EANS-Adhoc: SOLON SE SOLON Revises Sales and Earnings Targets for 2011
--------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------
19.07.2011
Berlin, July 19, 2011. In response to the weak business performance in the first
half of 2011, the Management Board of SOLON SE has revised its budget for the
year as a whole.
After a weak first quarter, demand picked up only slightly in the second
quarter. Accordingly, the quarter is likely to fall short of targets once again.
SOLON´s management expects that
it will likely not be possible to fully offset the lower sales in the first six
months in the remainder of the year and has therefore revised its corporate
planning. Group sales for the year as a whole are now anticipated to reach
around EUR500 million. The last projection, updated on the occasion of the
publication of the interim report as of March 31, 2011, was that Group sales
would be at the same level as in the prior year (2010: EUR619 million).
The reason for the weaker performance is the continuation of the dissatisfactory
demand situation in Germany and Italy, the company´s most important markets. In
Germany, demand picked up only slightly in the second quarter after the
exceptionally weak start to the year. Demand collapsed in Italy, in anticipation
of the change in subsidy conditions effective June 1, 2011. There, too, the
recovery of business has been extremely slow
since market participants first had to adapt to the new conditions.
Due to the weaker sales development, SOLON has also adjusted its earnings
targets for the current year. The company is now expecting a significant loss in
terms of both EBIT and Group earnings.
SOLON SE
Therese Raatz
Investor Relations
Telefon: +49 / (0)30 / 818 79 - 9305
Fax: +49 / (0)30 / 818 79 - 9300
E-Mail: investor@solon.com
Further inquiry note:
Therese Raatz
Head of Corporate Communications
Tel.: +49 30 818 79-9305
E-Mail: therese.raatz@solon.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: SOLON SE
Am Studio 16
D-12489 Berlin
phone: +49 30 818 79-9305
FAX: +49 30 818 79-9300
mail: investor@solon.com
WWW: www.solon.com
sector: Energy
ISIN: DE0007471195
indexes: Midcap Market Index, CDAX, HDAX, Technology All Share, GEX, ÖkoDAX
stockmarkets: regulated dealing/prime standard: Frankfurt, regulated dealing:
Berlin, Hamburg, Stuttgart, Düsseldorf, München
language: English