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Solar-Fabrik AG

EANS-Adhoc: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten
Preliminary annual financials underline the overall competitiveness, EBIT impacted by non-cash one-time effects. High equity ratio and net cash ...

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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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Financial Figures/Balance Sheet
01.03.2013


According to the preliminary and unaudited annual financials, Solar-Fabrik AG
(ISIN: DE0006614712) has managed to maintain its standing also in a very
challenging 2012 market environment, despite a revenue decrease by ca. 80.8
million euros to ca. 96.1 million euros. The company's view is backed by an
EBITDA loss limited to ca. -4.4 million euros (ca. -4.5% of revenue) under these
very challenging market conditions (2011: ca. +4.6 million euros), and an
operating cash flow of -1.5 million euros (2011: +3.1 million euros), which is
at a level where it has only minimal impact on the financial strength of the
company. Driven by high and unplanned asset write-offs of 14.0 million euros the
EBIT loss reaches ca. 21.8 million euros (2011: 0.8 million euros profit),
however, the equity ratio increased to 71.9% (2011: 63.3%). Solar-Fabrik also
shows a net-cash position of ca. 15 million euros, a very rare strength in the
PV solar industry.

The revenue decrease is driven by both price and volume and reflects the
competition in an oversupply market. In 2012 Solar-Fabrik's solar module
business achieved a volume of 99 MWp (2011: 127 MWp) at an export ratio of ca.
60%, similar to 2011. The average sales price decreased by ca. 42% during 2012.

Since these financial results for 2012, the crisis year of the PV solar
industry, have only little impact to the financial strength of the company the
executive board considers Solar-Fabrik well positioned for the future. Based on
high cash availability Solar-Fabrik is also able to push the new businesses
turn-key installation and power generation throughout 2013, together with
further regional expansion. The Italian market currently generates stable
demand, with the February demand already beyond the year ago level, and the
Solar-Fabrik production is on a three-shift schedule starting in March. Together
with the solid capital base the executive board considers this beginning of the
year a good starting point to successfully implement the company strategy.

The final and audited financials for 2012 will be published on March 28, 2013.


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: free trade: Berlin, München, Düsseldorf, Stuttgart, regulated
             dealing/prime standard: Frankfurt 
language:   English

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