DGAP-News: S.A.G. Solarstrom AG: 2009 sales and earnings better than expected

 | Source: EQS Group AG EQS Group AG 

S.A.G. Solarstrom AG / Final Results

31.03.2010 16:24 

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                Corporate News 

 

S.A.G. Solarstrom AG: 2009 sales and earnings better than expected 

  - Consolidated group sales up 56% to EUR152.9 million despite difficult
    market environment

  - Tripling of EBIT to EUR8.5 million, EBIT margin of 5.6%

  - Forecast for 2010: sales of between EUR190-EUR210 million, EBIT of
    between EUR8-EUR11 million

  - Dividend recommendation, for the first time, of EUR0.10 per share 

Freiburg, March 31, 2010. S.A.G. Solarstrom AG, Freiburg, (German security
identification number: 702 100, ISIN: DE0007021008) posted impressive
results for the financial year 2009 that came in above the company's own
expectations. Sales revenue grew by EUR55.2 million to EUR152.9 million
(previous year EUR97.7 million) with EBIT improving from EUR2.8 million to
EUR8.5 million in 2009. This also boosted the group profit which increased
significantly to EUR7.7 million after taxes (previous year: EUR2.0
million). As was the case in 2008, all four S.A.G. business areas generated
a positive operating profit. The business area Project Planning and Plant
Construction made a significant contribution to the improvement in sales
and earnings.

S.A.G. Solarstrom AG's ability to quickly develop new markets and
demonstrate flexibility when faced with changing market conditions were
decisive factors in the marked successes achieved in the financial year
2009. In addition, considerably higher sales levels combined with a
disproportionately low increase in costs allowed the company to register a
significant improvement in earnings. The EBIT margin improved to 5.6 %,
from 2.9 % in the previous year.

As planned, S.A.G. Solarstrom AG will publish detailed information on the
individual segments in the Annual Report on April 22, 2010.

In 2010, S.A.G. Solarstrom AG expects sales of between EUR190 and EUR210
million and an EBIT of between EUR8 and EUR11 million. The company's
long-term EBIT target margin remains at between 5 and 10 %. This outlook
assumes that, during the course of 2010, financing of large-scale projects
can be assured and that components will continue to be available in
quantities sufficient to match growth, in spite of the continuing
reluctance of banks to provide finance.

Dividend of EUR0.10 per share recommended

For the first time since the founding of the company, S.A.G. shareholders
will benefit from the company's excellent earnings performance by way of a
dividend. 'Our shareholders have had to be patient up till now, but our
strong group earnings and positive cash flow mean that we will propose a
dividend of EUR0.10 per share at the annual general meeting on June 28,
2010', says Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG.


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Information and Explaination of the Issuer to this News:

About S.A.G. Solarstrom AG

S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN:
DE0007021008) of Freiburg, Germany, are a manufacturer-independent provider
of high-quality photovoltaic plants configured to customers' individual
needs. The group constructs efficient plants of all sizes both in Germany
and abroad. S.A.G. Solarstrom AG also produce solar energy at their own
plants.

S.A.G. Solarstrom AG's service portfolio covers the entire life cycle of
photovoltaic plants, including energy- and weather-data management, yield
reports, and remote maintenance, as well as insurance and financing. The
group thus offers a comprehensive value chain in photovoltaics, from yield
reports, planning, construction, operations, and monitoring to
optimization, repowering, and deconstruction.

Founded in 1998, S.A.G. Solarstrom AG are considered pioneers in the solar
industry. Around 160 specialists work at the four locations in Germany and
subsidiaries in Italy, Spain, Austria, and Switzerland.

S.A.G. Solarstrom AG are listed on the open market, Entry Standard of the
Frankfurt Stock Exchange as well as according to the rules and standards
M:access of the Munich Stock Exchange.

Further information: www.solarstromag.com



Contact:
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com 

Public Relations / Investor Relations 
Jutta Lorberg
phone: +49-(0)761-4770-311
e-mail: pr@solarstromag.com / ir@solarstromag.com 




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