Aug 10, 2011 - German solar technology company Solon SE (ETR:SOO1) said today that its first-half operating result was significantly affected by a drop in revenue.
The company's loss before interest and tax widened to EUR 32.7 million (USD 46.9m) in the first six months of 2011, following a loss of EUR 2.3 million a year earlier.
First-half revenue missed the company's own expectations and stood at EUR 221.9 million, a drop of 8% in annual terms. Revenue in the second quarter amounted to EUR 156.7 million.
Solon's performance in the first half of 2011 was burdened by a weak market environment and demand in Germany which was worse than expected, the company said.
At the end of July, Solon reduced its outlook for full 2011 and now expects revenue of EUR 500 million and a significant operating and net loss.
(EUR 1.0 = USD 1.435)
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