SOLPOWER AG
SOLPOWER AG reports provisional figures for the 2008 financial year
SOLPOWER AG / Preliminary Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- - Anniversary year closed with 45% sales growth to Euro 148 million - EBIT Euro 4.3 million and net income Euro 3.1 million - Foreign sales share increases to 16 percent Weingarten/Ravensburg, Germany, 3th April 2009 +++ SOLPOWER AG, a leading system integrator and project planner in the photovoltaic sector, posted a significant, 45% growth in sales to Euro 148 million (previous year Euro 102 million) in the last financial year 2008 according to provisional figures released. In 2008 the foreign sales share totalled around 16 percent, of which the Spanish subsidiary's sales of Euro 19 million accounted for the major part. Solar system sales under the SOLPOWER brand stood at around 38 MWp, clearly exceeding the sales volume of 2007 (around 23 MWp). The earnings before interest and tax (EBIT) at Euro 4.3 million (previous year: Euro 4.6 million) and the net income at 3.1 million (previous year: 3.0) was around the previous year's level. The EBIT margin decreased to 3.0 percent (previous year: 4.7 percent). In 2008 the high demand for modules led to delivery bottlenecks on the European market and as a result the high module prices impacted SOLPOWER's in the last financial year. Dividend The solar company's highest sales since it was established in 1988 are due to the successful sales operations of the subsidiaries at home and abroad. The CFO, Dr. Joachim von Bergwelt, has said that in view of the positive business development 'the proposal for payment of a dividend will be tabled at this year's Annual General Meeting.' As at 31 December 2008, SOLPOWER had 192 permanent employees worldwide (previous year: 125 employees). SOLPOWER brand introduction In the twentieth year since it was established, SOLPOWER AG successfully drove forward the expansion of business activities in Germany and Europe and created a good starting position for itself in growth markets outside Germany. 'We are most satisfied with the last financial year. The successful launch of the SOLPOWER brand was a significant milestone in our corporate planning,' said the CEO Emanuel Senz. Outlook for 2009 In the current financial year SOLPOWER is again focusing on the project planning, sale and installation of photovoltaic solar systems in the small to mid-range size (4 kWh to 100 kWh). SOLPOWER AG assumes that in the current financial year it will see a slight growth in sales and increasing profitability. In the view of many experts, the importance of end-customer business, on which SOLPOWER concentrates, will gain in momentum. About SOLPOWER AG SOLPOWER AG with headquarters in Weingarten/Ravensburg is a leading system integrator and project planner in the photovoltaic industry. The company, which has been involved in the solar plant market since 1988, is among the pioneers of the solar sector with its over 15,000 completed plants. Along with its operational subsidiaries, SOLPOWER AG develops, plans, builds and operates photovoltaic plants of all sizes. Under 'SOLPOWER', complete photovoltaic plants for the generation of electricity for private and commercial properties up to power plants are marketed domestically and internationally. SOLPOWER is a registered German trademark with Europe-wide protection under the roof of SOLPOWER AG. SOLPOWER AG Oliver Hornhardt Stettiner Str. 7 D-88250 Weingarten Tel.: +49 (0) 751 / 977 133 - 90 Fax: +49 (0) 751 / 977 133 - 5901 oliver.hornhardt@solpowerag.com www.solpowerag.com 03.04.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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