Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Q-Cells Reverses To Loss In 2011 - Quick Facts

Q-Cells SE (QCLSF.PK) published its unaudited annual results, reporting fiscal 2011 net loss of 845.8 million euros, as against a profit of 18.9 million euros a year ago. Loss before interest and tax amounted to 717.4 million euros in 2011, due to the unexpectedly difficult economic environment and extraordinary items, while in 2010 EBIT had come to 82.3 million euros.

The company noted that it was forced among others to revise down the value of tangible and intangible assets by 398.5 million euros and take 129.1 million euros in impairment charges on inventories.

Fiscal 2011 sales totaled 1.02 billion euros, thereby surpassing its target of more than 1 billion euros, while the prior year's sales amounted to 1.35 billion euros. Production volumes for 2011 came to around 783 megawatt peak or MWp.

Q-CELLS sees another loss making year in 2012, following intense competitive pressure and consolidation. However, after implementing the financial restructuring and medium-term business plan, the company is expected to return to a positive EBITDA for fiscal 2013.

Click here to receive FREE breaking news email alerts for Q-Cells SE and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.