PHOTON International The Photovoltaic Magazine

Phönix SonnenStrom stock traded over-the-counter

On Nov. 18, the fifth anniversary of Phönix SonnenStrom AG's founding, the German wholesaler and PV system company gave its debut on the German stock exchanges in Munich, Frankfurt, Stuttgart, and Berlin/Bremen. No new shares were issued.

	© Phönix SonnenStrom AG
In November, Murray Cameron was promoted COO at Phönix Sonnenstrom.

The Sulzemoos (near Munich) based company's total basic capital of around €5 million ($6.4 million) (5,025,000 no par shares) was admitted for over-the-counter (OTC) trading at the stock exchange, thereby "»ulfilling the calls for a professional trade platform by the nearly 3,500 shareholders,« announced Baader Wertpapierhandelsbank AG, which coordinated the stock listing. The small Bavarian Bank already organized the listing of the Freiburg-based S.A.G. Solarstrom AG on the Munich stock exchange.

While Phönix's stock (WKN A0BVU9) started at an opening price of €8.50 ($10.89), it closed its first week at €6.75 ($8.65) on Nov. 19. In the short term, the stock should be well-traded, since the latest numbers not only shed a pleasant light on Phönix, but are generally representative of industry trends. On Nov. 11 Phönix reported for the first three quarters of 2004 an increase in turnover to around €47.4 million ($60.7 million) from €14.8 million ($18.9 million) during the same period last year. And whereas in the first nine months of 2003 the company suffered losses of €1.1 million ($1.4 million), this year it brought in profits of around €1.5 million ($1.9 million) after interest and taxes. EBIT margin improved from negative 7.7 percent to plus 3.5 percent in the same period.

In order to properly meet the demands of managing a stock market listed company, as well as an increasing transaction volume, Phönix has restructured its board: Murray Cameron, since March 2003 the company's director of International Business, took over responsibility for the Operational Business at the start of November. Other board members are Andreas Hähnel (chairman), Manfred Bächler (CTO) and Sabine Krauper-Herta (head of accounting).