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
Germany's unemployment increased unexpectedly in August as worsening economic activity weighed on job creation. In addition, consumer price inflation, at a four-and-a-half-year low, boosted the scope for more stimulus from the European Central Bank. The number of people out of work increased by a seasonally adjusted 2,000 persons to 2.901 million in August, the Federal Labor Agency reported. NASA has approved the development of the world's most powerful rocket, designed to take humans beyond Earth orbit and to Mars. NASA officials Wednesday announced they have completed a rigorous review of the Space Launch System (SLS) -- the heavy-lift, exploration class rocket under development - and approved the program's progression from formulation to development, something no other exploration Eurozone economic confidence weakened more-than-expected in August to its lowest level in eight months, underscoring rising pessimism amid heightened geopolitical tensions and stagnating economic recovery. The economic confidence index fell to 100.6 in August, the lowest score since December, from 102.1 in July, the European Commission said Thursday.
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.