euro adhoc: aleo solar AG
quarterly or semiannual financial statement
aleo
solar reports Q3 figures and revises forecasts
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
07.11.2006
aleo solar AGs revenue in the first nine months of 2006 increased to EUR78.9 million (comparable period of 2005: EUR76.6 million). Ten percent of this figure was generated abroad, compared with a mere one percent in the prior-year period. Earnings before interest and taxes (EBIT) amounted to EUR5.7 million (prior-year period: EUR12.8 million). In Q3 2006, fewer solar modules were sold in Germany than aleo solar had expected. Increased purchase prices for solar cells and the decline in the selling price of solar modules impacted results. Until now, the Company had assumed that a strong fourth quarter would allow it to reach its annual targets. Now, an analysis of the sales figures for October presents a different picture: following the abrupt decline in demand caused by the discussion of module prices in Germany in July/August, aleo solars sales volumes rose steadily again, with a clear rise in customer inquiries being recorded in October in particular. However, to date this has not translated into the level of orders expected. In addition, a portion of the revenue from contracts with Spanish customers planned for this year will be postponed to the first quarter of 2007. Therefore, despite its successful international business, aleo solar is revising its forecasts for full-year 2006: the Company aims to increase its 2005 revenue of EUR106.9 million to EUR116 million in the current year. Until now, growth of over 25 percent had been planned. Aleo solar has already reacted to the change in market conditions and has cut prices for solar modules in the fourth quarter, as well as boosting its sales activities. For full-year 2006, aleo solar is expecting a sound EBIT margin of between 6 and 7 percent. Aleo solar will further expand its position on the international market so as to make it increasingly independent of the German market.
end of announcement euro adhoc 07.11.2006 08:39:25
Further inquiry note:
Yvonne Meyer / Franz Nieper
Investor Relations, Legal & Compliance
Telefon: +49(0)441-21988-77
E-Mail: invest@aleo-solar.de
Branche: Alternative energy
ISIN: DE000A0JM634
WKN: A0JM63
Index: CDAX, Technologie All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
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