aleo solar AG generates annual revenue of EUR 462 million in 2011

The company had previously anticipated annual revenue of EUR 440 million.

Oldenburg, Prenzlau, 17 January 2012. aleo solar AG [ISIN: DE000A0JM634] today announced that, based on preliminary calculations, it expects to have achieved revenue of EUR 462 million in financial year 2011. The company had previously anticipated annual revenue of EUR 440 million. Revenue was down 17 percent in 2011 compared to the previous year (EUR 554 million). Foreign business accounted for around 48 percent of revenue in 2011.


As previously announced, aleo solar AG expects to have closed financial year 2011 with negative earnings of EUR 25 to 30 million. In addition to rapidly declining module prices, this is essentially due to the extraordinary settlement of delivery contracts with a cell supplier dating back from 2005 to 2008. "The prices that were fixed for the agreement running until 2019 are more in line with the market", said York zu Putlitz, CEO of aleo solar AG.

Effective 31 December 2011, the company's previous Chief Sales Officer, Norbert Schlesiger, resigned from his post on the Management Board of aleo solar AG in agreement with the Supervisory Board. The Supervisory Board thanks Mr Schlesiger for many years of successful service to the company. There are no plans at this point to appoint someone else to this position. Instead, the related tasks will be assumed by the current Management Board members.

The 2011 annual report containing the final figures is expected to be published on 22 March 2012.

Featured Product

Baja Carports Design-Build Solar Support Systems™

With Baja Carports 35 plus years in the industry installing our Solar Support Systems nationwide and whose founder Bob Hayworth was one of the first to use solar panels as the rooftops on commercial carports ~ is assurance that you will receive Baja expertise in all phases of installation. Our team's diligence makes the design-build process easy for customers. You don't need a set of architecture plans to begin talking to us about your project. Baja's in-house design engineers will work closely with you to meet your project specifications and city's criteria. You'll have our design team's years of experience applied to your plans. Our engineers will deliver a set of stamped plans, which maximize canopy coverage and details the most-effective layout for your business' parking lot.