ErSol Solar Energy AG

EANS-Adhoc: ersol corrects annual forecast for 2009

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As a result of the continuing global economic crisis which is also badly affecting the photovoltaic sector, and on the basis of the poor first half-year results for 2009, the Management Board of ersol Solar Energy AG has had to further reduce its annual forecast for the ersol group for 2009 as a whole. The turnaround which the sector had hoped to see in the form of a market recovery in the second quarter of 2009 has not yet materialised. The previous forecast was for sales of between EUR 330 and 380 million and an EBIT figure of between EUR 30 and 60 million for 2009; the expectations are now for sales of below EUR 300 million and a negative EBIT figure for the year. The main reason for this further correction to the forecast is the ongoing depression in the market caused by world photovoltaic market volumes which are down on the previous year, and a continuing surplus of solar power products. This is creating an enduring general slump in demand from our customers and a significant drop in prices of solar modules and cells. ersol will therefore be adjusting its sales forecasts to the lower demand scenario and is currently investigating ways of translating this into appropriate production measures.

ersol Solar Energy AG will be issuing its business figures for the first six months of 2009 as planned on 14 August 2009 in an interim report.

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ots Originaltext: ErSol Solar Energy AG
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Further inquiry note:
Janina Broscheit
Corporate Communications
Telefon: +49(0)361 21 95 - 1181

Branche: Alternative energy
ISIN:      DE0006627532
WKN:        662753
Index:    CDAX
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              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / free trade
              Frankfurt / regulated dealing/general standard

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