Whats the difference between this solar energy as oppose to other solar energy companies out there?
Printable View
Whats the difference between this solar energy as oppose to other solar energy companies out there?
the turnaround of SOLCO is progressing well :
Appendix 4E and Annual Report
http://www.asx.com.au/asxpdf/2008082...9lgzwr95f2.pdf
extract :
Revenues from ordinary activities up 63% to 16,829,930 AUD
Profit from ordinary activities after tax attributable up 105% to 119,405 AUD
Net profit for the period attributable to members up 105% to 119,405 AUD
SOLCO LIMITED (ASX : SOO)
ABN 27 084 656 691
Re: Continued Profit Growth to 31 December 2008
Solco announces the following un-audited financial key performance indicator outcomes for its
operations for the 6 months to 31 December 2008 with comparator performance for the 2 prior
periods:
Relevant Key Performance Indicator 6 month period
01/07/08 to 31/12/08 (Note 1) 01/01/08 to 30/06/08 (Note 2) 01/07/07 to 31/12/07 (Note 3)
Revenue 11,433,020 9,543,637 6,965,755
EBITDA 501,173 392,529 (210,111)
EBIT 477,840 359,735 (240,330)
NP 477,840 359,735 (240,330)
Note 1: Un-audited, Note 2: Audited, Note 3: Reviewed
Despite the global economic downturn, demand for photovoltaic (PV) energy products remains strong,
underpinned by indicated continuing government support for clean energy solutions to assist in
reducing greenhouse gas emissions.
Over the last 6 month period Solco has continued to focus on its core wholesale distribution operations
(Choice Electric) as well as to continue to rationalise non core business lines.
Further, to lend additional strength over forthcoming months to assuring timely execution of the
Company’s strategies, Mr David Richardson has accepted the role of “Director with responsibility for
operational and management development”.
“These are testing economic times for many companies, and despite Solco’s continuing demonstrated
growth and profitability, David’s depth of relevant experience, and more active engagement with the
executive team, will assure Solco is well positioned to continue to drive shareholder value” said Steven
Cole, Solco’s Chairman.
Mark Norman, Solco’s CEO, said “Having worked closely with David in the past, I look forward to both
his leadership and his support as we together tackle the opportunities and issues presenting to the
Solco group.”
____________________
Darren Crawte
Company Secretary
29 January 2009
http://www.solco.com.au/pdf/solco_asx_29_01_2009.pdf
ASX ANNOUNCEMENT 29.04.2009
SOLCO LIMITED (ASX : SOO)
ABN 27 084 656 691
Re: Solar Photovoltaic sales continue to drive growth
Strong Photovoltaic (PV) System demand resulted in sales to customers of $7.89 million during the 3rd
quarter driving total sales for the fiscal year to date of $19.33 million, a 73% uplift on the comparable
period last fiscal year.
Solco’s continued focus on its core wholesale distribution operations (Choice Electric) as well as
continuing to rationalise non-core business lines has been instrumental in profitable growth and
positive net operating cash flows of $1.04 million for the quarter.
Inventory levels of $4.82 million and cash at bank of $3.47 million allow Solco to continue to provide
and purchase in-demand products to service the needs of our customers within the growth driven
market sector of renewable energy.
Trading conditions, EBIT margin levels and product appeal to Australian consumers were assisted by:
• continuing discounting of international pricing in foreign currency terms for silicon based PV
panels due to reduced European demand;
• modest improvement of AUD$ against other currencies over the quarter, although Solco
operates on a fully hedged basis for major international purchases;
• and government sponsored renewable energy rebate initiatives.
The attractiveness of domestic and commercial solar power installations across Australia will continue
to be enhanced if PV panel prices continue to fall and black energy costs rise further. This situation
may lead to increased competition in the Australian green energy market from new domestic and
overseas entrants, especially in light of current difficulties in other sectors and markets. We believe
Solco is well positioned within the Australian market to take advantage of this expected growth and
combat competitive challenges.
With fallout from the world economic crisis continuing and cohesive long-term government energy
polices across all states yet to be delivered, performance growth can not be assured. However,
Solco’s forward order book and continued projected customer demand continues to be strong.
