Phoenix Solar AG Reports Consolidated Earnings Results for Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Outlook for the Year 2017 and 2018
For the nine months, the company's revenues were EUR 63.5 million against EUR 108.3 million for same period a year ago. EBIT loss was EUR 9.3 million against loss of EUR 0.4 million a year ago. Net loss for the period attributable to the shareholders stood at EUR 12.4 million against EUR 3.3 million a year ago. The loss per share thus increased from EUR 0.45 to the current level of EUR 1.68 per share. A EUR 10.3 million cash outflow from operating activities was recorded against inflow of EUR 6.3 million a year ago.
For the year 2017, the company now expects loss before interest and tax come in a range between EUR 10.0 million and EUR 8.0 million. Sales revenue now expects in the range of EUR 90 million to EUR 110 million.
Signed projects - where construction is due to start shortly - has resulted in a significantly increased weighted global project pipeline. This will provide a sound basis for renewed revenue and earnings growth in 2018.