EANS-Adhoc: SOLON SE / SOLON SE starts the year with a significant gain in revenue

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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.
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12.05.2010

SOLON SE starts the year with a significant gain in revenue

- Revenue rises 132% to EUR88.8 million
- Strong demand in the components business
- EBIT loss of EUR6.6 million
- Net loss after minority interests of EUR8.2 million

Berlin, May 12, 2010 - Berlin-based SOLON SE (ISIN DE0007471195), today
published its interim report for the period ended March 31, 2010. The report
shows that the Company more than doubled its Group revenue compared to Q1 2009.
This favorable development was due in particular to the high demand for solar
systems in the German market which proved to be very robust despite the long
winter. In contrast, the system technology business continued to lag behind
expectations. In the opinion of management, this was due not least to the
wait-and-see attitude of customers related to the fact that progress was not
achieved in resolving the Group's funding situation until late March.

The most important performance indicators of the first quarter of 2010 are
broken down as follows: Group revenue rose by 132% to EUR88.8 million (Q1 2009:
EUR38.3 million). EBIT and EBITDA also improved significantly to an EBIT loss of
EUR6.6 (Q1 2009: EBIT loss of EUR20.7 million) and EBITDA loss of EUR2.4 million
(Q1 2009: EBITDA loss of EUR16.2 million). SOLON SE recorded a net loss after
minority interests of EUR8.2 million in the first three months of 2010 (Q1 2009:
net loss of EUR19.2 million). There were no one-time effects in the period under
review. The net loss per share declined to EUR0.65 in the first quarter of 2010
(Q1 2009: net loss per share of EUR1.53). More than 40% of Group revenue in the
first quarter of the year was generated outside of Germany; the production
volume amounted to 41 MWp.

The pickup in demand in the components business is also reflected in incoming
orders, including a multiyear agreement signed in the first quarter with the
German solar wholesaler entrason gmbh with a scope of delivery of 20 MWp in
2010.

The higher production output planned for 2010 increased the carrying amount of
inventories to EUR110.9 million (December 31, 2009: EUR90.6 million). This
resulted in a negative operating cash flow of EUR31.0 million in the first three
months after a negative cash flow of EUR39.6 million in Q1 2009. The higher
inventories caused working capital to increase slightly to EUR175.6 million.

Net debt as of March 31, 2010 amounted to EUR384.9 million. In late March, an
agreement was reached with the banks concerning the restructuring of the Group's
medium-term financing. The full credit documentation is currently being
finalized.

Based on the current business performance, the Management Board reaffirms its
target of closing fiscal year 2010 with a double-digit percentage increase in
revenue and a break-even Group operating result.

The complete interim report of SOLON SE for the quarter ended March 31, 2010 is
available for download from the company's website (www.solon.com).

SOLON SE
Therese Raatz
Investor Relations
Phone: +49 / 30 / 818 79 - 9305
Fax: +49 / 30 / 818 79 - 9300
E-Mail: [email protected]

Further inquiry note:
Therese Raatz
Head of Corporate Communications
Tel.: +49 30 818 79-9305
E-Mail: [email protected]
end of announcement euro adhoc
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issuer:   SOLON SE
          Am Studio  16
          D-12489 Berlin
phone:    +49 30 818 79-9305
FAX:      +49 30 818 79-9300
mail:     [email protected]
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

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