EANS-News: aleo solar AG / aleo solar AG announces positive earnings for the year´s first half and lowers revenue forecast because of massively falling prices

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quarterly report

Prenzlau/Oldenburg (euro adhoc) - aleo solar AG (ISIN: DE000A0JM634)
today announced that it generated revenue of EUR 232.0 million in the
first six months of 2011. This means that aleo solar's revenue
decreased by 16.2% compared with the first six months of 2010 (EUR
277.0 million). Earnings before interest and taxes (EBIT) came in at
EUR 3.4 million (EUR 29.3 million), and the EBIT margin was 1.5
percent (10.6 percent). Earnings per share amounted to EUR 0.13 (EUR
1.68); production volume rose to 161.6 megawatts (132.8 MW).
"Compared to the extraordinarily strong demand of the previous year,
demand in Germany was only moderate in the first half of 2011," says
York zu Putlitz, CEO and CFO of aleo solar AG. "Additional installed
PV capacity plummeted by over 50% in the months of March and April,
for example, and an even steeper decline is anticipated for June." In
the first quarter, cell manufacturers´ rigid pricing policies also
prevented module prices from falling in tandem with feed-in tariffs
at the beginning of the year.

"As in the first three months of the year, we largely compensated for
the quiet business in Germany in the second quarter with growth on
the international photovoltaic markets, which shows the success of
our internationalisation strategy," zu Putlitz adds. aleo solar AG
generated 49.9% of total revenue outside Germany in the first half of
2011, compared with just 17.8% in the first half of 2010. This lifted
the company´s international revenue from EUR 49.4 million in the
first half of 2010 to EUR 115.7 million in the first six months of
2011.

The surplus capacity of solar cells and modules worldwide is
currently putting huge pressure on prices. The increased returns that
can be generated by operators of PV installations as a result of this
are expected to boost demand in the further course of the year and
stabilise prices. While unit sales of aleo modules are developing
largely as planned, revenue is falling faster than expected. For this
reason, aleo solar AG has revised its revenue forecast for 2011
downwards: instead of annual revenue of EUR 560 million, the company
is now forecasting annual revenue of EUR 515 million.

Further inquiry note:
York zu Putlitz
CEO/CFO
Tel.: +49 (0)441-21988-770
E-Mail: Invest@aleo-solar.de

end of announcement euro adhoc
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company: aleo solar AG
Gewerbegebiet Nord, Marius-Eriksen-Straße 1
D-17291 Prenzlau
phone: +49(0)441 21988-0
FAX: +49 (0)441 21988-69
mail: invest@aleo-solar.de
WWW: http://www.aleo-solar.de
sector: Alternative energy
ISIN: DE000A0JM634
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English