aleo solar announces further decline
aleo solar, the struggling German solar company has announced that, based on preliminary calculations, it expects to have achieved revenue of EUR 124.5 million in the financial year 2013.
Revenue was down 55.5 percent in 2013 compared to the previous year (EUR 279.9 million). Foreign business accounted for around 56.9 percent of revenue in 2013. aleo solar AG expects to have closed the financial year 2013 with a net loss of EUR -69.7 million.
Robert Bosch company has already announced the intention to sell all aleo shares as it removes itself from the solar industry. aleo has attempted to turn its fortunes around for the last twelve months but the latest news of further revenue declines following announcements of regional shut downs will only make it more difficult to find buyers for the remaining assets.