Solar-Fabrik AG

euro adhoc: Solar-Fabrik AG
Financial Figures/Balance Sheet
Solar-Fabrik AG announces group performance for 2005

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31.03.2006

Solar-Fabrik AG (ISIN: DE0006614712) has completed a successful
fiscal 2005.  The group posted a positive performance of 340,000
euros. Total sales for the year are posted at 51.084 million euros.
In the 4th quarter of 2005 alone, sales amounted to around 19 million
euros -- the highest revenue in any quarter in the Company's history.
The measures that the management has taken are having the desired
effect: in 2005, the Solar-Fabrik Group expanded along the value
chain considerably on the path to becoming an integrated solar group.
In addition to its traditional core business of module production, a
major milestone was reached with the acquisition of wafer trader
Global Expertise Wafer Division Ltd.      By taking these measures,
Solar-Fabrik has ensured a supply of materials so that its
profitability will improve for the long term. The Company thus
managed to turn the year around after a weak first two quarters. Due
to one-off effects from due diligence costs in the amount of 335,000
euros and the postponement/cancellation of promised deliveries of
solar cells, the record performance of 2004 could not be maintained.
Total sales for the year amounted to 51.084 million euros (previous
year 52.119 million euros). In 2005, Solar-Fabrik AG posted an
after-tax profit of 340,000 euros after a profit of 579 million euros
in the previous year. Earnings before interest and tax (EBIT)
amounted to minus 312,000 euros (previous year 1,006,000 euros). If
we factor out the costs for due diligence for a planned acquisition,
the Solar-Fabrik Group posted a positive operating result of 24,000
euros.  For 2006, Solar-Fabrik plans to expand its production and
sales quantities by at least 23 MW or more than 60 %. An in-house
probability and planning metrics revealed that these growth rates
will probably be surpassed. The reason is that GEWD has intensified
its trading and now has another representative in the US, which will
provide significant short-term success. In addition, Solar-Fabrik is
planning to enter into contracts soon for the production of cells
with a machine capacity of at least 30 MW. Furthermore, in 2006
Solar-Fabrik is no longer dependent on major suppliers, who are
simultaneously major customers and therefore determine margins. This
marks a decisive step toward greater independence for Solar-Fabrik
within the entire market segment. For this reason alone,
Solar-Fabrik's gross yield will improve considerably The target EBIT
is up to four million euros with sales exceeding 80 million euros.
In the first three months, Solar-Fabrik AG has already gained new
suppliers. For instance, a ten-year contract has been signed with
Photovoltech NV-SA of Belgium for a total volume of up to 70 MWp. In
addition, in mid-March Solar-Fabrik AG signed a letter of intent with
E-Ton Solar Tech. Co. Ltd. of Taiwan for the supply of at least 140
megawatts of solar cells. These deliveries will be made between 2007
and 2011. For 2006, E-Ton Solar has agreed to provide up to 10
megawatts (MW) of cells. The new contract provides for 20 MW in 2007,
followed by at least 30 MW in each subsequent year. In other words,
the amounts supplied will continuously increase starting in 2006.
Overall, Solar-Fabrik plans to produce and sell up to 40 MWp in 2007.

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ots Originaltext: Solar-Fabrik AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Martin Schlenk
Tel. +49(0)761 4000 207
E-Mail: m.schlenk@solar-fabrik.de

Branche: Alternative energy
ISIN:      DE0006614712
WKN:        661471
Börsen:  Frankfurter Wertpapierbörse / regulated dealing/prime
              standard
              Börse Berlin-Bremen / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Bayerische Börse / free trade



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