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Solar-Fabrik AG

EANS-Adhoc: Solar-Fabrik AG specialises in solar power systems, reorganised company structure, order volume for 2009 already more than 80 MWp, improved margin thanks to falling supplier prices

  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.
3-month report
15.05.2009
In the first quarter of 2009, Solar-Fabrik AG (ISIN:  DE0006614712)  
achieved  a group turnover of 22,529,000 euros (previous year:  
53,102,000 euros).  Earnings before interest and taxes (EBIT) were 
-289,000  euros  (previous  year:  519,000 euros). In the first 
quarter of 2009, there was a marked  focus  on  the  German solar 
market, which, however, was less productive than the average  of  
previous years due to the weather. As expected, the Spanish market 
declined  due  to  the amended  funding  regulations.  Nevertheless, 
Solar-Fabrik  is  profiting  from falling supplier prices,  as  the  
company  has  generally  not  signed  binding contracts.
On 31 March 2009, turnover of  21,573,000  euros  in  the  segment  
solar  power systems had  been  achieved  (previous  year:  
34,893,000  euros).  Despite  the decline in turnover and the 
decrease in the gross margin  from  10.7%  to  9.3%, the segment 
result increased by 785,000  euros  from  -2,685,000  euros  in  the 
previous financial year to -1,900,000 euros.
As a consequence of the slump in the silicon market and the fact that
GEWD  Ltd. filed for bankruptcy on 31 March 2009, turnover in the 
wafer segment had  fallen by 17,267,000 euros from 18,181,000 euros 
to 914,000 euros on 31 March 2009.  It was possible, by the end of 
2008, to temporarily reverse provisions for  onerous contracts to P&L
by returning deliveries to suppliers in  exchange  for  credit. As a 
consequence, the segment result is 1,588,000 euros.
In the first quarter of 2009, the  "solar  cells"  business  division
posted  a profit of 303,000 euros (previous year: -126,000 euros). A 
positive  result  is expected for the whole financial year.
The "wafer preparation" segment  achieved  a  balanced  result  
(previous  year: 82,000 euros). A positive result is expected for the
whole financial year.
Despite the financial and economic crisis,  Solar-Fabrik  AG  
currently  has  an order volume exceeding 80 MWp.  The  company  aims
to  achieve  a  double-digit percentage increase in production and 
sales, compared with  2008,  and  to  gain market share in the 
European solar market. At the end of the  first  quarter  in 2009, 
Solar-Fabrik started up its third production facility in Freiburg and
has thus increased production capacity to 130 MWp. This production  
line  is  highly automated and is a guarantee of increased 
productivity. Solar-Fabrik expects  an EBIT margin of at least 3 % in
the solar power systems segment for  the  current financial year, 
which is characterised by a high degree of planning security.
end of announcement                               euro adhoc

Further inquiry note:

Investor Relations
Tel.: 0761 - 4000 0
info@solar-fabrik.de

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

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Plus de actualités: Solar-Fabrik AG