News Article
SYSTAIC Achieves Rapid Growth
SYSTAIC achieves a six-fold increase in 2008 sales to more than EUR 200m
systaic AG continued its rapid growth trend in 2008: According to preliminary calculations, the leading provider of innovative and efficient energy roofs increased corporate sales six times, from EUR 31m (2007) to more than EUR 200m. With a share of about 90%, the key sales generator was the construction of large-scale photovoltaic power plants. The strategic business fields Energy Roof and Automotive also recorded a significant increase in revenue.
Not withstanding unfavorable economic conditions, SYSTAIC plans to continue its growth trend in 2009. The Board of Executives is expecting corporate sales in the region of at least EUR 260m, equaling an increase of 30 % compared to the previous year. In order to handle the construction of large-scale solar power plants more efficiently, systaic AG established a new subsidiary, Enerparc AG. A top-class and internationally experienced management team with outstanding expertise in the area of solar power plants construction in the capacity range exceeding 200 Megawatts could be gained for the company. Enerparc AG is headquartered in Düsseldorf. The operative business is managed by a team of 20 experts in Hamburg.
Heiko Piossek, CFO of systaic AG: “By founding Enerparc AG, we are strengthening our market position in the project business. With its experienced management team, our new subsidiary will focus on the market segment of large-scale solar parks. This step became necessary as systaic AG - due to its high-quality and on-schedule implementation of large solar power plants in Spain - is attracting growing interest from investors and project companies to build even bigger power plants.”
Enerparc AG has concluded far-reaching agreements on the construction of building-integrated solar power plants at a scale of 125 Megawatts with highly reputed and financially strong project partners. The solar modules will be used to form rooftops of greenhouses which Enerparc will be constructing in Sardinia as of spring 2009, thus realizing the biggest building-integrated solar power plant in the world. Project implementation as planned will provide a cumulative sales potential in the region of EUR 450m until end-2010 for the SYSTAIC group. As milestone payments in line with project progress were agreed with the project partners, SYSTAIC will be able to finance the power plants according to the particular state of construction, thus ensuring careful liquidity management.
As previously announced, systaic AG sold its power plants in Spain last year. Until the payment of the residual purchase price is made by the investor, KG Allgemeine Leasing GmbH & Co. (KGAL) in March 2009, an agreement was reached with the banks to extend current credit lines by EUR 18m, thus guaranteeing sufficient financing of the SYSTAIC Group.
Not withstanding unfavorable economic conditions, SYSTAIC plans to continue its growth trend in 2009. The Board of Executives is expecting corporate sales in the region of at least EUR 260m, equaling an increase of 30 % compared to the previous year. In order to handle the construction of large-scale solar power plants more efficiently, systaic AG established a new subsidiary, Enerparc AG. A top-class and internationally experienced management team with outstanding expertise in the area of solar power plants construction in the capacity range exceeding 200 Megawatts could be gained for the company. Enerparc AG is headquartered in Düsseldorf. The operative business is managed by a team of 20 experts in Hamburg.
Heiko Piossek, CFO of systaic AG: “By founding Enerparc AG, we are strengthening our market position in the project business. With its experienced management team, our new subsidiary will focus on the market segment of large-scale solar parks. This step became necessary as systaic AG - due to its high-quality and on-schedule implementation of large solar power plants in Spain - is attracting growing interest from investors and project companies to build even bigger power plants.”
Enerparc AG has concluded far-reaching agreements on the construction of building-integrated solar power plants at a scale of 125 Megawatts with highly reputed and financially strong project partners. The solar modules will be used to form rooftops of greenhouses which Enerparc will be constructing in Sardinia as of spring 2009, thus realizing the biggest building-integrated solar power plant in the world. Project implementation as planned will provide a cumulative sales potential in the region of EUR 450m until end-2010 for the SYSTAIC group. As milestone payments in line with project progress were agreed with the project partners, SYSTAIC will be able to finance the power plants according to the particular state of construction, thus ensuring careful liquidity management.
As previously announced, systaic AG sold its power plants in Spain last year. Until the payment of the residual purchase price is made by the investor, KG Allgemeine Leasing GmbH & Co. (KGAL) in March 2009, an agreement was reached with the banks to extend current credit lines by EUR 18m, thus guaranteeing sufficient financing of the SYSTAIC Group.
