31.05.2006 – 08:05

ErSol Solar Energy AG

euro adhoc: ErSol Solar Energy AG
quarterly or semiannual financial statement / ErSol doubles consolidated net income and operating result in Q1

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  The issuer is responsible for the content of this announcement.

31.05.2006

ErSol Solar Energy AG (ErSol) was able to significantly increase its
sales and earnings compared to the previous year in Q1 2006.
Operating result (EBIT) more than doubled in the first quarter of
2006. It totalled EUR 3,364 thousand and was thus up 103.6% compared
to the first quarter of 2005 (EUR 1,652 thousand). This increase was
attained even though there were already higher operating expenses
(for example for personnel) from implementing the company’s
reinforced growth strategy. ErSol’s consolidated net income also
increased significantly compared to the previous year. This totalled
EUR 1,078 thousand in Q1 2005, and almost doubled in Q1 2006 - up
90.7% to EUR 2,056 thousand and thus right in line with the targets
ErSol had set itself. Consolidated sales in the first three months of
2006 totalled EUR 25,730 thousand, and were thus up 122.7% on the
first quarter of 2005, when they amounted to EUR 11,555 thousand.
This substantial growth is due to the expansion of production
capacity at the Erfurt site: this was increased over the year from 25
MWp to 60 MWp. It is also due to the increase in the group of
consolidated companies: from 24 February 2006, this also included the
California-based subsidiary Silicon Recycling Services Inc. (SRS).
However, new, long-term business relations generated a substantial
increase in sales. The exported share on sales increased from 29% in
the first quarter of last year, rising to 45% in the first quarter of
2006.

end of announcement                               euro adhoc 31.05.2006 07:30:35

Further inquiry note:

Sonja Teurezbacher
Investor Relations Manager
+49 (0)361 219 5130
sonja.teurezbacher@ersol.de

Branche: Alternative energy
ISIN: DE0006627532
WKN: 662753
Index: CDAX, TecDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard