German PV-suppliers increase revenue by 28% Y/Y in Q2 2011 – VDMA
(SeeNews) – Sep 6, 2011 – German suppliers of photovoltaic (PV) components saw their revenue grow on average by 28% year-on-year in the second quarter of 2011, industry association VDMA reported on Monday.
German PV suppliers have attained an outstanding market position through constant innovation and strong focus on cost-efficiency, Peter Fath, CEO of VDMA PV Equipment, said.
Another reason for the high increase in revenue is the strong demand from Asia, especially China, which amounted to more than 70% of the total sales of Geramn manufacturers. Germany is the second biggest market with a 15% share.
On the other hand, order intake fell by 56% year-on-year in the second quarter of 2011, which will result in a more moderate annual revenue. The decline in investments in the PV sector is a result of built-up overcapacity and subdued PV installation markets in Europe.