aleo solar AG publishes 2006 annual report and confirms preliminary figures
Oldenburg/Prenzlau (euro adhoc) -
Revenue in 2006: EUR 130.4 million (+22%); foreign revenue in access of 15%; EBIT margin: 7.3%; production output: 47 MW (+36%)
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aleo solar AG has confirmed the preliminary figures already announced with today's publication of its 2006 annual report. Revenue rose by 22% to EUR 130.4 million (2005: EUR 106.9 million). The share of revenue generated abroad already amounts to more than 15% and is continuing to increase. EBIT was EUR 9.6 million (previous year: EUR 14.7 million) for a solid EBIT margin of 7.3%. The production output increased to 47 MW (2005: approximately 35 MW). The new production facility in Spain was completed according to schedule at the end of 2006. As from 2007, total production capacity therefore amounts to 100 MW (90 MW in Prenzlau and 10 MW in Spain). aleo solar's workforce grew to 316 employees at year-end. Earnings per share totalled EUR 0.43 (2005: EUR 0.72).
According to Chairman of the Management Board Jakobus Smit, the past year saw aleo solar AG lay the foundations for its future growth story. "The boost we received from the IPO has enabled us to rev up our international growth. We're the first German solar module manufacturer with our own factory in Spain. Our company is also an innovator with new products such as the world's first CIGSSe-based thin film modules produced by Johanna Solar Technology GmbH, in which we hold a 19% interest. The first of these thin film modules are expected to hit the market this year."
aleo solar AG's outlook for 2007 foresees additional growth opportunities in European markets in particular - corresponding contracts have already been signed with customers including multi-megawatt project developers in Spain, such as SOLARTIA. In 2007, aleo will also ship modules to Spanish energy companies, such as Endesa and Gamesa. As a result, aleo solar will at least double the number of jobs in the new production facility in Spain during the year. The Company is also currently setting up a network of specialist dealers in Spain similar to the one in Germany to reinforce and guarantee aleo solar's high quality on the ground. In Spain, the preference is for building medium-sized systems on open land, and aleo solar's local production and sales activities offer an advantage here.
The Italian market is also ready to take off thanks to the simplification of the Feed-in Act in February 2007. A roof-top market similar to Germany's is expected to develop there. According to Smit, "We are tracking the southern European markets very closely and have laid the groundwork for reaching our growth targets by signing the appropriate cell supply contracts. We expect to increase the share of revenue generated abroad to over 50% by 2010." In line with this, aleo solar plans to participate in trade shows in Verona (Solarexpo) and Milan (22nd European PV Conference). A network of specialist dealers similar to the one in Germany is also being developed in Italy. aleo solar's many years of sales expertise and high-quality products are key factors in this effort.
Uwe Bögershausen, who has also been a member of the Management Board (CFO) since February 2007, considers organic growth to be the proper path to take in the coming years: "For 2007, we project revenue of at least EUR 155 million, along with an ongoing solid EBIT margin. In 2008, revenue is expected to be at least EUR 200 million. To achieve these goals, we will invest and create additional secure jobs primarily in Germany, but also in other countries."
Additional information: A PDF file of the 2006 Annual Report in German and English is downloadable from www.aleo-solar.de. The Annual General Meeting of aleo solar AG will be held at 10:30 a.m. on 28 June 2007 in Bremen (at the Park Hotel).
The Company aleo solar AG, with sales operations in Oldenburg (Lower Saxony) and manufacturing facilities in Prenzlau (Brandenburg), was formed in September 2001 and produces solar modules using silicon cells. Its facility in Prenzlau has an annual capacity of 90 megawatts, making it one of the largest production plants for solar modules. At the beginning of 2007, production also started in Santa María de Palautordera (Spain) with an annual capacity of 10 MW. The Company generated revenue of EUR130.4 million in 2006 with around 320 staff. Since July 2006, aleo solar AG (DE000A0JM634) has been listed in the Frankfurt Stock Exchanges Prime Standard. The Companys acquisition of an equity interest in the Brandenburg-based technology enterprise Johanna Solar Technology GmbH has given it access to the promising future technique of thin-film technology.
end of announcement euro adhoc 19.04.2007 07:48:47
Further inquiry note:
Franz Nieper or Yvonne Meyer
Investor Relations, Legal & Compliance
Tel.: +49 441-21988-77
E-Mail: Invest@aleo-solar.de
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
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