Phoenix sees 2014 operating profit

A 3.5MW PV array in Saudi Arabia developed by Phoenix Solar.

A 3.5MW PV array in Saudi Arabia developed by Phoenix Solar.

Troubled German PV system-integrator Phoenix Solar expects rising revenue this year and a return to operating profit in 2014, after its loss more than halved in 2012 amid ongoing restructuring.

The company today reported a decline of almost 50% in module sales in 2012 to 130MW from 257MW in 2011.

Consolidated revenue plunged by 60.5% to €155.4m ($199.4m) in 2012 from a year earlier on account of the decline in solar module prices, with domestic German revenue falling more steeply than international income.

“With the new strategic direction, we have created the conditions for Phoenix Solar to return to profitable growth,” Phoenix CEO Bernd Köhler said. “This strategy is being supported by our banks, which have rolled over our financing for another year early with just a few modifications.”

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