Solar-Fabrik AG

EANS-Adhoc: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten
Solar-Fabrik achieves volume growth and positive EBIT also in third quarter 2011.

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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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9-month report

10.11.2011

Solar-Fabrik AG (ISIN: DE0006614712), an independent PV solar system
manufacturer, has continued its success story throughout the 3rd quarter 2011

The core business 'PV solar systems', now being renamed to 'PV modules',
increased the quarterly volume by ca. 12 % year-on-year. The nine months 2011
volume reached 88 MWp, an increase of ca. 9 % to the comparable 2010 period. 

The third quarter EBIT of the continued operations was pushed to EUR 1.0 Mio,
compared to 0.3 million euros in Q3-2010. The nine months EBIT is 1.5 million
euros (2010: 12.2 million euros), thereof 1.4 million euros from PV modules,
compared to 12.1 million euros a year ago. The continuous price erosion of PV
modules lead to an 11 % decreased nine months revenue of 131.2 million euros for
the continued operations, compared to 147.4 million euros for the nine months
2010. 

The new business units ‚Power Generation' and ‚Installation' have not
contributed any relevant business so far. The installation unit was established
in July 2011 by the investment into SolSystems Energy GmbH.

As a consequence of the previously announced discontinuation of the 90 % cell
production subsidiary SEP in Singapore Solar-Fabrik has accounted operational
losses of 3.4 million euros for the first nine months 2011 (2010: 0.8 million
euros). The major charges are due to 0.7 million euros of fixed assets as well
as 1.6 million euros prepayments for a wafer supply contract which was
terminated. In total the group generated a loss of 2.9 million euros during the
nine months 2011 compared to a 9.2 million euros profit a year before,
representing a loss of 22 ct per share (2010: 78 ct earnings per share).

The continued operations are profitable and show a group level result of 0.5
million euros (2010: 10.0 million euros) representing 4 ct earnings per share
(2010: 84 ct earnings per share). Particularly the third quarter 2011 generated
a group level result of 0.8 million euros (2010: -0.2 million euros) and 6 ct
EPS (2010: -2 ct EPS), respectively.

The volume growth in a challenging market environment proves the success of a
market oriented sales strategy. The 68 % export ratio for the nine months 2011
period together with the SolSystems Energy GmbH investment towards installation
and turn-key-system business represent a solid basis for the initiated
redirection of the Group.

The anticipated annual volume for 2011 is in the same range as 2010. Due to the
significant price decrease, the anticipated 2011 annual revenue will
simultaneously decline.

The executive board considers the 3rd quarter EBIT performance a proof for the
sustainable business strategy, based on which the continuing business units will
also generate positive EBIT results for the full year 2011.


Further inquiry note:
Investor Relations
Tel.: +49 (0)761-4000 0
E-Mail: investor@solar-fabrik.de

end of announcement                               euro adhoc 
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issuer:      Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten
             Munzinger Str.  10
             D-79111 Freiburg
phone:       +49(0)761 4000 0
FAX:         +49(0)761 4000 199
mail:     info@solar-fabrik.de
WWW:      http://www.solar-fabrik.de
sector:      Alternative energy
ISIN:        DE0006614712
indexes:     
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Stuttgart, Düsseldorf, München 
language:   English
 



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