Press release BoxID: 120780 (aleo solar AG)
  • aleo solar AG
  • Marius-Eriksen-Straße 1
  • 17291 Prenzlau
  • Contact person
  • Andreas Hoschke
  • +49 (40) 369050-55

aleo solar AG reports H1/2007 figures and lifts forecast

H1/2007: revenue EUR 90.1 million (+61.9), of which 34.20% generated abroad: production output: 38.2 MW (+66.9%)

(PresseBox) (Prenzlau, ) Following the publication of its H1/2007 results, aleo solar AG (ISIN: DE000A0JM634) has lifted its forecast for full-year 2007. Instead of the EUR 185 million in revenue planned to date for 2007, the Company now expects organic revenue growth to approximately EUR 200 million, with the EBIT margin remaining solid. The proportion of international revenue is expected to amount to approximately 30%, and the Company is reiterating its goal of generating 50% of revenue abroad until the end of 2010. The solar cells needed to achieve this increase in revenue have already been secured in full under existing contracts.

The increased forecast is based on the continuing high demand for solar modules. Revenue climbed by 61.9% in the period from 1 January to 30 June 2007, to EUR 90.1 million (H1/2006: EUR 55.7 million). The proportion of international revenue amounted to 34.2%. EBIT totalled EUR 6.0 million (H1/2006: EUR 6.1 million), resulting in an EBIT margin of a solid 6.7%. The Company increased its production output to 38.2 MW (H1/2006: 22.9 MW). Earnings per share totalled EUR 0.27 (H1/2006: EUR 0.28).

Business in Germany continues to be marked by sustained high demand. International growth was stronger than expected, with the increased marketing and sales activities starting to bear fruit. The Spanish market reacted to the opening of aleo solar’s own factory near Barcelona and the establishment of a sales organisation in Spain by placing corresponding orders. In Italy, aleo solar AG has seen a significant increase in new orders following the passing of simplified legislation in February. As a result, 34.2% of total revenue was generated outside Germany in the period up to the end of the first half of 2007; the corresponding figure was 5.1% during the prior-year period.

aleo solar AG

aleo solar AG, with sales operations in Oldenburg (Lower Saxony) and manufacturing facilities in Prenzlau (Brandenburg), was formed in September 2001 and produces solar modules using silicon cells. Its facility in Prenzlau has an annual capacity of 90 megawatts, which will be increased to 170 megawatts by the end of 2008. At the beginning of 2007, production also started in Santa María de Palautordera (Spain) with an annual capacity of 10 megawatts. The Company generated revenue of EUR 242.1 million in 2007 with 555 employees. Since July 2006, aleo solar AG has been listed in the Frankfurt Stock Exchange's Prime Standard (DE000A0JM634). The Company's acquisition of a 19%

equity interest in the Brandenburg-based technology enterprise Johanna Solar Technology GmbH has given it access to the promising future technique of thin-film technology. Since the start of 2008, aleo solar AG has also held a 50% interest in avim solar Co. Ltd., which is a joint venture with the Sunvim Group Co. Ltd. for the construction of a solar module production plant in China.