News Details
Ad-hoc | 21 March 2007 08:23
Reinecke + Pohl Sun Energy AG: Provisional figures for fiscal year 2006
Reinecke + Pohl Sun Energy AG / Preliminary Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
- Revenues up 19% to € 62.6 million
- Operating result affected by one-off factors
Hamburg, 03/21/2007. According to provisional figures, Reinecke + Pohl Sun
Energy AG recorded revenues totaling € 62.6 million in fiscal year 2006
(previous year: € 52.6 million) – up 19% on 2005. The proportion of
revenues recorded abroad grew to almost 18% in 2006. The Executive Board
initially forecast revenues of € 58 million and EBIT of € -3.8 million for
the year as a whole in its amended forecast in November 2006 as a result of
changes to the market and project cancellations. However, additional
one-off factors made an impact during preparation of the annual financial
statements. The company had to write down receivables from lost projects
and uncollectible accounts receivable as well as from defective modules in
a total amount of € 4.1 million as provisions for risks for the entire
year. The company is currently reviewing asserting its claims in several
cases, which could result in extraordinary income in future. In addition,
inventories were written down in the amount of € 0.8 million in order to
fully take into account the changed situation on the market. The requisite
restructuring activities also led to increased legal and consulting costs
totaling € 1.4 million during the year as a whole. Settlement of a court
case in November also led to additional expenses in the amount of € 0.6
million (see adhoc of 11/24/2006). This caused EBIT to fall to € -6.4
million (previous year: € 4.3 million) according to preliminary figures. As
a result of the restructuring program put in place and the now solid
foundations, the Executive Board is forecasting revenues of € 75 million
and an EBIT of more than € 5 million for 2007. The Executive Board believes
that there are additional opportunities for growth in view of the
long-term, extensive agreements to supply modules of thin-film technology.
An increase of the supply volume by more than 100 % for 2008 is already
contracted.
Information and Explaination of the Issuer to this News:
Detailed information on this disclosure will be provided during the course
of the day as a FAQ on the company’s Web site www.rpse.de under the
Investor Relations section.
Reinecke + Pohl Sun Energy AG
Heike Oelze
Grosse Elbstrasse 45
22767 Hamburg
Tel. 040 / 696528-171
Fax: 040 / 696528-159
e-mail: [email protected]
www.rpse.de
DGAP 21.03.2007
Language: English
Issuer: Reinecke + Pohl Sun Energy AG
Große Elbstraße 45
22767 Hamburg Deutschland
Phone: +49(0)40696528-0
Fax: +49(0)40696528-159
E-mail: [email protected]
www: www.rpse.de
ISIN: DE0005250708
WKN: 525070
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin-Bremen, Stuttgart, München
End of News DGAP News-Service