EANS-Adhoc: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten / Solar-Fabrik AG (ISIN: DE0006614712) discloses preliminary 2008 results: sales all time high,

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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12.03.2009

The Management Board of Solar-Fabrik AG (ISIN: DE0006614712) has
disclosed the preliminary (unaudited) consolidated group results of
Solar-Fabrik AG as of December 31, 2008. Solar-Fabrik was able to
increase total revenues in 2008 by some 61.8% to 217.279 million
euros (previous year 134.454 million euros). Earnings before interest
and tax (EBIT) amounted to -35.344 million euros (previous year
-7.378 million euros). Despite the EBIT Solar-Fabrik continues to
appreciate a high equity ratio of 56% (previous year 73%). The
preliminary (unaudited) group results have been negatively impacted
by a couple of special effects. Both Management and Supervisory Board
have, after considering these effects together with the currently
ongoing market changes towards a buyers market, decided to initiate a
comprehensive set of actions to make sure Solar- Fabrik will deliver
a short term turnaround.

Solar-Fabrik AG achieved sales of approximately 178.243 million euros
(previous year 94.479 million euros) in the division Solar Power
Systems. Adjusted for net currency conversion losses the segment
posted an EBIT of -0.121 million euros (previous year -3.164 million
euros). Hence, the core business marks a clear turnaround.

The business segment Wafer Preparation generated an EBIT of 0.578
million euros (previous year 0.672 million euros) and will be
supported to continue the growth.

The subsidiary Global Expertise Wafer Division Ltd. (GEWD) of the
Wafer division reported an allowance for doubtful accounts of 6.696
million euros. In addition, the dramatically changed market
conditions for silicon led to a devaluation of inventory of 8.864
million euros as well as to the need to account for a provision for
onerous contracts of 3.492 million euros. Given the dramatic price
erosion for silicon and silicon products the Management Board of
Solar-Fabrik AG has no clear visibility on profitable short and
mid-term business opportunities of the Wafer division, leading to a
goodwill write-off of 14.009 million euros. It is even being
considered between the Management Board and the Supervisory Board to
file bankruptcy for GEWD.

The business opportunities of Solar Energy Power Pte. Ltd. (SEP), the
solar cell manufacturing arm of Solar-Fabrik, are also expected to be
negatively influenced by the market changes in the mid-term, leading
to a goodwill write- off of 3.000 million euros at the Solar Cells
division.

All these results are contingent upon approval of the Supervisory
Board as well as the group auditors. Final results will be publicized
as of April 30, 2009.

Both the Management and the Supervisory Board of Solar-Fabrik AG have
concluded on a revised business strategy, driven by the ongoing
market changes. Solar- Fabrik continues to focus on its core
competence as a top quality manufacturer of Solar Power Systems,
streamlines its corporate structure and performs one- off adjustments
regarding potential balance sheet risks, as such enabling improved
results in the near future. The new management has an increased focus
on comprehensive cost management in the areas of production,
supply-chain as well as overhead expenses.

Solar-Fabrik AG enters 2009 with a solid order backlog of more than
80 MWp. Virtually the entire annual capacity of Solar Power Systems
was sold under binding contracts at the beginning of the year,
leading the Management Board of Solar-Fabrik AG to expect a very
positive 2009 group sales forecast of at least 220 million euros for
2008, of which 40% will be realized abroad. Despite the global
financial and economical crisis the Management Board feels
comfortable to forecast a solid EBIT-margin of about 3% in 2009.

end of announcement euro adhoc
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ots Originaltext: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Martin Schlenk

Tel.: +49 (0)761/ 4000-207

E-Mail: m.schlenk@solar-fabrik.de

Branche: Alternative energy
ISIN: DE0006614712
WKN: 661471
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade