT+2 International PV integrator Phoenix Solar reported its fourth year of consecutive losses and lowest revenue in a decade after completing three years of major restructuring. Phoenix Solar reported 2014 revenue of €33.8 million, down from €141.2 million in 2013 and in contrast to its record year in 2010 when revenue reached €635 million. Operating earnings (EBIT) was negative €4.6 million, compared to a negative EBIT of €1.4 million in 2013. The key reason for the further decline in sales was due to delays in rebuilding its sales force in its key US and Asian markets. However, management said Phoenix Solar would generate revenue in th...

Full article: http://www.pv-tech.org/news/after_3_years_of_restructurin...

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