Phoenix Solar AG reported consolidated earnings results for the third quarter and nine months of 2015. For the quarter, the company's reported revenues of EUR 42.4 million compared to EUR 5.5 million a year ago, representing an increase of EUR 34.9 million, which is more than five times higher compared to the figure reported in the third quarter of 2014. This performance was based on a considerable improvement in sales.

For the period, the company's reported revenues of EUR 82.2 million, which is more than four times as much compared to EUR 19.5 million first nine months of fiscal 2014 and over 100% more than in the full-year 2014. The growth of the business is largely attributable to an increase in revenues in the second and third quarters of fiscal 2015. Loss before interest and taxes of EUR 3.5 million compared to EUR 5.7 million a year ago. Operating income of EUR 2.9 million compared to EUR 6.0 million a year ago. Net loss for the period attributable to the shareholders stood at EUR 6.4 million, thereby improving by around 40% compared to the period from January to September 2014. The loss per share was reduced accordingly from EUR 1.40 for the nine months of 2014 to currently EUR 0.86. Due to the resumed business growth and the improved consolidated net result for the period, cash flow from operating activities turned positive again for the first nine months of 2015, amounting to EUR 2.3 million compared to cash used in operations of EUR 4.5 million a year ago.

For the year 2015, the company expects to generate a considerable revenue growth for the full year 2015 also with revenues coming in at the lower end of the EUR 140 million to EUR 160 million forecast range. Group will achieve EBIT in a range between in negative amount of EUR 1 million and positive amount of EUR 1 million.