Solar Millennium posts €6.2 million in net profit
The company’s net profit nearly halved in 2007/2008 fiscal year as a result of the postponed sale of stakes
Solar Millennium has posted a net profit of € 6.2 million with sales of €32.0 million in the 2007/2008 fiscal year.
The company generated the majority of its revenues in the operating business fields project development and technology, mainly from orders for the solar-thermal power plant projects Andasol 1, 2 and 3 in Spain as well as the solar field of the Egyptian hybrid power plant in Kuraymat.
The sale of stakes in the power plant projects, which significantly contributed to reaching the targeted sales and net profits in earlier years, were postponed and as a result, Solar Millenium’s net profit nearly halved compared to the previous year (€ 11.9 million).
Going forward, the company is expecting to conclude a deal for the Andasol 3 project within the next few weeks, and hopes to gain income from several orders for engineering and plant construction at the subsidiaries Flagsol and MAN Solar Millennium.
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