Transfer of turnover to the new business year


Hamburg, (PresseBox) - .
-Guidance for turnover and result for 2008 increased by 10 %
- EBIT-guidance for 2007 decreased from EUR 5 million to EUR 2 million

The Executive Board of Reinecke + Pohl Sun Energy AG today has increased the guidance for 2008 for turnover from EUR 100 million to EUR 110 million with an EBIT of EUR 6 to 8 million. The EBIT guidance for 2007 has been decreased from EUR 5 to 2 million. These changes result from the transfer of turnover from projects from 2007 to the business year 2008. These projects are part of an order with a volume of more than EUR 20 million that has been realised since September 2007 for the Danish DKA Renewable Energy A/S. This order comprises 46 single projects of solar power plants between 60 and 600 kWp, which are individually taken over and paid by the customer. Based on conservative principles of project accounting, some of these projects will affect net income only in 2008 due to delays in the legal takeover of the projects. For this reason, turnover planned for 2007 is shifted to the first quarter of 2008. EBIT 2007 will be additionally affected by non-recurring items, such as the change in the Executive Board as well as higher software and consulting costs due to delays in the implementation of the ERP-system.

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