Aug 31, 2011 - German solar photovoltaic systems installer Payom Solar AG (ETR:P1Y) today reported a revenue of EUR 51.1 million (USD 73.8m) for the second quarter of 2011, up from around EUR 40 million a year earlier.
The company also registered a significant increase in revenue as compared with the EUR 2.3 million in revenue booked for the first quarter of 2011.
The rise in revenue was mainly due to a surge in high-margin project business, the company said.
Payom Solar posted earnings before interest and tax (EBIT) of EUR 1.5 million for the second quarter of 2011 versus a loss of EUR 4.2 million registered for the first quarter of the year.
Altogether, the company reported a revenue of EUR 53.4 million and an operating loss of EUR 2.7 million for the first six months of 2011.
Payom Solar expects a recovery of the market in the second half of 2011.