______________________
Darren Crawte
Company Secretary
29 April 2009
http://www.asx.com.au/asxpdf/2009042...d0njnxybc0.pdf
July 28, 2009
Canberra, Australia: Astronergy and Solco Start Marketing Thin Film Modules
Astronergy, a Chint company, and Solco Ltd are combining to bring Astronergy’s range of high quality panels to Australia. This includes Astronergy’s second-generation amorphous / microcrystalline silicon tandem thin film PV (a-Si/µc-Si) modules.
Astronergy has invested US$150 million into solar panel production, both crystalline silicon and thin film. The first 30 MW production of the tandem thin film solar modules will reach full capacity in Q4 this year, while crystalline silicon panels have been in production since 2006. Astronergy’s thin film conversion efficiency has reached 9% currently, and the goal is to achieve 10% conversion efficiency in the near future.
“Whether in terms of technology or in terms of scale, Astronergy is leading the market for high-end thin-film PV modules,” said Dr. Liyou Yang, who is the President and CEO of Astronergy.
Yang spent 20 years in thin-film R&D, including an earlier role at BP Solar. He holds 18 patents in the field.
Launching this collaboration at the Australian industry’s annual ATRAA conference in Canberra, Mark Norman Solco’s CEO and Managing Director said “The collaboration between Astronergy and Solco Ltd’s subsidiary Solco Choice Electric will bring a quality and competitively-priced range of modules onto the Australia market. I am personally convinced that the Astronergy manufacturing process for the traditional crystalline modules is one of the best that I have seen anywhere in the world, and the new thin film product opens up many opportunities for large scale deployment across commercial and industrial rooves and facades.”
Source:
http://www.solarbuzz.com/news/NewsASMA245.htm
ASTRONERGY Homepage
http://www.astronergy.com/
SOLCO Homepage
http://www.solco.com.au/
a new SOLCO / Choice Electric Web Site is available !
Choice Electric Co.
Welcome
Choice Electric Co. is a dynamic solar power wholesale company with over 20 years experience in solar energy equipment. Warehousing facilities on both the East and West coast of Australia support a distribution network that spans the country and extends into the Asia-Pacific region. We are proud of our products and our ongoing commitment to reliability and one-call technical assistance.
We have strong relationships with our many suppliers, as well as with local and state governments, and their representative organisations. This allows us to offer the comprehensive sales knowledge and technical support to back-up the long-term management of systems and installations.
Recently, we have been heavily involved in providing solar systems for schools across the country. To date we have installed over 75 of these systems throughout Western Australia and Queensland, including the remote Torres Strait Islands, and there are more in the pipeline for the future.
http://www.choiceelectric.com.au/index.php
Solco Ltd (ASX: SOO)
ABN 27 084 656 691
Record Profit and Maiden Dividend
Solco continues its corporate and business turnaround to post a record profit of $1.79 million for the fiscal
year 2008/2009 and deliver a maiden unfranked dividend of 0.25 cents per share. The dividend is expected
to be paid on 30 September 2009 for registered shareholders as of 2nd September 2009
http://www.asx.com.au/asxpdf/2009082...xhrl96ffjm.pdf
----
Appendix 4E and Annual Financial Report
Revenues from ordinary activities up 68% to $27,779,135
Profit/ (loss) from ordinary activities after tax attributable to members
up 1400% to $1,791,012
Net profit (loss) for the period attributable to members
up 1400% to $1,791,012
The complete report :
http://www.asx.com.au/asxpdf/2009082...xc69mxvv20.pdf
Looks interesting stockexplorer.
What are you thougths on growth for the next year?
have they peaked given State tax credits will slow?
SOLCO are forecasting $40 mill revenue next year, this is part of sustained growth, not a one off.
----
AUSTRALIA is in for a huge boost in renewable energy after the Federal Government and the Opposition agreed to a deal.
The deal, agreed August 19, 2009, will see the Government's Bill to have 20 per cent of electricity come from renewable sources by 2020.
http://www.news.com.au/heraldsun/sto...02-662,00.html