SOLON AG für Solartechnik / Half Year Results
19.08.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
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--------------------------------------------------------------------------- Revenues up 112% to 410.6 million EBIT up 101% to 31.5 million  Net income up 103% to 17.9 million  More than 80% of Group revenues generated in countries outside of
Germany
Berlin, August 19, 2008 SOLON AG für Solartechnik (ISIN DE0007471195),
Berlin, today presented its interim report for the six-month period ending
June 30, 2008. Total Group revenues rose by 112% to 410.6 million in the
first half of 2008 (H1 2007: 193.7 million). Total operating performance
increased by 110% to 446.9 million (H1 2007: 213.2 million). The SOLON
Group produced solar modules with a total output of 84 MWp in the first
half of 2008.
The System Technology segment contributed a share of 56% of Group revenues,
nearly unchanged from the first quarter of 2008. The Components segment
contributed 44% of Group revenues. The percentage of revenues generated
outside of Germany increased slightly from the first quarter of 2008,
reaching 80%, primarily in response to robust demand for solar technology
from Spain and Italy.
Earnings before interest, tax, depreciation, and amortization (EBITDA)
increased to 37.0 million (H1 2007: 19.5 million). Earnings before
interest and tax (EBIT) rose 101% to 31.5 million (H1 2007: 15.7
million). Earnings as a percentage of Group revenues were 9.0% (EBITDA) and
7.7% (EBIT).
Net income after minority interests amounted to 17.9 million, rising 103%
compared to the net income after minority interests of the first half of
2007, which had been adjusted for one-time effects from the sale of
strategic equity investments (H1 2007 adjusted: 8.8 million). Earnings per
share rose to 1.43 (H1 2007 adjusted: 0.93).
The sustained robust growth of the SOLON Group is also reflected in the
rising number of employees. As of June 30, 2008, SOLON employed 863
persons, a 44% increase from June 30, 2007. Compared to the first quarter
of 2008, the ratio of personnel expenses to total operating performance
remained unchanged at 4.0%.
The expansion of Group-wide production capacities in Germany, Italy, and
the USA to 500 MWp by year-end is proceeding according to plan. The SOLON
Management Board confirmed its projections for the fiscal year 2008 as a
whole.
The complete interim financial report of SOLON AG for the six months ended
June 30, 2008 is available for download from the Companys website at
www.solon.com.
SOLON AG
Therese Raatz
Investor Relations
Phone: +49 (0) 30 / 818 79 - 80 34
Fax: +49 (0) 30 / 818 79 - 110
E-mail: investor@solon.com
DGAP 19.08.2008
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Language: English
Issuer: SOLON AG für Solartechnik
Am Studio 16
12489 Berlin
Deutschland
Phone: +49 (0)30 81 87 9-8034
Fax: +49 (0)30 81 87 9-110
E-mail: investor@solonag.com
Internet: www.solonag.com
ISIN: DE0007471195, DE 000 A0S TYS 2,
WKN: 747119, A0S TYS
Indices: TecDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: SOLON AG für Solartechnik: SOLON doubles revenues and net income in the first half of 2008
| Source: EQS Group AG