Phoenix Solar AG announced consolidated earnings results for the first half year and revenues results for the second quarter of fiscal 2017. For the first half year, revenues were EUR 42.4 million, a decrease of 20.5% against EUR 53.3 million a year ago. LBIT reached a level of EUR 7.0 million against EUR 2.4 million a year ago. Net loss for the period attributable to the shareholders stood at EUR 8.6 million against EUR 4.6 million a year ago. The loss per share increased from EUR 0.62 to the current level of EUR 1.17. Cash outflow from operating activities was EUR 4.4 million against cash inflow of EUR 6.1 million a year ago.

For the quarter, the company generated revenues of EUR 28.5 million against EUR 43.4 million a year ago.

For the full year 2017, the Executive Board of the company lowered its 2017 forecast and now expects revenues in the range of EUR 140 million to EUR 170 million (previously: EUR 160 million to EUR 190 million) and an EBIT in a range between loss of EUR 2.0 million to profit of EUR 1.0 million (previously: EUR 1.0 million to EUR 3.0 million).