EANS-Adhoc: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten / Another quarter of year-on-year volume and revenue growth, price erosion impacts results.

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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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3-month report

02.05.2011

Solar-Fabrik AG (ISIN: DE0006614712) yet again managed to increase
volume and revenue in the first quarter 2011. While volume increased
by ca. 27% year-on-year, revenue grew by ca. 10% reaching 37.075
million euros (Q1 2010: 33.565 million euros). The price erosion
shown in these numbers drove the EBIT to a small loss of 442,000
euros. With financial cost slightly higher than usual the company
reports a quarterly loss of 900,000 euros, representing -0.07
euros per share.

The political discussion on feed-in-tariffs and the cost of renewable
energy has been dominating the public since the beginning of the
year. While the nuclear disaster in Japan has reversed the
discussions it has not yet affected actual changes in the market
due to the missing link of reliable legislation, e.g. the
operating extension of nuclear power stations in Germany as
well as the restructuring of the EEG towards 2012, but also the
pending modifications to the Italian Energy Bill.

The resulting price erosion since the start of the year could
not been completely compensated during the first quarter by sourcing
and productivity gains but squeezed the operating margin by ca.
10 percentage points. Therefore the solar systems business in
Q1-2011 yielded an EBIT of just -377,000 euros at a revenue
level of 36.864 million euros. As a major achievement the
export share of the business was pushed to more than 70%. In order to
accommodate for shorter term price adjustments the company has
started to reduce work hours in some of its German based production
lines.

Also due to the price erosion the revenue of the solar cell
business slightly decreased to 1.308 million euros in Q1 2011 (Q1
2010: 1.455 million euros), despite a concurrent volume growth of
17%. Squeezed in the middle of a very competitive value chain the
corresponding EBIT was reduced to -67,000 euros (Q1 2010: 59,000
euros).

Despite the challenging Q1 environment the Solar-Fabrik executive
team still considers the 2011 targets described in the annual
report 2010 as being realistic.

The quarterly report for the Q1 period from Jan. 1st through Mar
31st, 2011, will be available on May 12 at the company´s website.

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:

Investor Relations
Tel.: +49 (0)761-4000 0
E-Mail: investor@solar-fabrik.de

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