Solar Profit has announced an ERE to lay off 30% of the workforce. The company, specialized in the installation of solar panels, will lay off around 275 people out of a total of 919.
According to a statement, the Catalan company has made this decision due to the slowdown in demand from households. "The moderation of electricity prices and the lower disposable income derived from the increase in inflation and interest rates, as well as the strong increase in competition, have been determining in recent months a complex and very demanding environment for the companies that operate in the residential segment of photovoltaic installations” assures the firm directed by Òscar Gómez and Roger Fernández.
In addition to the dismissal of 30% of the workforce, the company has implemented a series of measures to cut costs. Among them, an improvement in the efficiency of logistics and production processes and a reduction in the cost of materials stand out.
With these and other measures, Solar Profit expects to recover positive margins in the fourth quarter of the year and reduce losses in the second half as a whole.
The Catalan company, which is listed on BME Growth, assures that revenues in the second half of the year will stand at 45 million euros and Ebitda (gross profit) at -4 million euros. In the first semester, the results were 33 million in income and 10.7 million in gross losses.
