H1 sales of photovoltaic modules increased by 1,102% to €43.1 million, while Solaria produced revenues from its turnkey projects line of business of €13.3 million (H1 2009: €0). Sales from its electricity generation business came to €6.3 million – representing a decline of 41% over H1 2009.
Despite the strong increase in its sales, Solaria’s net first-half profit fell to €438,000 (H1 2009: €3.1 million). On an EBITDA level, the company’s profit decreased from €10.1 million to €6.8 million.
Solaria said that, despite a slump in local sales activity, the company’s overall revenues had been driven by international sales, which make up around 70% of total turnover. According to the firm, its previous guidance of estimated sales of €200 million for the entire year, with an EBITDA margin of 15.5%, remains unchanged.
Solaria has also said that it is to start paying dividends to shareholders this month in compliance with a decision taken by its directors in June.
During August Solaria’s shares, which are listed in Madrid, fell by just one euro cent to €1.58, valuing the business at €160 million.
Market: Madrid
Symbol: SLR
Price: €1.58
12-month high/low: €3.09/€1.46
Market cap: €160m
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