Phoenix Solar presents 6-point plan for growth

June 24 – Phoenix Solar AG (ETR:PS4) aims to establish a global supply chain function, further reduce its costs per MWp and return to profitable growth as a whole, under its Six Point Plan for 2015 and beyond.

CEO Tim Ryan presented at the annual shareholders’ meeting Tuesday the plan, whose goal is to “consolidate the company’s turnaround”. The firm reaffirms its guidance for low single-digit earnings before interest and tax (EBIT) in 2015 and the one for EUR 140 million (USD 157m) to EUR 160 million in revenues. Its drive for growth will be supported by an improved global sales process, pipeline management and reporting.

Phoenix Solar’s core offering is engineering, procurement and construction (EPC) services for solar projects globally, with more than 1.2 GW of systems and components sold and serviced since 1999. One of the points of the new plan involves the establishment of a global supply chain function. The Germany-based company will aim to ensure competitive purchasing by consolidating equipment volumes via trusted supply partnerships. It explained that extending the network of strategic partnerships among suppliers, project developers, finance partners and investors around the globe will allow Phoenix Solar to leverage opportunities as they arise.

The solar company will also target cost cuts of 6% to 8% annually on a MWp basis. It will be hiring only proven solar industry employees and executives.

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