DGAP-Adhoc: SOLON AG für Solartechnik: SOLON reports continued growth

SOLON AG für Solartechnik / Quarter Results

12.11.2008 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------

SOLON reports continued growth Revenues up 91% to EUR 637.0 million EBIT up 84% to EUR 49.4 million  Net income up 78% to EUR 27.3 million 

Berlin, November 12, 2008 – SOLON AG für Solartechnik (ISIN DE0007471195),
Berlin, today presented its interim report for the nine-month period ended
September 30, 2008. Total Group revenues rose by 91% to EUR 637.0 million
in the first nine months of 2008 (prior-year period: EUR 333.9 million).
Total operating performance increased by 81% to EUR 667.3 million (prior
year period: EUR 367.7 million). The SOLON Group produced solar modules
with a total capacity of 128 MWp in the first nine months of 2008.

The System Technology segment contributed a share of 56% of Group revenues,
unchanged from the first half of 2008. The Components segment contributed
44% of Group revenues. The percentage of revenues generated outside of
Germany was unchanged at more than 80%, primarily in response to robust
demand for solar technology in Spain and Italy.

Earnings before interest, tax, depreciation, and amortization (EBITDA)
increased to EUR 58.5 million (prior-year period: EUR 32.7 million).
Earnings before interest and tax (EBIT) rose 84% to EUR 49.4 million
(prior-year period: EUR 26.9 million). Earnings as a percentage of Group
revenues were 9.2% (EBITDA) and 7.8% (EBIT).

Net income after minority interests amounted to EUR 27.3 million, rising
78% compared to the net income after minority interests of the first nine
months of 2007, which had been adjusted for one-time effects from the sale
of strategic equity investments (prior-year period adjusted: EUR 15.3
million). Earnings per share rose to EUR 2.18 (prior-year period adjusted:
EUR 1.59).

The sustained robust growth of the SOLON Group is also reflected in the
rising number of employees. As of September 30, 2008, SOLON employed 891
persons, a 37% increase from September 30, 2007. Compared to the first six
months of 2008, the ratio of personnel expenses to total operating
performance increased slightly to 4.2%.

The expansion of Group-wide production capacities in Germany, Italy, and
the USA to 500 MWp by year-end has been nearly completed. Recently, the new
production facility in Tucson, Arizona was dedicated.

The global financial crisis and the ensuing risks to the global economy
have made it significantly more difficult to forecast the development of
the global photovoltaics market. It is already possible to see the initial
impact on the investment climate and the demand for photovoltaic products.
Based on these changed overall economic conditions, the Company’s
management has, as a precaution, adjusted the forecast for 2008 as a whole
and the expectations for 2009 as follows: For 2008, revenues are now
expected to range between EUR 800 million and EUR 850 million with an EBIT
margin of more than 7%. This reflects an expected increase in revenue
compared to the previous year of at least 60%. SOLON AG will thus close the
fiscal year 2008 continuing to be one of the fastest growing publicly
traded solar companies in Germany. For 2009, in light of the increasingly
difficult market environment the Company now expects revenues to rise to
more than EUR 1 billion with a target EBIT margin exceeding 6%.

The full report of SOLON AG for the quarter ended September 30, 2008 is
available for download from the Company's website at www.solon.com.


SOLON AG 
Therese Raatz 
Investor Relations 
Tel.: +49 / 30 / 818 79 - 80 34 
Fax: +49 / 30 / 818 79 - 110 
E-Mail: investor@solon.com
DGAP 12.11.2008 
---------------------------------------------------------------------------
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 Hannover, München, Hamburg, Düsseldorf,
              Stuttgart
End of News                                     DGAP News-Service
---------------------------------------------------------------------------