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Solar-Fabrik AG

euro adhoc: Solar-Fabrik AG
Financial Figures/Balance Sheet
Solar-Fabrik AG increased its sales revenue in the first two quarters of 2008 by some 99 % to 102.079 million euros; the Company confirms its target for sales revenue of between 220 ...

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
6-month report
08.08.2008
Ad hoc press release of August 08, 2008
In the first two quarters of 2008, Solar-Fabrik AG (ISIN: 
DE0006614712) increased its consolidated sales by some 99 % (102.079 
million euros) compared to Q1 and Q2 of 2007 (51.335 million euros). 
EBIT is reported at 1.768 million euros (prior year 1.470 million 
euros). This includes net currency conversion losses of 2.582 million
euros (due to the US dollar development these losses associated with 
last year transactions have only affected the Q1 2008. A positive US 
dollar development will further relieve and improve the group results
for the current year; the implemented treasury management minimizes 
and optimizes the currency risks). Adjusted for net currency 
conversion losses, EBIT amounts to 4.350 million euros, equivalent to
a margin of around 4.2 %. Demand remains high, which will result in 
complete capacity utilization and greater sales and income figures in
the next two quarters.
In the first two quarters of 2008, the Solar-Fabrik Group's export 
ratio was 64.6 %. Solar-Fabrik is on schedule and progressing well 
with its internationalization strategy. Strong growth is posted 
mainly in Asian countries (particularly China), Spain, France, and 
Belgium.
In first two quarters of 2008, the "Wafer" Division at Solar-Fabrik 
posted an overall volume of around 37.632 million euros, some 26.030 
million euros of which was generated outside the Group. This Division
thus increased its sales by 8.182 million euros over Q1 and Q2 of 
2007, equivalent to a growth rate of approximately 28 %. The 
segmental result amounted to 4.236 million euros (3.751 million euros
in Q1 and Q2 of 2007), with the EBIT margin reported at 11.3 %.
The "Solar Power Systems" Segment posted 75.942 million euros in 
sales in the first half of 2008, almost all of which was outside the 
Group. Compared to the first half of 2007, sales grew by some 143 % 
or 44.717 million euros. Overall, EBIT is posted at minus 247,000 
euros (compared to -2.323 million euros in the previous year) when 
adjusted for net currency conversion losses, an improvement of 2.076 
million euros. As additional production capacity will be added in the
second half of 2008, these results are expected to further improve. 
With the capacity created, the Solar Power Systems segment has 
reached critical mass and is therefore expected to make a positive 
contribution to corporate results over the long term.
In the first half of 2008, the "Solar Cell" Division posted a loss of
23,000 euros (compared to a loss of 611,000 euros in the first half 
of 2007). This division thus improved its performance by some 588,000
euros over the previous year. In Q2 2008, a positive segmental result
of 103,000 euros is posted. This positive trend is expected to 
continue for the year as a whole.
The "Wafer Processing" segment reports a segmental result of 183,000 
euros (previous year 506,000 euros). The expansion of this division 
is being stepped up further. The second plant started production in 
the second quarter of 2008, doubling production capacity. This 
division now has an annual capacity of 600 MT at its production site 
in India. Plans for the second half of the fiscal year forecast a 
clear improvement in results.
Indeed, in light of the capacity expansions in the first two quarters
of the fiscal year under review and great demand for our products, 
the Solar-Fabrik Group expects all divisions to improve results 
significantly. For fiscal 2008, the prudent sales revenue target 
remains at between 220 million euros to 250 million euros and an 
EBIT-margin of between 4.2 % to 5 %, which we hereby confirm once 
again.
end of announcement                               euro adhoc

Further inquiry note:

Martin Schlenk
Tel. +49(0)761 4000 207
E-Mail: m.schlenk@solar-fabrik.de

Branche: Alternative energy
ISIN: DE0006614712
WKN: 661471
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse München / free trade

Plus de actualités: Solar-Fabrik AG
Plus de actualités: Solar-Fabrik AG