Solar-Fabrik AG

EANS-Adhoc: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten
Strategic realignment of Solar-Fabrik AG with focus on core area of solar electricity systems is proving to be successful; significant recovery ...

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6-month report


Freiburg, August 7, 2009 - In the first half  of  2009,  Solar-Fabrik AG (ISIN:  DE0006614712)  generated consolidated sales  amounting  to 48.245 million  euros  (PY:  76.048  million euros). Earnings before tax and interest (EBIT) of  the  business  units  to  be continued were -3.641 million euros (PY:  -2.651  million  euros).  Taking   into account the results of the discontinued business units, or those held for  sale, the result for the period amounts to -9.429 million   euros  (PY:  2.015  million euros). The core segment of the solar electricity modules  was  defined  in  the first six months of 2009   by buyer  reticence  and  falling  prices.  This  was associated with an investment backlog that is now successively being reduced  as prices have all but stabilised. Solar-Fabrik is  benefiting  in  its purchasing activities in the long term from stable low prices.

Solar-Fabrik  AG  has  consistently  implemented  the  concept  of     order-based production. Growing demand and contracts that  have   already  been  signed  mean that significant growth in sales is expected for Q3 2009. The consistently  high number of incoming orders since June is continuing. With the capacities  created in the new, highly modern plant 3, Solar-Fabrik  is  ideally  equipped  for the increase in demand which is now discernible. Production at the highly  automated new plant started in March 2009 and is now running in 3-shift operation to  keep pace with further growth.

Turnover in the 'Solar electricity systems' segment  was  48.245   million  euros (PY: 75.864 million euros) as  of  30  June  2009.   Sales  in  the  2nd  quarter increased in comparison to the first quarter but are still below  the  level  of the previous year. The decline in turnover has resulted in a segment  result  of -4.100 million euros (PY: -2.829 million euros).

In the first half of 2009, the 'Solar Cells' business  unit  posted   profits  of 588,000 euros (PY: -23,000 euros). A positive result is expected  for  the  year overall.

Solar-Fabrik AG is consistently continuing the  course  it  has  set itself  of focusing and optimising its business. The  discontinued   business  unit  ´Wafer´ was deconsolidated as of 11 May 2009. Effective August 6, 2009, Solar-Fabrik  AG has sold its 80 percent holding in Solar-Fabrik Silicon  Services  Ltd.  (SFSS), which itself holds 100 percent of the shares in  Poseidon  Solar  Services  Pte. Ltd.. Solar-Fabrik has thus left the field of wafer preparation to focus all  of its attention on its core business of solar power modules and  systems.  In  the interim financial report for Q2 2009, 3.850 million euros  have  therefore  been written off of the Group's assets from this sale.  In  return,  Solar-Fabrik  AG has received cash in the amount of around 900,000 euros from the sale.

For the second half of the year, Solar-Fabrik AG sees a substantial recovery  in the demand  for  solar  electricity  modules.  The   significant  and  continuous increase in incoming orders that has been discernible since as early as June  is driven by overall stronger sales success and the excellent  positioning  in  the French in-roof market. In addition, contracts have already been  concluded   with new customers for major projects with a scope of 7 MWp  and   another  20MWp  for 2009 have been announced. Solar-Fabrik will be working at  full  capacity  again as early as Q3. In the course of the year, Solar-Fabrik is anticipating  further progress in productivity and turnover, among others  through  initial  successes in the US. Solar-Fabrik is thus expecting a  substantial  increase   in  turnover and an improvement in results in the core business  for the  2nd  half  of  the year.

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ots Originaltext: Solar-Fabrik AG
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Further inquiry note:
Investor Relations
Tel.: +49 (0)761-4000 0

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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