Business News

Bisol ups revenue and profit in 2020

Prebold, 29 March (STA) - Solar panel developer and maker Bisol generated over EUR 42 million in revenue last year, some EUR 6 million more than the year before. Net profit reached EUR 3 million, a significant increase over EUR 27,804 in 2019, the Prebold-based company said.

During the pandemic, it has paid off for the company to have a wide network of international clients, which it built in the past 15 years.

The volume of production increased by some 20% over 2019, which was already a record year. In terms of value, the growth was 10% due to a small drop in the price of modules.

Globally, the industry grew only slightly last year. However, its growth in the EU, Bisol's key market, was in the double digits. Both residential and industrial installations grew steadily, the company said, adding that big projects were the ones to suffer from the crisis due to delays.

Owing to climate goals of EU member states, Bisol expects the industry to grow steadily in the long term and has thus gone ahead with production expansion and modernisation in the first quarter of this year.

Moreover, the company is relaunching investments in its own generation capacity in Slovenia and elsewhere in Europe. In the next ten years the company wants to invest at least EUR 5 million annually in its own facilities.

Employing some 200 people, the company expects growth to continue this year. "Hoping for a stabilisation of the health situation, we expect growth to be at least at last year's level."

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