7 April 2011

CPV system maker Isofoton’s Q1 revenue up 74% year-on-year

Isofoton S.A. of Malaga, Spain — which was spun off from the Polytechnic University of Madrid in 1981, and has been developing concentrating photovoltaic (CPV) systems since 2001 — has reported revenue of more than €32m in first-quarter 2011, up 74% on a year ago.

Isofoton says that its strong performance and substantial improvement in profit margin have also been underpinned by the ongoing cost cutting that was implemented by the new management team, coupled with enhanced production efficiency (less waste) and improved unit power.

After rolling out a new manufacturing line that will double production capacity, the firm expects to grow revenue further in second-quarter 2011, as it sees a recovery in the German, Italian and US markets, along with other markets. It also aims to double full-year revenue from 2010 to 2011. Over the next three years the firm aims to increase its production capacity fivefold.

Isofoton says that its new sales policy, which calls for expansion into new markets, is serving to both further diversify its customer portfolio and ensure stable sales. As part of the policy, the firm is opening or strengthening sales offices in Germany, Italy, France, the USA, South Korea, China and the Middle East. Isofoton has a presence in more than 60 countries in total.

Tags: Isofoton CPV

Visit: www.isofoton.com

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