INTERVIEW – Slovenian PV Modules Maker BISOL Group Sees 2012 Net Profit Rising 25%

LJUBLJANA (Slovenia), December 28 (SeeNews) – Slovenian photovoltaic (PV) modules maker BISOL Group plans to generate a net profit of 15 million euro ($19.6 million) next year, up 25% from the 2011 forecast, a member of its board said.

“This year we expect to post 75 million euro of revenues and next year we hope the figure will increase by 27% to 95 million. It should be stressed that the prices of PV modules recorded a continuous decrease in 2011,” Dag Kralj told SeeNews in an emailed interview.

BISOL (www.bisol.com), founded in 2006, is headquartered in Prebold, in central Slovenia.

The company nearly doubled its production output this year and plans to do the same in 2012. BISOL also plans to increase its output capacity. The official declined to give further details but noted that new equipment will have to be purchased for that purpose.

The bulk of the 25 million euro in investment spending budgeted for 2012 will be earmarked for the deployment of PV installations while the remainder will go on raising production capacity.

Export revenues from the 17 markets where the company operates are forecast to reach 65 million euro next year, up from the 50 million expected in 2011.

In 2009 the company opened its first representative office abroad, in Belgium, and continued to expand its international activities by setting up local offices in France and Italy in 2010 and in Germany and the UK in 2011.

Commenting on funding sources eyed by BISOL Group, Kralj said the company is keeping its options open. ”So far commercial banks have been our only source of fresh capital. And we are planning to continue cooperating with them.”

($=0.765 euro)

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