ErSol Solar Energy AG continues its growth course in 2006 with a significant earnings increase
Source: ErSol Press Release 21 February 2007
http://www.ersol.de/en/pm.php?type=pm&id=129&year=2007
* Sales doubled in 2006 to € 127.8 million and EBIT to € 20.3 million
* 2007 will be marked by strong expansion activities
* Significant boost in earnings and sales in 2008
* Continued focus on technological progress – cooperation with US company
Silicon Valley Solar Inc. (SVS)
ErSol Solar Energy AG (ErSol), Erfurt has once again closed off the previous financial year with record results. Based on preliminary calculations, consolidated sales grew in 2006 by 98% to € 127.8 million (2005: € 64.4 million) following the Group’s capacity expansion, deliveries already accrued, thanks to the long-term raw materials agreements concluded in 2005, and the integration of the silicon-recycling subsidiary SRS in financial year 2006. Earnings have also shown disproportionate growth despite start-up costs for new business segments: earnings before interest and taxes (EBIT) were more than doubled to € 20.3 million (2005: € 9.5 million) and the EBIT margin grew to 15.9% (2005: 14.7%). ErSol has also recorded a sharp growth in earnings before taxes (EBT): EBT increased to € 19.7 million (2005: € 9.5 million).
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