Madrid, Spain
Solaria Energia y Medio Ambiente has released its financial results for the full year of 2010. Solaria Energía y Medio Ambiente designs, manufactures, installs and distributes photovoltaic and thermal solutions.
In 2010, Solaria sales figures reached over 161.3 million Euros, which represents 271% increased compared to the same period of 2009, 81% more including non-recurring sales of two plants built in 2008.
One of the most significant facts derived from the figures reported is related to the company’s internationalization ratio which has significantly increased to the 77% of the company’s sales, confirming the business model adopted by Solaria in the last year. While the domestic sector showed a lack of opportunities, Solaria decided to grow into international markets counting its presence now in Germany, Italy, France, UK, Czech Republic, Greece and Latin-America.
By division, the sales mix in 2010 was 67% in PV modules, 24% in projects and 9% in generation, operation and maintenance.
According to the balance sheet figures, Solaria registered €18 million Ebidta, a 44% increase compared to 2009. On the other hand, EBIT stands at €8.9 million while the net profit is €6.5 million, a 166% higher than in 2009.
As part of the results presented, in May 2010 the temporal workforce restructuring schemes were cancelled in the Puertollano and Fuenmayor factories, and all the employees have resumed their normal work, reaching the number of 900 total employees.
Solaria current has a pipeline of projects over 200 MW as a consequence of its presence and development at the international level.
At present, offers for the two plants in which Solaria participates in a 50% in Italy are being received and is expected to be sold in the course of 2011 fiscal year. In addition, two new projects have started: a 3 MW plant in Brazil and the construction of a new plant of 8.5 MW in Italy.
Lastly, in recent months the company’s access to project finance has considerably improved, financing six plants under different structures. The Solar company expects to close additional finance agreements in 2011.
Solaria will continue in 2011 the already started internationalization process, increasing its presence in those markets in which is already operating and entering new markets on the American continent, United Kingdom and Israel.
Basics of Solar Energy!
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