EANS-Adhoc: SOLON SE / SOLON SE Generates Operating Profit in Second Quarter 2010

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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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6-month report

18.08.2010

- Revenue rises 104% to EUR243.6 million in H1 2010
- EBIT loss reduced to EUR2.3 million in H1 2010
- Positive EBIT of EUR4.3 million in Q2 2010
- Net loss after minority interest at EUR9.5 million in H1 2010

Berlin, August 18, 2010 - Berlin-based SOLON SE (ISIN DE0007471195)
today published its interim report for the six months ended June 30,
2010, according to which Group revenue once again nearly doubled year
on year. This favorable financial development is first and foremost a
consequence of brisk business in Germany. The decision to adopt the
mid-year reduction of the feed-in compensation for solar power
sparked high demand among German customers, and this, in turn, had a
very positive effect on the components business of SOLON, which as
previously generated the largest portion of Group revenue (82%).
Conversely, due to the wait-and-see attitude of several banks in
financing customer projects, the system technology business was still
unsatisfactory in the second quarter. After the successful conclusion
of its refinancing negotiations at the beginning of June, however,
the Company observed a noticeable recovery in this area. The
improvement was evidenced by a number of new orders, particularly in
Italy and the USA, that will lead to revenue in the coming quarters.

The key financial indicators of the first half of 2010 are broken
down as follows: Group revenue rose 104% to EUR243.6 million (H1
2009: EUR119.4 million). Compared to the first half of 2009, EBIT and
EBITDA also improved significantly to an EBIT loss of EUR2.3 million
and positive EBITDA of EUR6.7 million (H1 2009: EBIT loss of EUR52.6
million and EBITDA loss of EUR42.7 million). SOLON SE recorded a net
loss after minority interests of EUR9.5 million in the first six
months of 2010 (H1 2009: net loss of EUR110.1 million). No one-time
effects on net income occurred in the period under review.
Accordingly, the loss per share declined to EUR0.73 (H1 2009: loss
per share of EUR8.79). Some 36% of Group revenue was generated
outside of Germany in the first half of 2010. Production volume
reached 117 MWp.

Due to high demand anticipated for the third quarter, the carrying
amount of inventories increased to EUR123.3 million (December 31,
2009: EUR90.6 million). This resulted in a negative operating cash
flow of EUR18.2 million in the first six months (H1 2009: negative
operating cash flow of EUR10.3 million). Working capital was EUR172
million and hence slightly lower than on March 31, 2010. The ratio of
working capital to revenue generated in the past twelve months
declined to 36%. Net debt as of the reporting date amounted to EUR367
million.

In consideration of the favorable business trend in the first half of
the year and the strong outlook for sales in the third and fourth
quarters, the Company´s management projects that Group revenue for
the year 2010 will be significantly higher than EUR500 million with a
breakeven operating result. The complete interim report of SOLON AG
for the six months ended June 30, 2010, is available for download
from the Company´s website (www.solon.com).

SOLON SE
Therese Raatz
Investor Relations
Phone: 030 / 818 79 - 9305
Fax: 030 / 818 79 - 9300
E-mail investor@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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Börsen: Frankfurt / regulated dealing/prime standard
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