Solar-Fabrik AG

EANS-Adhoc: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten
Solar-Fabrik AG further improves business focus and enters project business

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Company Information


Freiburg, June 29, 2009 - Solar-Fabrik AG reconfirms its strategy and takes the next steps on its way towards business optimisation and focus. As part of re- establishing the clear focus on PV solar modules it is planning to sell the silicon recycling business, i.e. Solar-Fabrik Silicon Services Ltd. and Poseidon Solar Services Pte. Ltd. Despite the challenging economic environment SFAG was able to come to terms with a buyer willing to pay for the lion's share of the fixed assets, leaving the company with little more than the impairment of intangible assets as the consolidated loss. Based on the existing LOI the transaction is expected to close within the next 30 days, contingent on approval by the relevant bodies.

Due to limited visibility in its core market for PV solar modules Solar-Fabrik AG has implemented build-to-order processes throughout its entire supply chain. Based on the additional capacity from Fab 3 the company is well prepared for the anticipated Q3 09 growth. Fab 3 with its highly efficient equipment is now ready to support further growth.

2nd quarter shipments show an increase from 1st quarter while still   lower  than the year before. Combined with the silicon recycling impairment this  will  lead to a quarterly loss, which is all the way considered to be  strategic  progress. As a conclusion, esp. together with  the  continuously  limited  visibility  the previously communicated 2009 revenue and profit targets are  not  realistic  any more. Assuming an overall positive economic development throughout the  rest  of the year, incl. improvement in the financial sector the company  anticipates  a solid recovery for PV solar systems, as  this is  already  visible  in  orders. Additionally, the newly targeted project market has  yielded  a  first  contract over  7  MWp  from  a single,  new  customer,  with  additional  20  MWp  being negotiated. Due to  remaining  uncertainties  the  management  board  will  only provide a new guidance later into 3rd quarter 2009.

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ots Originaltext: Solar-Fabrik AG
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Investor Relations
Tel.: 0761-4000 0
Fax.: 0761-4000 199

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

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