sunways AG

EANS-News: Sunways AG
General meeting supports the Company´s further development

- Shareholders approve retention of earnings, welcome the decision to expand the corporate object and authorize the repurchase of shares - Successful business development of the year 2009 continues in the 1st quarter 2010 - Profitable growth of the Group expected in 2010

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Annual & Special Corporate Meetings/Company Information

Subtitle: - Shareholders approve retention of earnings, welcome the decision to expand the corporate object and authorize the repurchase of shares - Successful business development of the year 2009 continues in the 1st quarter 2010 - Profitable growth of the Group expected in 2010

Konstanz (euro adhoc) - Konstanz, 17 June 2010 - At the annual generating meeting held today in Singen, the shareholders of Sunways AG (FWB: SWW; ISIN DE0007332207) passed various important resolutions with respect to the further development of the Company. All of the eleven items on the agenda were approved by a great majority. Three resolutions will increase Sunways AG´s strategic flexibility in the future: shareholders voted in favor of retaining the earnings of the fiscal year 2009, expanding the corporate object as well as of a contingent resolution on the acquisition of up to 10 % of the Company´s own shares.

In his speech, Michael Wilhelm, the Chairman of the management board of Sunways AG, explained to shareholders the business development in the challenging fiscal year 2009 as well as in the 1st quarter of 2010, specifying the most important goals and factors for the Company´s successful development in the future:

- profitable growth in the fiscal year 2010 - focus on core competences, positioning the Company as a technology and quality leader - development of new, innovative business segments

"Thanks to the strategic realignment started in 2008, the Company is well prepared for the future", said Michael Wilhelm in his speech. First successes have already become apparent in the fiscal year 2009 despite the difficult environment: in the fiscal year 2009, Sunways AG generated sales from continuing operations - excluding the subsidiary  MHH Solartechnik GmbH sold as of 31 December 2009 - in the amount of EUR 177.5 million. This corresponds to a more than 20 % rise against 2008. The operating result (EBIT) in the fiscal year 2009 increased by EUR 6.3 million to EUR -0.5 million (2008: EUR -6.8 million). Mainly due to the sale of MHH Solartechnik, net income in 2009 amounted to EUR 16.9 million (2008: EUR -1.9 million) or EUR 1.46 per Sunways share (2008: EUR -0.17).

2010: Satisfactory business development and good prospects In the 1st quarter 2010, Sunways AG achieved a marked rise in sales, operating results (EBIT) and sales volumes across all product segments. Compared to the 1st quarter 2009, sales increased by 52 % to EUR 44.3 million, EBIT rose by EUR 10 million to EUR 4.7 million and net income reached EUR 2.1 million (Q1/2009: EUR -4.3 million). "We intend to continue and further expand this positive development", said Michael Wilhelm. "At the same time, we want to further consolidate our position as technology and quality leader in photovoltaics". In addition to expanding its core competences in solar cells, solar modules and solar inverters as well as to extending its distribution activities in Germany and abroad, Sunways AG aims to enhance its competences in the project and consultancy areas as well as to develop additional, innovative business segments.

Sunways AG still expects that the domestic demand for photovoltaic components will continue to be brisk in the fiscal year 2010 and anticipates a further upturn in international business. An expansion of the inverter business will continue to be restricted by the currently prevailing significant supply bottleneck in the world market with respect to inverters components. Apart from this, Sunways AG aims to double the sales volume of solar modules in the entire fiscal year 2010 and expects a profitable growth on a consolidated basis in the domestic and international markets.

2010 financial calendar 13 August 2010 - Interim report as of 30 June 2010 12 November 2010 - Interim report as of 30 September 2010

This press release (together with pictures) is also available on

Forward-looking statements This press release contains statements relating to the future business development of Sunways AG that are based on management assumptions and estimates made at the time of publication. Should the assumptions underlying the prognoses fail to be fulfilled, actual events may vary substantially from forward-looking statements. Uncertainties include changes in the political, legal, economic and business environment, exchange and interest rate fluctuations as well as the behaviour of competitors and other market participants. Sunways does not intend and is not under any obligation to update forward-looking statements on an ongoing basis as these are exclusively based on the circumstances prevailing as of the date of publication.

About Sunways Sunways AG, Konstanz/Germany, stands for consistent use of solar energy to secure long-term energy supply of man in an efficient and sustainable manner. Sunways offers technological competence, performance and highest quality - from single components to complete solar systems.Since its foundation in 1993, Sunways AG evolved into a technology leader in the photovoltaics industry serving international markets. With silicon-based solar cells, inverters, solar modules and solar systems, the company offers all components required for high-yield photovoltaic power generation. With photovoltaic solutions tailored to customers´ needs (transparent and coloured solar cells, building- integrated photovoltaic installations), Sunways turns exceptional ideas into reality. Sunways Production GmbH in Arnstadt/Germany is a subsidiary of Sunways AG; in addition, the group has own branch offices in Barcelone/Spain and Bologna/Italy. In 2009, Sunways AG with about 320 employees realised sales of about EUR 180 million. The shares of Sunways AG are listed at the Frankfurt Stock Exchange (SWW, ISIN DE0007332207). For further information, please visit

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Further inquiry note:
Dr. Harald F. Schaefer
Head Corporate Communications & Investor Relations
Tel.: +49 (0)7531 996 77-415

Branche: Alternative energy
ISIN:      DE0007332207
WKN:        733220
Index:    CDAX, Prime All Share, Technology All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / free trade

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