SULZEMOOS (dpa-AFX) - Phoenix Solar AG (PS4G) said for the first nine months of 2014, it incurred an after tax consolidated net loss attributable to the shareholders of the parent company of 11.1 million euros, compared to loss of 8.5 million euros. Loss per share were 1.51 euros, wider than 1.15 euros last year.
Earnings before interest and taxes or EBIT were 5.7 million euros, down from 6.1 million euros, in the prior-year period.
EBIT from continuing operations were 6.8 million euros, compared to 3.1 million euros last year.
In the first nine months of 2014, the firm recorded 19.5 million euros of consolidated revenue, down 83.2 percent from 116.0 million euros last year. This development largely results from considerable delays in order intake planned from the USA.
In view of the company's business performance in the first nine months of the current financial year, Phoenix Solar AG no longer assumes that the goals recently announced for the financial year 2014 can be achieved. The Executive Board has therefore decided to revise its baseline forecast for full-year 2014 downwards, and now assumes that revenues can be achieved within a range of 45 million euros to 55 million euros and operating earnings before interest and taxes or EBIT of between minus 3 million euros and minus 4 million euros.
Previously, the company expected revenues of between 70 million euros 100 million euros and EBIT of 0 million euros to 3 million euros.
Copyright RTT News/dpa-AFX