Isofoton locks in exceptional results in the first quarter of 2011
Isofoton has made major strides forward, bringing in invoicing of over €32 million in the first quarter of 2011. This exceptional performance is 74% above turnover for the same period of 2010.
The company expects to shore up results even further in the second quarter of the year, after rolling out a new manufacturing line that will double the production capacity. Isofoton also aims to double total 2010 sales in 2011. The company expects to see a recovery in the German, Italian and US markets this quarter, along with other markets.
Isofoton’s new sales policy, which calls for expansion in new markets, is serving to both further diversify the customer portfolio and ensure stable sales. As part of the policy, the company is opening and strengthening its commercial offices in Germany, Italy, France, the US, South Korea, China and the Middle East.
The strong performance and the substantial improvement in the contribution margin have also been underpinned by the ongoing cost cutbacks implemented by the new management team, coupled with enhanced production efficiency (less wastage) and improved unit power.
The Isofoton brand, a global provider of CPV Systems using GaAs based cells, is backed by over 30 years’ experience and its excellent product quality. The company ensures this leadership position through ongoing investment in R&D.
Isofoton aims to increase its production capacity fivefold in the coming three years. This, Isofoton says, will make it one of the most competitive companies in the global photovoltaic energy sector.
