Diversified renewable energy group CBD Energy says it expects to post a record profit in the current financial year ? beating last year?s $8.5 million ? because of huge demand in rooftop solar PV. CBD says it is currently installing 400 systems a week, has a backlog of 3,000 units, and a growing order book as it expands nationally.
CBD expects to begin production runs of its recently completed inverter and module assembly facilities in the second half of the year, which it expects to deliver an advantage over competitors. Internationally, it is focusing on large scale ventures and says it expects to sign contracts this month for 60 1MW solar installations in Italy, which it says could deliver EBIT (earnings before interest and tax) of $8.5 million by the end of June."
