EANS-Adhoc: SOLON SE / SOLON SE presents preliminary figures for fiscal 2009 - net income impacted by extraordinary expenses

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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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23.02.2010

- Group sales at EUR354 million
- Earnings before interest and taxes (EBIT) at EUR-195 million
- Net income after extraordinary losses at EUR-276 million
- Positive operating cash flow of EUR90 million
- Slight decrease in net debt

Berlin, February 23, 2010 - SOLON SE, Berlin, Germany (ISIN
DE0007471195) today presented its preliminary figures for fiscal year
2009.

The past fiscal year was determined by stagnation in global demand
for solar technology, which was allocated with extreme fluctuations
over the year. While the first three quarters remained significantly
behind the previous year, the fourth quarter experienced a surge in
year-end business. The increase was driven primarily by strong demand
in the German market, which was limited almost entirely to the end
customer market. By contrast, the solar power plant business - which
in 2007 and 2008 had made a significant contribution to the strong
growth of the solar industry - drastically declined in fiscal 2009 as
a consequence of the global financial crisis, which brought financing
for major solar projects to a near standstill.

The market trend described above was also reflected in the
performance of the SOLON Group and its individual segments in fiscal
year 2009. The Components segment - manufacture of standard solar
modules and sale to wholesalers and solar installers - performed
solidly, reaching the unit sales level of the previous year. The
System Technology segment, however - manufacture of solar power plant
systems and planning and construction of turnkey, large-scale power
plants all over the world - fell behind expectations. Although a
number of major contracts were acquired in the second half, these
will not affect revenue or earnings until 2010 due to the necessary
lead time.

According to preliminary calculations, Group sales reached EUR354
million, a drop of 57% compared to the extremely strong prior year
(2008: EUR815 million). Earnings before interest and tax (EBIT)
dropped to a loss of EUR195 million (2008: positive EBIT of EUR58
million). The net loss after minority interests amounted to EUR276
million (2008: net income of EUR33 million). Earnings per share fell
to a loss of EUR22.00 (2008: positive EPS of EUR2.61). EBIT and net
income were massively impacted by extraordinary expenses,
particularly impairment losses on financial assets and assets of
subsidiaries amounting to EUR122 million as well as devaluation on
inventory of EUR60 million due to a 30-percent decline in unit sales
prices in fiscal 2009.

A net cash inflow of approximately EUR90 million was generated in
fiscal year 2009. Net debt was reduced slightly to EUR345 million as
of the reporting date (2008: EUR379 million). The negotiations with
lenders on restructuring medium-term Group financing are still
underway, but are expected to be completed by the end of the first
quarter of 2010.

The restructuring program initiated in fiscal 2009, which includes
strategic measures along with projects to improve the Company´s cost
structure, has already shown initial successes, as can be seen in the
improved liquidity situation, for instance.

The extreme differences in performance of the two operating segments
Components and System Technology resulted in a corresponding shift in
their share of total sales. In 2009, the Components segment accounted
for 73% of Group sales (2008: 45%), while the System Technology
segment fell back to 27% (2008: 55%). Some 52% of Group sales were
generated in Germany in 2009. All in all, photovoltaic installations
with a total output of 132 MW were manufactured in fiscal 2009, a
decline of 25 percent on the prior year (2008: 176 MW).

The SOLON Group maintains five production sites in Germany, Austria,
Italy, Switzerland, and the United States. The number of employees at
all Group locations amounted to 899 at year end.

For the current fiscal year, the Management Board expects global
demand for solar technology to pick up considerably, with the
decrease in sales prices slowing compared to 2009. The goal is to
return to sales growth in the double-digit percentage range and to
break even in terms of operating earnings.

The complete 2009 Annual Report of SOLON SE will be published on 31
March 2010 and will be available for download from the Company´s
website at www.solon.com.

SOLON SE
Therese Raatz
Investor Relations
Telefon: +49 / 30 / 818 79 - 9305
Telefax: +49 / 30 / 818 79 - 9300
E-Mail: therese.raatz@solon.com

end of announcement euro adhoc
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ots Originaltext: SOLON SE
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Therese Raatz

Head of Corporate Communications

Tel.: +49 30 818 79-9305

E-Mail: therese.raatz@solon.com

Branche: Energy
ISIN: DE0007471195
WKN: 747119
Index: Midcap Market Index, CDAX, HDAX, Technology All Share, GEX,
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