EANS-Adhoc: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von
solartechnischen Produkten
Solar-Fabrik achieves volume growth and positive
EBIT also in third quarter 2011.
10.11.2011 – 08:01
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report 10.11.2011 Solar-Fabrik AG (ISIN: DE0006614712), an independent PV solar system manufacturer, has continued its success story throughout the 3rd quarter 2011 The core business 'PV solar systems', now being renamed to 'PV modules', increased the quarterly volume by ca. 12 % year-on-year. The nine months 2011 volume reached 88 MWp, an increase of ca. 9 % to the comparable 2010 period. The third quarter EBIT of the continued operations was pushed to EUR 1.0 Mio, compared to 0.3 million euros in Q3-2010. The nine months EBIT is 1.5 million euros (2010: 12.2 million euros), thereof 1.4 million euros from PV modules, compared to 12.1 million euros a year ago. The continuous price erosion of PV modules lead to an 11 % decreased nine months revenue of 131.2 million euros for the continued operations, compared to 147.4 million euros for the nine months 2010. The new business units Power Generation' and Installation' have not contributed any relevant business so far. The installation unit was established in July 2011 by the investment into SolSystems Energy GmbH. As a consequence of the previously announced discontinuation of the 90 % cell production subsidiary SEP in Singapore Solar-Fabrik has accounted operational losses of 3.4 million euros for the first nine months 2011 (2010: 0.8 million euros). The major charges are due to 0.7 million euros of fixed assets as well as 1.6 million euros prepayments for a wafer supply contract which was terminated. In total the group generated a loss of 2.9 million euros during the nine months 2011 compared to a 9.2 million euros profit a year before, representing a loss of 22 ct per share (2010: 78 ct earnings per share). The continued operations are profitable and show a group level result of 0.5 million euros (2010: 10.0 million euros) representing 4 ct earnings per share (2010: 84 ct earnings per share). Particularly the third quarter 2011 generated a group level result of 0.8 million euros (2010: -0.2 million euros) and 6 ct EPS (2010: -2 ct EPS), respectively. The volume growth in a challenging market environment proves the success of a market oriented sales strategy. The 68 % export ratio for the nine months 2011 period together with the SolSystems Energy GmbH investment towards installation and turn-key-system business represent a solid basis for the initiated redirection of the Group. The anticipated annual volume for 2011 is in the same range as 2010. Due to the significant price decrease, the anticipated 2011 annual revenue will simultaneously decline. The executive board considers the 3rd quarter EBIT performance a proof for the sustainable business strategy, based on which the continuing business units will also generate positive EBIT results for the full year 2011. Further inquiry note: Investor Relations Tel.: +49 (0)761-4000 0 E-Mail: investor@solar-fabrik.de end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten Munzinger Str. 10 D-79111 Freiburg phone: +49(0)761 4000 0 FAX: +49(0)761 4000 199 mail: info@solar-fabrik.de WWW: http://www.solar-fabrik.de sector: Alternative energy ISIN: DE0006614712 indexes: stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Stuttgart, Düsseldorf, München language: English