EANS-Adhoc: SOLON SE / SOLON publishes figures for fiscal year 2010 - revenues increase by 76% with break-even EBIT

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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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annual report

31.03.2011

SOLON publishes figures for fiscal year 2010 - revenues increase by
76% with break-even EBIT

- Revenues up 76% to EUR619.9 million
- Break-even EBIT of EUR0.4 million
- Consolidated net loss reduced to EUR19.8 million
- Working capital ratio decreased to 28%

Berlin, March 31, 2011 - SOLON SE, Berlin, Germany, today presented its 2010
annual report.

Fiscal year 2010 was characterized by robust development in the
Company's core markets. The reduction in solar subsidies during the
year and related pull-forward effects led not only to unexpectedly
strong demand for small solar installations in Germany, but global
activities in power plant construction picked up significantly, in
particular in Italy and the U.S. SOLON benefited from both trends.
The business in photovoltaic installations had the greatest impact on
the Company's business activities in the first half of 2010, while
activities in the area of turnkey power plants dominated in the
second six months. The contribution of the power plant business to
total revenues therefore increased to 39% compared to the previous
year's weak performance of 28%. The share of revenues generated
outside of Germany rose to 65% (previous year: 48%).

The SOLON Group increased revenues in fiscal year 2010 by 76% to
EUR619.9 million (previous year: EUR353.2 million) and closed the
year as planned with a break-even EBIT of EUR0.4 million (previous
year: loss of EUR199.2 million). The consolidated net loss also
improved significantly compared to the year before to EUR19.8 million
(previous year: EUR271.6 million). However, increased financing and
restructuring expenses and special factors related to the write-off
of the equity interest in the U.S. solar cells manufacturer
SpectraWatt Inc. and a drawing on a guaranteed credit in the Italian
project business totaling approximately EUR11 million represented a
burden. Earnings per share improved to EUR-1.31 (previous year:
EUR-21.68).

Net debt at year-end 2010 came to EUR369.1 million (December 31,
2009: EUR343.9 million). With significantly higher sales activity,
working capital increased slightly year-on-year to EUR172.5 million
(December 31, 2009: EUR154.9 million). The working capital ratio in
relation to the revenues of the last 12 months thus improved to 28%
(December 31, 2009: 44%). Photovoltaic installations with total
output of 278 MW were sold in fiscal year 2010, representing a
year-on-year increase of 100% (previous year: 139 MW). At year-end
2010, the total number of employees at SOLON's locations within and
outside of Germany was 912 (December 31, 2009: 864)

SOLON's Management Board aims to systematically continue the
turnaround process started in fiscal year 2010. In order to achieve
this aim, the expansion of operating activities will be continued and
the Company's net debt will be gradually reduced. For the current
fiscal year, the SOLON Management Board will endeavor to increase
consolidated revenues by double digits once again and generate a
positive operating result as well as break-even net income.

The complete 2010 annual report of SOLON SE is available for download
from the Company's website at 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
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