aleo solar AG

EANS-News: aleo solar AG
aleo solar AG confirms preliminary figures for 2009 and announces change of the Management Board

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annual report/Management Changes

Prenzlau/Oldenburg (euro adhoc) - The aleo solar AG (ISIN: DE000A0JM634) began the year 2010 with a positive start. During the first two months, the company´s sales rose  approx. 250 percent over the same period of the year before. In the financial year 2009 aleo solar achieved a revenue of EUR 376.1 million (previous year: EUR 360.5 million) and EBIT of 16.0 million (previous year: EUR 23.8 million). Despite the difficult market environment, the EBIT margin was a solid 4.3 percent (previous year: 6.6 percent). Earnings per share are expected to come in at EUR 0.78 (previous year: EUR 1.20).

The Supervisory Council in its meeting today has fulfilled the request of the Management Board to prematurely terminate the employment contracts of Mr. Jakobus Smit, Chairman of the Management Board (CEO), Mr. Heiner Willers, Chief Operating Officer (COO) and Mr. Uwe Bögershausen, Chief Financial Officer (CFO), as of March 31, 2010.  "With the successful development of aleo solar AG and now the entry of Bosch as a new large stakeholder, the company begins a new phase. Initial changeover activities took place during these first months, and now is the time to complete the transition," said Smit.   While these gentlemen pursue new challenges, the three gentlemen will continue to make their advice available to the company in future.

Mr. York zu Putlitz (45) becomes Chairman of the Management Board, who at the same time will serve as Chief Financial Officer (CFO).   Since 1996, zu Putlitz has worked in the Bosch Group in various functions.  Among other responsibilities, he worked as Chief Auditor in the Auditing department and as Commercial Plant Manager.   Currently he works in the Corporate Planning, Controlling and Mergers & Acquisitions department.  Dr. Jens Sabotke (55) becomes Board member responsible for Technology and Development.  Sabotke has acquired comprehensive experience in the capital goods industry and has worked for the Bosch Group since 1988.  He currently works as Technical Plant Manager in the Automotive Electronics division.  Mr. Norbert Schlesiger (44) becomes Board Member responsible for Sales.   Schlesiger has an in-depth knowledge of the solar industry. Since early 2007, he is in charge of Distribution activities of aleo solar AG and has made an important contribution to the company´s growth thus far.

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ots Originaltext: aleo solar AG
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Further inquiry note:
Uwe Bögershausen
Tel.:    +49 (0)441-21988-770

Branche: Alternative energy
ISIN:      DE000A0JM634
WKN:        A0JM63
Index:    CDAX, Prime All Share, Technology All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / free trade

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