EANS-Adhoc: aleo solar AG reduces its sales forecast for 2012 and makes further
write-downs
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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02.10.2012
aleo solar AG (ISIN: DE000A0JM634) is anticipating consolidated sales to be
considerably lower than previously expected, amounting to approximately EUR 280
million, and consolidated profit to decline further for the business year 2012,
based on initial indications for the third quarter, which ended on 30 September
2012. The third quarter was marked by negative sales trend, especially on the
German, Italian and English solar markets, and special circumstances on the
earnings line. Contrary to expectations, the trend towards weaker business has
intensified once again: the price deterioration caused by the tariff reductions
has continued on these markets. Accordingly, the company expects turnover to be
approximately 50% lower in the third quarter of 2012 than it was in the third
quarter of 2011. Due to the change in the environment, the outlook, together
with the business or company values of the cash-generating units, was reassessed
during the third quarter based on the figures from mid-2012. This resulted in an
extraordinary depreciation in asset values of approximately EUR 13 million as of
30 September 2012. Moreover, the termination of the joint venture in China will
result in a write-down of approximately EUR 11 million for the holding in the
third quarter of 2012.
The company had already reduced its expected turnover from EUR 410 million to
EUR 370 million on 2 August 2012. An acceleration in the negative market trend
after the second quarter caused aleo solar AG to be much more pessimistic in
assessing its expected consolidated sales and results by the end of the year.
Further inquiry note:
Hermann Iding
Corporate Communications
Tel.: +49 (0)441-21988-390
E-Mail: Invest@aleo-solar.de
end of announcement euro adhoc
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issuer: aleo solar AG
Marius-Eriksen-Straße 1
D-17291 Prenzlau
phone: +49(0)441 21988-0
FAX: +49 (0)441 21988-690
mail: invest@aleo-solar.de
WWW: http://www.aleo-solar.de
sector: Alternative energy
ISIN: DE000A0JM634
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English