- 29.08.2006, 08:36:19
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- OTE0002
Company achieves EBIT margin of 11 percent and pushes ahead with internationalization
aleo solar announces half-year figures for 2006
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ots-CorporateNews transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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Prenzlau (euro adhoc) - OLDENBURG/PRENZLAU, 29 August 2006. aleo solar AG (ISIN
DE000A0JM634) today announced that it increased sales in the first six months of
the current financial year by 17 percent to EUR 55.7 million compared to the
previous year (EUR 47.6 million). Earnings before interest and taxes (EBIT) were
EUR 6.1 million (previous year: EUR 7.9 million). Despite rising purchase prices
for solar cells, aleo managed to achieve an EBIT margin of 11 percent, which is
above average compared to the market overall. Earnings before interest, taxes,
depreciation and amortization (EBITDA) in the reporting period were EUR 7.1
million (previous year: EUR 8.6 million). As of 30 June 2006, the solar module
specialist had 239 employees (previous year: 190 employees). aleo produced solar
modules with a total rated power of 22.9 megawatts in the first half of the
year. This is an increase of 56.7 percent compared to the first six months of
2005. The recognized quality of aleo products is reflected in the fact that one
out of four solar modules were manufactured as OEM products.
"As expected, the market in Germany is evolving into a buyer's market," said
Jakobus Smit, member of the management board of the solar module specialist.
"aleo is a strong brand that will benefit us here in the future." Foreign
business has developed positively, as planned. "We've begun to set up a
manufacturing and sales company in Spain," said Smit. "We also established an
international sales team to promote expansion in new markets." This has already
been a success: Shortly after the launch, aleo's export rate rose to 5.1% in the
first six months, compared to 0.5% in the same period last year. By the end of
the year, the export rate should be at least twice as high. The company is
registering high demand, particularly in Spain. Sales activities are about to
begin in Italy. Besides these two countries, Greece and France have now also
passed laws concerning the feeding of electricity into the grid which are
attractive to customers and which will stimulate the market for photovoltaic
systems. Smit said, "We're just getting started on the international markets. We
see enormous potential for aleo here."
"Silicon remains in short supply around the world," said Heiner Willers, also a
member of the management board of aleo. "We work closely together with solar
cell manufacturers and have covered our solar cell requirements through medium-
and long-term supply contracts." In April 2006, the company also acquired a 19%
interest in Johanna Solar Technology GmbH. In Brandenburg, Johanna Solar is
currently building one of the world's largest, most state-of-the-
art plants for the mass production of next-generation, silicon-free thin-film
modules. "In our estimation, this is currently the most powerful thin-film
technology," Smit said. The technology is based on copper, indium, gallium,
sulfide and selenium (CIGSSe). It is a high-performance technology that makes
manufacturers independent of silicon, which is a rare raw material.
The focus of the first half of 2006 was on preparing for the IPO of aleo solar
AG. The stock was admitted to the Prime Standard of the Frankfurt Stock Exchange
on 14 July 2006. The company received gross proceeds of EUR 38.5 million from
the IPO. The fresh capital will be invested in the expansion of the company in
growth markets in southern Europe and in cutting-edge technologies.
Despite declining solar module prices, aleo will once again record an EBIT
margin that is above average compared to the market overall. The company plans
to boost sales for the full 2006 financial year by 25 to 35 percent compared to
the previous year (EUR 106.9 million).
The Company:
aleo solar AG (previously S.M.D.) maintains distribution offices in Oldenburg
(Lower Saxony) and manufacturing facilities in Prenzlau (Brandenburg). Founded
in September 2001, the company manufactures solar modules based on silicon
cells. Around 230 employees currently work at both locations. The solar module
manufacturing facility in Prenzlau has an annual capacity of 90 megawatts, which
makes it one of the largest facilities of its kind. In 2005, aleo solar AG
achieved sales of EUR 106.9 million. aleo solar AG (ISIN: DE000A0JM634) has been
listed on the Prime Standard segment of the Frankfurt Stock Exchange since July
2006. By acquiring shares in the Brandenburg-based technology company Johanna
Solar Technology GmbH, aleo solar AG has attained access to the promising future
of thin-film technology.
Kontakt:
Investor Relations | aleo solar AG | Franz Nieper |Osterstr. 15| 26122 Oldenburg
T 0441 219 88 35 | F 0441 219 88 69| E [email protected]
HOSCHKE & CONSORTEN| Grit Muschelknautz | Deichstraße 29| 20459 Hamburg
T +49 (0)40 36 90 50 - 31 | F +49 (0)40 36 90 50 -10| E
[email protected]
Further inquiry note:
Yvonne Meyer
Investor Relations, Legal & Compliance
Telefon: +49(0)441-21988-58
E-Mail: [email protected]
end of announcement euro adhoc 29.08.2006 08:37:22
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emitter: aleo solar AG
Gewerbegebiet Nord
D-17291 Prenzlau
phone: +49(0)441 219 88 0
FAX: +49 (0)441 219 88 69
mail: [email protected]
WWW: http://www.aleo-solar.de
ISIN: DE000A0JM634
indexes: CDAX, Technologie All Share, Prime All Share
stockmarkets: official dealing/prime standard: Frankfurter Wertpapierbörse, free
trade: Börse Berlin-Bremen, Hamburger Wertpapierbörse,
Baden-Württembergische Wertpapierbörse, Börse Düsseldorf,
Bayerische Börse
sector: Alternative energy
language: English
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