Phoenix Solar may post op loss in 2015 due to order cancellation

September 18 – German photovoltaic (PV) system integrator Phoenix Solar AG (ETR:PS4) warned on Friday that it may end the year with an operating loss due to the cancellation by a customer of a major solar project in Asia.

The company previously expected to register earnings before interest and tax (EBIT) of between EUR 1 million and EUR 3 million for the full year, but because of the order cancellation now projects a result ranging from a loss of EUR 1 million to a profit of EUR 1 million.

Still, Phoenix Solar reaffirmed its prior forecast for revenues of between EUR 140 million to EUR 160 million.

The company assumes that mid-term the deal termination will not diminish its business prospects. It expects its free order backlog as of September 30, 2015, to be over EUR 80 million and thus to exceed the year earlier level of EUR 44.1 million.

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