Solarstrom bullish on 2013 outlook

SAG Solarstrom CEO Karl Kuhlmann

SAG Solarstrom CEO Karl Kuhlmann

German solar developer SAG Solarstrom saw its losses widen in the first quarter – but was upbeat on full-year prospects amid strong project activity, while sounding a warning note over EU duties.

“In 2013, we have been able to continue our positive development from the last two quarters of 2012, which will become clear from our sales and earnings over the course of the year,” says SAG Solarstrom CEO Karl Kuhlmann.

Under current market conditions, the company expects to increase its installation and sales volume in 2013 and achieve a positive operating result, he added.

Sales revenue fell in the first quarter to €19.5m ($25.3m) from €21.4m in the previous year, while earnings before interest and taxes (Ebit) stood at a loss of €2.9m, compared to a €2.8m loss in Log in to read complete article.

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