With the tremendous stock market interest and performance of U.S. and China based solar stocks, European solar companies do not get as much exposure. This is primarily due to the fact that these often very fine companies do not trade on the major U.S. exchanges. I still find it interesting to report on these companies comparison purposes or for those adventurous enough to trade on the OTC.
Q-Cells is a German solar company which is growing explosively and developing leading edge technology in solar power. They released their 3rd quarter financial numbers yesterday and the results are impressive. Here are some of the numbers, first 9 months of 2007 vs. 2006:
- Production: 256.6 megawatt peak vs. 180.1 MWp, +42%.
- Sales of 577 million euros, up 50%, 3rd quarter up 61% over Q3 ‘07 and 21% over Q2 ‘07.
- Net income of 111.2 million euros, up 78% over first 3 quarters of 2006.
- Increased sales forecasts of 1.2 billion euros for 2008 and 1.7 billion for 2009.
For this type of growth Q-Cells stock trades in Germany at a 71 PE multiple. If you want to watch the stock you can follow it here. Note: KGV is the German acronym for PE.
Solar power and the producing companies comprise a world wide phenomenon. The leaders in the field may not be the names we are familiar with.
Source: Solarbuzz
