aleo solar AG

EANS-News: aleo solar AG
aleo solar AG generates annual revenue of EUR 462 million in 2011

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

Prenzlau/Oldenburg (euro adhoc) - aleo solar AG [ISIN: DE000A0JM634] today
announced that, based on preliminary calculations, it expects to have achieved
revenue of EUR 462 million in financial year 2011. The company had previously
anticipated annual revenue of EUR 440 million. Revenue was down 17 percent in
2011 compared to the previous year (EUR 554 million). Foreign business accounted
for around 48 percent of revenue in 2011. 

As previously announced, aleo solar AG expects to have closed financial year
2011 with negative earnings of EUR 25 to 30 million. In addition to rapidly
declining module prices, this is essentially due to the extraordinary settlement
of delivery contracts with a cell supplier dating back from 2005 to 2008. "The
prices that were fixed for the agreement running until 2019 are more in line
with the market", said York zu Putlitz, CEO of aleo solar AG. 

Effective 31 December 2011, the company´s previous Chief Sales Officer, Norbert
Schlesiger, resigned from his post on the Management Board of aleo solar AG in
agreement with the Supervisory Board. The Supervisory Board thanks Mr Schlesiger
for many years of successful service to the company. There are no plans at this
point to appoint someone else to this position. Instead, the related tasks will
be assumed by the current Management Board members. 

The 2011 annual report containing the final figures is expected to be published
on 22 March 2012.

Further inquiry note:
Hermann Iding
Corporate Communications
Tel.:   +49 (0)441-21988-390

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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