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Solar-Fabrik AG

EANS-Adhoc: Solar-Fabrik AG specialises in solar power systems, reorganised company structure, order volume for 2009 already more than 80 MWp, improved margin thanks to falling supplier prices

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3-month report

15.05.2009

In the first quarter of 2009, Solar-Fabrik AG (ISIN:  DE0006614712)   achieved  a group turnover of 22,529,000 euros (previous year:   53,102,000 euros).  Earnings before interest and taxes (EBIT) were -289,000  euros  (previous  year:  519,000 euros). In the first quarter of 2009, there was a marked  focus  on  the  German solar market, which, however, was less productive than the average  of   previous years due to the weather. As expected, the Spanish market declined  due  to  the amended  funding  regulations.  Nevertheless, Solar-Fabrik  is  profiting  from falling supplier prices,  as  the   company  has  generally  not  signed  binding contracts.

On 31 March 2009, turnover of  21,573,000  euros  in  the  segment   solar  power systems had  been  achieved  (previous  year:   34,893,000  euros).  Despite  the decline in turnover and the decrease in the gross margin  from  10.7%  to  9.3%, the segment result increased by 785,000  euros  from  -2,685,000  euros  in  the previous financial year to -1,900,000 euros.

As a consequence of the slump in the silicon market and the fact that GEWD  Ltd. filed for bankruptcy on 31 March 2009, turnover in the wafer segment had  fallen by 17,267,000 euros from 18,181,000 euros to 914,000 euros on 31 March 2009.  It was possible, by the end of 2008, to temporarily reverse provisions for  onerous contracts to P&L by returning deliveries to suppliers in  exchange  for  credit. As a consequence, the segment result is 1,588,000 euros.

In the first quarter of 2009, the  "solar  cells"  business  division posted  a profit of 303,000 euros (previous year: -126,000 euros). A positive  result  is expected for the whole financial year.

The "wafer preparation" segment  achieved  a  balanced  result   (previous  year: 82,000 euros). A positive result is expected for the whole financial year.

Despite the financial and economic crisis,  Solar-Fabrik  AG   currently  has  an order volume exceeding 80 MWp.  The  company  aims to  achieve  a  double-digit percentage increase in production and sales, compared with  2008,  and  to  gain market share in the European solar market. At the end of the  first  quarter  in 2009, Solar-Fabrik started up its third production facility in Freiburg and has thus increased production capacity to 130 MWp. This production   line  is  highly automated and is a guarantee of increased productivity. Solar-Fabrik expects  an EBIT margin of at least 3 % in the solar power systems segment for  the  current financial year, which is characterised by a high degree of planning security.

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

Further inquiry note:
Investor Relations
Tel.: 0761 - 4000 0
info@solar-fabrik.de

Branche: Alternative energy
ISIN:      DE0006614712
WKN:        661471
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / free trade



Weitere Meldungen: Solar-Fabrik AG

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