PDF (7.3 MB) - GILDEMEISTER Interim Report 3rd Quarter 2012

Results of Operations, Financial Position and Net Worth: Segmental Reporting 57Sales revenues in “Energy Solutions” rose over the whole year to € 239.5 million (previousyear: € 112.3 million). At the end of the year a range of major projects in Italy wascompleted, which made a significant contribution to sales revenues. With growth of+113% or € 127.2 million we were able to double sales revenues. As of 31 December,“Energy Solutions” accounted for 17% of group sales revenues (previous year: 10%).Due to the high order backlog, order intake progressed as planned below the previousyear’s level. In the fourth quarter it amounted to € 54.4 million. For the whole yearwe have recorded order intake of € 144.8 million (–54%). The order backlog as of31 December of € 166.5 million (–36%) was below the level of the previous year(€ 261.2 million) in line with plans. ebitda amounted to € 1.8 million (previous year:€ 11.7 million). ebit amounted to € 0.4 million (previous year: € 11.1 million). Earningswere burdened by the panned building up and extension of sales and service bases inItaly, in the usa, in India and France as well as by higher module and component pricesand construction delays of individual solar parks due to approvals. Furthermore, dueto difficult weather conditions, the timely completion of some projects could only berealised at additional costs. In addition, the results were affected by initial investmentsinto the energy storage market.Investments in plant, property and equipment and in intangible assets in the“Energy Solutions” segment amounted to € 7.7 million (previous year: € 1.2 million).A large part of the investment funds were accounted for by the majority interest inCellstrom GmbH. In addition, we have invested in the further development of our solarand energy storage technology. Capitalised development costs in the “Energy Solutions”segment were € 0.8 million. Additions to financial assets amounted to € 4.9 millionthrough the acquisition of a 5% interest in Younicos ag. Investments thus amounted intotal to € 12.6 million.The number of employees rose by 73 (+84%) to 160 (31 Dec. 2009: 87). Theproportion of employees working in the “Energy Solutions” segment was 3% (previousyear: 2%).business reportFinancial Position / Net Worth“Corporate Services“ segmentThe “Corporate Services” segment comprises gildemeister Aktiengesellschaft with itsgroup-wide holding functions. Central functions have been assigned to it, such as groupstrategy, development and purchasing coordination, management of intracompany projectsin the production and logistics areas, funding, group controlling and group humanresources. The holding functions across the group incur expenses and sales revenues.