aleo solar AG

aleo solar AG confirms preliminary figures for 2007 and publishes annual report

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Prenzlau/Oldenburg (euro adhoc) - With today's publication of its 2007 annual report, aleo solar AG has confirmed the preliminary figures already announced. Revenue rose by 86% to EUR 242.1 million (2006: EUR 130.4 million). In total, 34.5% of revenue was generated abroad (previous year: 15.5%). EBIT amounted to EUR 15.7 million (previous year: EUR 9.6 million). The EBIT margin remained solid at 6.5%. Earnings per share totalled EUR 0.75 (2006: EUR 0.43). In 2007, total production capacity was 100 megawatts. Since production facilities ran at full capacity for most of the year, the production of solar modules almost doubled from 47 megawatts in 2006 to 88 megawatts in 2007. The number of employees in the Group rose to 555 at year-end (previous year: 316).

It was an exciting year for Jakobus Smit, Chairman of the Management Board: "Solar sells: we kept our promise of economic success with a healthy increase in revenue and a solid EBIT margin."

The foundations for future growth were laid in 2007: Production capacity at the Company´s Prenzlau location is being expanded, meaning that the Group will have a total of 180 megawatts by the end of 2008. As a result, 1,000,000 solar modules could be produced per year going forward. "To give a comparison, we will be able to produce as many solar modules in just one year in future as we produced in total between 2002 and 2007", said Smit. This capacity expansion is backed up by corresponding solar cell supply contracts: aleo solar AG announced in March 2008 that it had signed a contract with Q-Cells AG that guarantees at least 1,270 megawatt solar cells until the end of 2019. This supply contract is the most extensive in the Company´s history to date.

The German market will continue its strong growth in 2008. aleo solar AG is ideally positioned in the domestic market with its own production facilities and increasingly comprehensive sales network. In addition, it is active on the Southern European markets, in particular Spain, Italy and Greece. A number of market players put the European market volume at a minimum of EUR 20 billion by the end of 2010. To this must be added the emerging solar markets in Asia, in particular in South Korea, Japan and China. In February 2008, aleo solar AG signed a joint venture agreement with listed company Sunvim Group Co. Ltd. to establish a solar module production facility in Gaomi, Shandong province, China. CEO Smit sees further growth potential here: "We are repeatedly finding that we can position ourselves as a strong strategic partner because we have two extremely compelling arguments: our `made in Germany´ proposition and our strong `aleo´ brand. For us, Asia is the market of the long-term future. Industry experts are unanimous in expecting a market volume of at least EUR 8 billion by 2012 in South Korea, Japan and China. aleo solar AG will secure its share of this thanks to the joint venture."

aleo solar AG is expecting solar markets to continue to grow in 2008. Uwe Bögershausen, aleo solar AG´s CFO, said: "We are reiterating our forecast for financial year 2008 and are expecting consolidated revenue of at least EUR 330 million. Around 40% of this figure will be generated abroad. What is more, the EBIT margin associated with these sales will remain solid." For 2009, aleo solar AG is expecting another increase in revenue to at least EUR 380 million.

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ots Originaltext: aleo solar AG
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Branche: Alternative energy
ISIN:      DE000A0JM634
WKN:        A0JM63
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