A contradictory in view of the annual results screen shows the solar industry. While most companies reported the glossy annual reports, the rates bob up on the stock to himself. There are exceptions both beim Geschäftsgang wie an der Börse. Ein exklusiver Überblick von Solarmedia.
Wie stets kurz vor Frühlingsbeginn lüftet sich auch dieses Jahr bereits wieder der Schleier über den Geschäftsgang der Unternehmen. Und da zeigen sich ausserordentliche Zahlen für 2010 – was allerdings nur jene überraschen kann, die das gewaltige Marktwachstum des vergangenen Jahres nicht wahrnehmen wollten. Der weltweite Photovoltaik- (PV) Markt – also die direkte Umwandlung von Sonnenlicht in Strom über PV-Anlagen hat sich schlicht und ergreifend verdoppelt. Installiert wurden gemäss übereinstimmenden Aussagen verschiedener Marktbeobachter rund 16 Gigawatt (GW) an neuer Leistung. Die provide, as mentioned by the way, already as much electricity as two large nuclear power plants.
But back to the PV market: the huge growth expected, left its mark on the big solar companies. Still missing from some renowned figures such as that of the previous market leader First Solar. This has probably pushed from the base of the Chinese Suntech Power 
(the image comes from the state of the art production in China). Closely followed - and that's a big surprise in two ways - by one of the most expensive module manufacturers, the American Sunpower . They not only increase the earnings forecast for the current Year but announced in 2010 a remarkable profit of 179 million U.S. $ according to a turnover of 2.2 billion. This means a return on sales of a classical industrial production companies remarkable eight percent. This also means: There is, meanwhile, globally at least three such companies that have already exceeded the sales threshold of two billion U.S. $
. The good result Sunpower-associated, and this is the second surprise, with a sharp increase in the share price by around 50 percent within six months - but had also left after Sunpower powerful springs. Shiny
another Chinese company: Yingli
will accordingly aggressively expand its capacity. 2010 it has doubled in analogy to the growth of the total market sales of solar modules. Overall, were 1061.6 megawatts have been delivered, told Yingli. When sales reached a new premium sponsor of FC Bayern Munich in the last fiscal year the equivalent of 1.39 billion euros.
are also on German companies before numbers. Solar media reported extensively on the first of profits available from Solar World (see article from). It showed a sales increase of 42 percent sales jump by 29 percent and profit increased by 50 percent. In fact, the German industrial giant to be successful business year look: For the money in annual sales rose in 2010 to 1.3 billion euros, the profit was 89 million euros. 2009 there were 59 million euros. Remember this: Even with Solar World ROS was around seven percent. Networked by contrast, the image at two other major German cell and module manufacturers. Q-Cell's least managed after a disastrous time with the least loss of billions of returning to profitability: sales for 2010 increased compared to the previous year by more than 70% to a total of 1.35 billion euros (2009: 790 4 million €). Operatively showed an EBIT of 82.3 million euros at the end after all, is a gain of 19 million - but also nourished from divested businesses. The turnaround has not yet made it on the other hand Conergy, which made available this Wednesday its financial results: Sales were up specifically by about half to 913 million euro (and thus soon reached the pre-crisis, which had once stood over a billion ). But due to unscheduled depreciation - whatever that may mean for a company undergoing restructuring - resulted in the end a (still) reduced loss of 13 million.
is also to equipment manufacturers already have a very positive result: Centrotherm
just released its figures: The company equips reputable solar companies and industry newcomers with turnkey (turnkey) production lines and individual plants for the manufacture of silicon solar cells and modules and thin film modules. The sales increase was 22.6% (to 624.2 million euros). Operating profit before interest and tax (EBIT) doubled to 75.4 million euros (2009: EUR 37.2 million).
The question remains why the stock exchanges neglect if so many positive messages (with the exception of Conergy), the industry as a whole continues to say the least.
Even in the face of good news hardly came to euphoria, the short-term profits quickly equalized - To extremely low levels. The industry is no doubt, a great deal of uncertainty - and love the inside investor means least, a few speculators least likely to irritate it too. The market value is about a World Solar hardly as much as one year's sales, the price-earnings ratio is 10 to 15, so deep. The uncertain political environment
must first serve for an explanation - the promotion of solar industry is in many countries are on a knife edge. However, the cost reduction potential for the industry is still intact - promising a production that is entirely in the future. The competition China
has to serve also as an explanation - but: Sunpower Solar World and also produce about already in Asia. Perhaps the conflict is simply the explosive success of the industry based, which looked like a huge on on the stock market now the divers -
follow the upward movement will again.
sources: annual reports and press releases from companies
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