aleo solar Annual General Meeting endorses Management Board's strategy
Uwe Bögershausen, aleo solar AG's CFO, informed shareholders about the very dynamic course of business in recent months: "The PV industry has once again settled into its typical seasonal cycle. As a result of the long winter, the elimination of the Spanish market and the financial crisis, the number of new installations has declined. However, we can already see a clear improvement for business in the remainder of the year. In May alone, we were able to match our entire sales for the first quarter of 2009." Incoming orders and existing contracts totaling more than 70 megawatts reflect strong interest in modules from aleo solar AG. Heiner Willers, COO of aleo solar AG, added: "What counts from now on is sales strength. We are expanding our sales organization in the established PV markets and pressing on with our activities in growth markets. Our aleo power network ensures proximity to the customer and direct contact with specialist dealers. This is aleo solar's strength as a premium manufacturer with its own sales force." The aim is to further develop this business model, and the General Meeting has approved the proposal to retain the entire accumulated profits within the company for this purpose.
Jakobus Smit, CEO of aleo solar AG, summed up as follows: "The AGM endorsed our strategy: strength in sales, internationalization, high quality and a strong brand will continue to ensure our future success."
About aleo solar AG
aleo solar AG produces and sells solar modules using silicon cells. It also provides complete solar systems to the global photovoltaic market. The company was founded in 2001 and has been listed in the Frankfurt Stock Exchange's Prime Standard since 2006 (DE000A0JM634). The aleo solar Group currently employs 735 staff. It's manufacturing facilities in Prenzlau (Germany) and two more production sites in Spain and China have an annual capacity of 250 megawatts. The company generated revenue of EUR 360.5 million in 2008.