Solar-Fabrik AG

euro adhoc: Solar-Fabrik AG
quarterly or semiannual financial statement / Solar-Fabrik AG Doubles Sales - completed capital increase and structured financing ensure the realization of the business plans

-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report 26.10.2007 Solar-Fabrik AG Doubles Sales - completed capital increase and structured financing ensure the realization of the business plans Ad-hoc Announcement, 26 October 2007 Solar-Fabrik AG (ISIN: DE0006614712) increased sales by 106% in the first nine months of 2007 compared with the same period of 2006, to EUR 102,860,000 (Q1-3 2006: EUR 49,816,000). In response, the Company has raised its sales forecast for 2007 from a minimum of EUR 130 million previously to a minimum of EUR 140 million now. Adjusted for unrealized exchange rate losses of EUR 2,998,000, Solar-Fabrik AG closed the first nine months of 2007 with EBIT of EUR 1,966,000 (EBIT Q1-3 2006: EUR 3,035,000). Exchange rate hedges particularly for current currency exposures for the next fiscal year are already accounted for in these figures. The recent share issue generated approximately EUR 41 million for the company. Another EUR 43 million has been borrowed in a recently finalized structure finance package to secure business growth as decided and planned. This assures the Company access to the resources needed for its impending expansion, guaranteeing the supply of raw materials to increase solar cell production in Singapore and additions to production capacity for solar panels and solar cells. The first delivery tranche under a polycrystalline silicon contract with Hoku Materials has been secured by opening a cash-collateralized US$ 25 million letter of credit for the agreed upon volumes and prices. A second tranche and the conditions involved are currently the subject of talks between the parties that are to be completed at the latest by the year-end. This opens significant additional scope for expansion from 2009 which has not yet been incorporated into the current business plans. In its Wafers business segment, Solar-Fabrik generated sales of some EUR 52,055,000 in the first nine months of 2007, with external sales accounting for some EUR 39,465,000 of this total. The Wafers segment thus increased first nine- month sales by EUR 33,581,000 compared with 2006 (EUR 18,474,000), corresponding to a growth rate of 182%. Segment operating income amounted for EUR 4,204,000 (Q1-3 2006: EUR 4,502,000). In its Solar Power Systems business segment, Solar-Fabrik altered its sales strategy in the second quarter of 2007 to increase its focus on major customers. Sales in this segment increased in the reporting period by some 53% to EUR 63,254,000 (Q1-3 2006: EUR 41,362,000). The new sales strategy has brought about a dynamic reduction in operating losses in this segment since the beginning of the year: while the segment result in the first quarter of 2007 amounted to a loss of EUR 1,536,000 due to seasonal effects and as a result of the initial sales strategy, the segment result for the second quarter of 2007 improved due to the initiated sales reorganization by EUR 749,000 compared to Q1 2007. Furthermore, the segment result for the third quarter 2007 improved compared to the segment result for the second quarter 2007 by EUR 561,000. In total, the segment generated a cumulated operating loss adjusted for special effects of EUR 2,549,000 for the first nine months of 2007. Since the third quarter of 2007, the segment has operated at break-even point. Above the level of sales it has attained the segment will generate positive operating income in future, and further planned sales growth in the Solar Power Systems segment will mean even higher growth in operating income. The operational turnaround has also been achieved in the third quarter in the Solar Cells segment. After initial losses of EUR 611,000 in the first half of 2007, the third quarter brought a segmental operating income of EUR 140,000. The Wafer Processing segment, in which almost all sales are accounted for by intra-group business, generated segmental operating income of EUR 701,000 in the first nine months of 2007. The extension of the Wafer segment will further be accelerated. In this regard, the production capacity of the Wafer Processing segment in India will be doubled by the current construction of a second plant. Solar-Fabrik plans (and to a large extent already has contracts) to sell up to 70 MWp of solar panels in its Solar Power Systems segment in the 2008 business year, and expects that it will provide a correspondingly large quantity and price-induced positive contribution to operating income. The Group's minimum sales forecast for 2008 is EUR 200 million. The Company forecasts significant rises in sales and earnings; this estimation is based on sustained high level of capacity utilization, additional efficiency gains at all production locations, and improved procurement terms in line with increasing volumes. end of announcement euro adhoc 26.10.2007 07:09:38 -------------------------------------------------------------------------------- ots Originaltext: Solar-Fabrik AG Im Internet recherchierbar: Further inquiry note: Martin Schlenk Tel. +49(0)761 4000 207 E-Mail: Branche: Alternative energy ISIN: DE0006614712 WKN: 661471 Börsen: Börse Frankfurt / regulated dealing/prime standard Börse Berlin / free trade Börse Stuttgart / free trade Börse München / free trade

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