Phoenix Solar AG reported consolidated earnings results for the second quarter and first half ended July 2016. For the quarter, the company generated revenues of EUR 43.4 million compared to EUR 34.8 million representing an increase of 24.6%.

For the first half the company continues to anticipate revenue in a range between EUR 180 million and EUR 210 million for the 2016 financial year, and EBIT between EUR 2 million and around EUR 4 million. LBIT was EUR 2.4 million an improvement of 47.3% versus compared to EUR 4.6 million a year ago. Net loss for the period attributable to the shareholders stood at EUR 4.6 million compared to EUR 6.3 million a year ago. The loss per share was EUR 0.62 compared to EUR 0.85 per share a year ago.

For the full year the company expects revenues in the range of EUR 180 to EUR 210 million compared to EUR 119.4 million a year ago. Positive EBIT of EUR 2.0 to 4.0 million compared to loss before interest and tax of EUR 1.6 million for the full year 2016.