Phoenix Solar AG reported consolidated earnings results for third quarter and nine months ended September 30, 2017. For the quarter, the company's sales revenues were EUR 21.1 million against EUR 55.0 million for same period a year ago. Loss before interest and tax came in at EUR 2.3 million against earnings of EUR 2.0 million for same period a year ago. The resulting net loss per share was at EUR 0.51 against net profit per share of EUR 0.17 a year ago.

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.