EANS-Adhoc: SOLON SE / SOLON SE reports a further increase in sales in the third quarter with a robust pickup in the power plant business

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
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9-month report

12.11.2010

SOLON SE reports a further increase in sales in the third quarter
with a robust pickup in the power plant business

- Revenues rise 85% to EUR404.6 million - Revenue distribution
shifted in favor of the power plant business - More than 50% of sales
generated outside of Germany - EBIT loss of EUR5.3 million weighed by
special factor from the project business - Net loss after minority
interests at EUR17.4 million

Berlin, November 12, 2010 - Berlin-based SOLON SE (ISIN
DE0007471195), today published its interim report for the period
ended September 30, 2010. The sustained high demand in Germany
lasting into the third quarter and the noticeable pickup in other
European markets and the U.S. enabled SOLON to increase the Group's
revenue to above EUR400 million in the first nine months of the year.
Already by late September, the Company had significantly surpassed
its total revenue for all of 2009. In the third quarter, SOLON's
business with solar modules again benefited from pull-forward effects
associated with the enacted reduction of the feed-in tariffs in
Germany. At the same time, there was a noticeable pickup of
activities in the power plant business, especially in Italy. On the
one hand, this led to a shift in revenue distribution in favor of the
system technology business, which accounted for 29% of revenues in
the nine month period. On the other hand, the share of revenue
generated outside of Germany climbed to more than 50% and production
output reached 194 MWp.

The most important performance indicators of the first nine months of
2010 are broken down as follows: Group revenue rose by 85% to
EUR404.6 million from EUR218.4 million a year earlier. EBITDA
improved year on year to EUR8.3 million (prior-year period: EBITDA
loss of EUR72.2 million). The EBIT loss was reduced to EUR5.3 million
(prior-year: EBIT loss of EUR87.0 million) and was primarily due to a
one-off warranty expense from a pre-existing project in Italy in the
amount of EUR4.5 million incurred in the third quarter. The Company
considers the warranty claim unfounded and is taking legal action
against it. Except for this special factor, SOLON would have closed
the third quarter with a positive operating result. SOLON recorded a
net loss after minority interests of EUR17.4 million in the first
nine months of 2010 (prior-year period: net loss of EUR146.7
million). Earnings per share thus improved to a net loss per share of
EUR1.20 in the period under review (prior-year period: net loss of
EUR11.71 million).

Inventories increased to EUR130.0 million as of September 30, 2010
(December 31, 2009: EUR90.6 million). The main cause for this was the
sharp increase in lead production output for the power plant projects
currently under construction and scheduled for completion by
year-end. Due to the increase in inventories and of trade receivables
as well as a negative operating result, the cash flow from operating
activities in the first nine months of 2010 amounted to EUR-17.5
million (prior-year period: EUR30.1 million). In the third quarter,
SOLON generated a slightly positive operating cash flow in the amount
of EUR0.7 million. Working capital was EUR174.1 million as of
September 30, 2010. The ratio of working capital to revenue declined
to 32% in the last twelve months. Net debt as of the reporting date
was nearly unchanged at EUR368.5 million.

Based on the positive business performance thus far in the year and
sustained robust activity in the project business, SOLON management
has confirmed its revenue and earnings forecast for the year as a
whole: The goal is to achieve Group revenue significantly above
EUR500 million and a balanced operating result.

The complete interim report of SOLON SE for the quarter ended
September 30, 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: 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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