aleo solar AG

EANS-News: aleo solar AG
aleo solar AG announces positive earnings for the year´s first half and lowers revenue forecast because of massively falling prices

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
quarterly report

Prenzlau/Oldenburg (euro adhoc) - aleo solar AG (ISIN: DE000A0JM634) today
announced that it generated revenue of EUR 232.0 million in the first six months
of 2011. This means that aleo solar's revenue decreased by 16.2% compared with
the first six months of 2010 (EUR 277.0 million). Earnings before interest and
taxes (EBIT) came in at EUR 3.4 million (EUR 29.3 million), and the EBIT margin
was 1.5 percent (10.6 percent). Earnings per share amounted to EUR 0.13 (EUR
1.68); production volume rose to 161.6 megawatts (132.8 MW). "Compared to the
extraordinarily strong demand of the previous year, demand in Germany was only
moderate in the first half of 2011," says York zu Putlitz, CEO and CFO of aleo
solar AG. "Additional installed PV capacity plummeted by over 50% in the months
of March and April, for example, and an even steeper decline is anticipated for
June." In the first quarter, cell manufacturers´ rigid pricing policies also
prevented module prices from falling in tandem with feed-in tariffs at the
beginning of the year. 

"As in the first three months of the year, we largely compensated for the quiet
business in Germany in the second quarter with growth on the international
photovoltaic markets, which shows the success of our internationalisation
strategy," zu Putlitz adds. aleo solar AG generated 49.9% of total revenue
outside Germany in the first half of 2011, compared with just 17.8% in the first
half of 2010. This lifted the company´s international revenue from EUR 49.4
million in the first half of 2010 to EUR 115.7 million in the first six months
of 2011. 

The surplus capacity of solar cells and modules worldwide is currently putting
huge pressure on prices. The increased returns that can be generated by
operators of PV installations as a result of this are expected to boost demand
in the further course of the year and stabilise prices. While unit sales of aleo
modules are developing largely as planned, revenue is falling faster than
expected. For this reason, aleo solar AG has revised its revenue forecast for
2011 downwards: instead of annual revenue of EUR 560 million, the company is now
forecasting annual revenue of EUR 515 million.

Further inquiry note:
York zu Putlitz
Tel.:   +49 (0)441-21988-770

end of announcement                               euro adhoc 

company:     aleo solar AG
             Gewerbegebiet Nord, Marius-Eriksen-Straße 1
             D-17291 Prenzlau
phone:       +49(0)441 21988-0
FAX:         +49 (0)441 21988-69
sector:      Alternative energy
ISIN:        DE000A0JM634
indexes:     CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, München 
language:   English

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