Solarpraxis AG
Solarpraxis AG Adjusts Forecasts for 2013 Financial Result
Solarpraxis AG Adjusts Forecasts for 2013 Financial Result Berlin, Germany, October 17th, 2013 – Solarpraxis AG has adjusted its forecast for its 2013 financial result downwards. The knowledge and service provider, which operates in the renewable energies sectors, is expected to close the current financial year with a higher loss than originally expected. While revenue in the previous year came to around EUR 5.9 million, the company expects revenue to reach around EUR 3.9 million in 2013, representing a year-on-year drop in revenue of just under 34 percent. Among the causes of this decline are the bankruptcy and the reduced willingness to invest of both existing and potential customers, who have been facing a challenging market environment. While Solarpraxis AG has been able to reduce its expenses by around EUR 1.3 million in the current financial year, these savings were unable to fully compensate for the decline in revenue. The company expects revenue to shrink by a further 20 percent in 2014. The Executive Board and Supervisory Board agreed upon a package of measures to achieve additional and significant cost reductions. ‘Even though we have seen encouraging market performance in Japan and China, for example, the global solar industry is still currently experiencing a painful phase of realignment. The installed solar power capacity will continue to grow worldwide in 2014, but many companies in this sector will have to expect a negative operating result once again for 2014,’ explained Karl-Heinz Remmers, CEO of Solarpraxis AG. ‘Despite the challenging conditions, Solarpraxis is well-equipped to handle the changes in the industry. We have managed to quickly adapt our range of products to the changing needs of the industry. Some products, such as our industry publication pv magazine, already have such an international focus that they are benefiting from growth markets around the world. We do see light at the end of the tunnel, but the journey there still is not an easy one.’ Sunbeam GmbH, a wholly-owned subsidiary of Solarpraxis, is expected to generate a positive operating result again in 2013, and the forecasts for 2014 give reason to expect another positive result at this PR agency for renewable energies and energy efficiency. About Solarpraxis AG Contact End of Media Release Issuer: Solarpraxis AG Key word(s): Services 17.10.2013 Dissemination of a Press Release, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Solarpraxis AG | |
Zinnowitzer Str. 1 | ||
10115 Berlin | ||
Germany | ||
Phone: | +49 (0)30 72 62 96 – 300 | |
Fax: | +49 (0)30 72 62 96 – 309 | |
E-mail: | info@solarpraxis.de | |
Internet: | www.solarpraxis.de | |
ISIN: | DE0005495477 | |
WKN: | 549547 | |
Listed: | Freiverkehr in Berlin, München, Stuttgart; Frankfurt in Open Market (Entry Standard) | |
End of News | DGAP-Media |
235060 17.10.2013 |