Solar-Fabrik AG

euro adhoc: Solar-Fabrik AG
Financial Figures/Balance Sheet
Solar-Fabrik AG doubled its sales to EUR 148,267,000 in 2007 and is raising its sales target for 2008 from EUR 200,000,000 to EUR 250,000,000 with an EBIT margin of just under 5%

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annual report


Solar-Fabrik AG (ISIN: DE0006614712) increased its consolidated sales to EUR 148,267,000 in 2007, representing an increase of 104% over the previous year. The sales forecast for 2007 of EUR 140,000,000 was therefore substantially exceeded. As the company has generated a significant number of orders the sales forecast for the current 2008 Financial Year has been increased from the original figure of at least EUR 200,000,000 to EUR 250,000,000. After the deduction of one-off net currency effects of EUR 8,603,000, Solar-Fabrik AG generated an annual net profit of EUR 4,539,000 (previous year: EUR 1,648,000) in 2007. The annual net profit includes tax income of EUR 3,091,000 (previous year: EUR -1,653,000).

Solar-Fabrik generated overall sales of about EUR 73,160,000 in the Wafer operating division in 2007, with about EUR 53,881.000 being accounted for by external sales. This business segment therefore increased sales by EUR 45,399,000 in relation to the previous year, representing a growth rate of about 264%. The segment profit was EUR 5,201,000 (previous year: EUR 5,436,000).

Solar-Fabrik generated sales of about EUR 94,479,000 in the solar power systems segment in 2007, 99.8% of this figure being accounted for by external sales. This business segment therefore increased its sales by EUR 33,408,000 in relation to the previous year, representing a growth rate of about 55%. Overall, a total operating profit of EUR -3,164,000 (previous year: EUR -1,917,000) was recorded in 2007 after adjustment for extraordinary effects, but the company plans to significantly boost profits in 2008. This expectation for next year´s results is reliably based on orders on hand of over 60 Megawatts (60 MW) at the start of the current financial year. This means that virtually the entire planned production volume of 70 MW solar modules for 2008 had been sold with almost complete certainty even before 2008 had begun, enabling Solar-Fabrik AG to more than double its production and sales volumes compared to 2007. At the same time, production for the traditional division at the Freiburg site will continue at optimum capacity utilization throughout 2008 for the first time in the company´s history, achieving good economies of scale.

The solar cells segment still recorded a loss of EUR -844,000 (previous year: EUR -119,000) in 2007 as a result of integration requirements and start-up financing. It is expected to make a small profit this year.

The wafer processing segment, almost 100% of whose services are provided within the group, generated a segment profit of EUR 672,000 (previous year: EUR 243,000). The expansion of the wafer-processing segment is forging ahead. In this connection, capacity at the site in India is now being more than doubled by the construction of a second works. In addition, significant sales are expected outside the group for the first time in 2008.

The fact that production capacity in the various group divisions has already been marketed gives the management a high degree of planning certainty for the 2008 Financial Year. The consolidated sales target of EUR 200,000,000 has therefore been increased to EUR 250,000,000. After the capital increase in September last year, the nominal capital now comprises 11,685,000 shares. The anticipated EBIT margin will be just under 5% if this sales target is met. It is expected that the most significant profit increase will be achieved by the addition of a third production line with state-of-the-art production capacity in the area of solar power systems. Furthermore, Solar-Fabrik has strengthened its market position in terms of procurement conditions and sales volume thanks to the high sales figures it has achieved. The company expects to further improve its market position through realisation of its objectives for 2008.

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ots Originaltext: Solar-Fabrik AG
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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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