EANS-Adhoc: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von
solartechnischen Produkten
Preliminary annual financials underline the overall
competitiveness, EBIT impacted by non-cash one-time effects. High equity ratio
and net cash ...
01.03.2013 – 18:09
-------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- Financial Figures/Balance Sheet 01.03.2013 According to the preliminary and unaudited annual financials, Solar-Fabrik AG (ISIN: DE0006614712) has managed to maintain its standing also in a very challenging 2012 market environment, despite a revenue decrease by ca. 80.8 million euros to ca. 96.1 million euros. The company's view is backed by an EBITDA loss limited to ca. -4.4 million euros (ca. -4.5% of revenue) under these very challenging market conditions (2011: ca. +4.6 million euros), and an operating cash flow of -1.5 million euros (2011: +3.1 million euros), which is at a level where it has only minimal impact on the financial strength of the company. Driven by high and unplanned asset write-offs of 14.0 million euros the EBIT loss reaches ca. 21.8 million euros (2011: 0.8 million euros profit), however, the equity ratio increased to 71.9% (2011: 63.3%). Solar-Fabrik also shows a net-cash position of ca. 15 million euros, a very rare strength in the PV solar industry. The revenue decrease is driven by both price and volume and reflects the competition in an oversupply market. In 2012 Solar-Fabrik's solar module business achieved a volume of 99 MWp (2011: 127 MWp) at an export ratio of ca. 60%, similar to 2011. The average sales price decreased by ca. 42% during 2012. Since these financial results for 2012, the crisis year of the PV solar industry, have only little impact to the financial strength of the company the executive board considers Solar-Fabrik well positioned for the future. Based on high cash availability Solar-Fabrik is also able to push the new businesses turn-key installation and power generation throughout 2013, together with further regional expansion. The Italian market currently generates stable demand, with the February demand already beyond the year ago level, and the Solar-Fabrik production is on a three-shift schedule starting in March. Together with the solid capital base the executive board considers this beginning of the year a good starting point to successfully implement the company strategy. The final and audited financials for 2012 will be published on March 28, 2013. 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: free trade: Berlin, München, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English