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
With a substantial decrease in energy prices more than offsetting higher prices for food and shelter, the Labor Department released a report on Wednesday showing an unexpected drop in U.S. consumer prices in the month of August. After ending the previous session notably higher, stocks may show a lack of direction in early trading on Wednesday. The major index futures are currently pointing to a roughly flat open for the markets, with the Dow futures down by just 2 points. Policymakers of the Bank of England split on the rate decision in September as two members repeated their call for a quarter- point hike given the rapid absorption of slack with economic growth. The British unemployment rate continued to fall in July, reaching the lowest since late 2008, and jobless claims declined more than expected in August.
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.