aleo solar AG

Company achieves EBIT margin of 11 percent and pushes ahead with internationalization

aleo solar announces half-year figures for 2006

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OLDENBURG/PRENZLAU, 29 August 2006. aleo solar AG (ISIN DE000A0JM634) today announced that it increased sales in the first six months of the current financial year by 17 percent to EUR 55.7 million compared to the previous year (EUR 47.6 million). Earnings before interest and taxes (EBIT) were EUR 6.1 million (previous year: EUR 7.9 million). Despite rising purchase prices for solar cells, aleo managed to achieve an EBIT margin of 11 percent, which is above average compared to the market overall. Earnings before interest, taxes, depreciation and amortization (EBITDA) in the reporting period were EUR 7.1 million (previous year: EUR 8.6 million). As of 30 June 2006, the solar module specialist had 239 employees (previous year: 190 employees). aleo produced solar modules with a total rated power of 22.9 megawatts in the first half of the year. This is an increase of 56.7 percent compared to the first six months of 2005. The recognized quality of aleo products is reflected in the fact that one out of four solar modules were manufactured as OEM products.

"As expected, the market in Germany is evolving into a buyer's market," said Jakobus Smit, member of the management board of the solar module specialist. "aleo is a strong brand that will benefit us here in the future." Foreign business has developed positively, as planned. "We've begun to set up a manufacturing and sales company in Spain," said Smit. "We also established an international sales team to promote expansion in new markets." This has already been a success: Shortly after the launch, aleo's export rate rose to 5.1% in the first six months, compared to 0.5% in the same period last year. By the end of the year, the export rate should be at least twice as high. The company is registering high demand, particularly in Spain. Sales activities are about to begin in Italy. Besides these two countries, Greece and France have now also passed laws concerning the feeding of electricity into the grid which are attractive to customers and which will stimulate the market for photovoltaic systems. Smit said, "We're just getting started on the international markets. We see enormous potential for aleo here."

"Silicon remains in short supply around the world," said Heiner Willers, also a member of the management board of aleo. "We work closely together with solar cell manufacturers and have covered our solar cell requirements through medium- and long-term supply contracts." In April 2006, the company also acquired a 19% interest in Johanna Solar Technology GmbH. In Brandenburg, Johanna Solar is currently building one of the world's largest, most state-of-the- art plants for the mass production of next-generation, silicon-free thin-film modules. "In our estimation, this is currently the most powerful thin-film technology," Smit said. The technology is based on copper, indium, gallium, sulfide and selenium (CIGSSe). It is a high-performance technology that makes manufacturers independent of silicon, which is a rare raw material.

The focus of the first half of 2006 was on preparing for the IPO of aleo solar AG. The stock was admitted to the Prime Standard of the Frankfurt Stock Exchange on 14 July 2006. The company received gross proceeds of EUR 38.5 million from the IPO. The fresh capital will be invested in the expansion of the company in growth markets in southern Europe and in cutting-edge technologies.

Despite declining solar module prices, aleo will once again record an EBIT margin that is above average compared to the market overall. The company plans to boost sales for the full 2006 financial year by 25 to 35 percent compared to the previous year (EUR 106.9 million).

The Company: aleo solar AG (previously S.M.D.) maintains distribution offices in Oldenburg (Lower Saxony) and manufacturing facilities in Prenzlau (Brandenburg). Founded in September 2001, the company manufactures solar modules based on silicon cells. Around 230 employees currently work at both locations. The solar module manufacturing facility in Prenzlau has an annual capacity of 90 megawatts, which makes it one of the largest facilities of its kind. In 2005, aleo solar AG achieved sales of EUR 106.9 million. aleo solar AG (ISIN: DE000A0JM634) has been listed on the Prime Standard segment of the Frankfurt Stock Exchange since July 2006. By acquiring shares in the Brandenburg-based technology company Johanna Solar Technology GmbH, aleo solar AG has attained access to the promising future of thin-film technology.

Kontakt: Investor Relations | aleo solar AG | Franz Nieper |Osterstr.
15| 26122 Oldenburg T 0441 219 88 35 | F 0441 219 88 69| E

HOSCHKE & CONSORTEN| Grit Muschelknautz | Deichstraße 29| 20459
Hamburg T +49 (0)40 36 90 50 - 31 | F +49 (0)40 36 90 50 -10| E

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ots Originaltext: aleo solar AG
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Further inquiry note:
Yvonne Meyer
Investor Relations, Legal & Compliance
Telefon: +49(0)441-21988-58

Branche: Alternative energy
ISIN:      DE000A0JM634
WKN:        A0JM63
Index:    CDAX, Technologie All Share, Prime All Share
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade

Weitere Meldungen: aleo solar AG

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