EANS-Adhoc: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von
solartechnischen Produkten Solar-Fabrik discontinues Singapore cell
production, module business continues volume growth and positive EBIT throughout
Q3.
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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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26.10.2011
The executive board at Solar-Fabrik AG (ISIN: DE0006614712) decided to
discontinue the solar-cell production at Solar Energy Power Pte. Ltd. (SEP) in
Singapore by the end of 2011. Solar-Fabrik has held 90% of SEP since 2006 and
the Singapore based company was an important strategic cell supplier for Solar-
Fabrik modules throughout 2009 in the global undersupply situation. With the
dramatic 2009 switch towards continuous oversupply in the global market SEP has
lost its strategic relevance and after the termination of the last wafer supply
agreement cell production at SEP is not economically viable any more. The end
of SEP operation represents the final step for Solar-Fabrik towards a complete
focus on its module business as well as the new business segments installation
and power generation. Solar-Fabrik reconfirms the performance of its core
module business with continued volume growth and a positive EBIT throughout Q3-
2011.
The end of SEP operation generates additional anticipated charges for this
segment as of September 30, 2011, of ca. 2.6 million euros primarily by writing
off fixed assets as well as prepayments for the wafer supply contract, causing
Solar-Fabrik Group´s results for 2011 to become negative. Freddy Goh, the
Managing Director of SEP and CTO at Solar-Fabrik AG will retire from both
positions in April 2012.
Solar-Fabrik´s PV systems core business generated continued volume growth also
in Q3-2011 and reached ca. 88 MWp for the first three quarters 2011,
representing some 10% yoy growth. The Q3 financial results will be published on
November 10, 2011.
SEP´s end marks a major milestone in Solar-Fabrik´s re-positioning as a German
module manufacturer with an attractive product portfolio and additional
downstream integration. Both volume growth and positive quarterly and total
EBIT of the core business in an extremely challenging 2011 environment are a
sound proof for the successful business model addressing the global PV growth
market.
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