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sunways AG

euro adhoc: Sunways AG
Earnings Forecast
Sunways AG: Negative annual result for 2008; silicon supply adjusted to the currently favorable development of raw material prices

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
annual report
06.02.2009
Despite a further rise in demand in the fourth quarter, Sunways AG 
(ISIN DE0007332207, ISIN DE000A0BNPN0) closed the fiscal year ended 
on 31 December 2008 with a negative result. This development was 
mainly due to another marked rise in spot market prices for solar 
silicon for the fourth quarter. The raw materials purchased at 
significantly lower prices in the last weeks of 2008 will only be 
used and lead to a cost reduction in 2009. In addition, the 2008 
result was affected by non-recurrent expenses in connection with the 
company´s realignment as well as advance payments in relation to the 
expansion of capacities in Arnstadt.
Against the background of favorable developments in the market for 
raw materials, Sunways AG decided within the framework of its 
continuous cost controlling to terminate the wafer supply contract 
entered into with Swiss Wafers in October 2008. From today´s point of
view, this step will not result in any financial disadvantage for 
Sunways AG. The prepayments made upon conclusion of the contract were
refunded to Sunways.
Wafer shipments from LDK Solar, which are already underway and are 
gradually increasing in volume, will result in a marked reduction of 
the cost of raw materials and in a sustainable turn-around of the 
income situation of Sunways AG from 2009 onwards.
The contractually agreed delivery volumes of LDK are expected to 
ensure full supply for Sunways from the 4th quarter. Sunways AG will 
continue to procure additional volumes via the spot market.
The company will publish the complete 2008 annual report on 30 March 
2009.
end of announcement                               euro adhoc

Further inquiry note:

Haake, Birgit
Tel.: +49-7531-99677-0
E-Mail: ir@sunways.de

Branche: Alternative energy
ISIN: DE0007332207
WKN: 733220
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade

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