EANS-Adhoc: SOLON SE / SOLON Presents Figures for the First Nine Months of 2011

--------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------

quarterly report

15.11.2011

SOLON Presents Figures for the First Nine Months of 2011

- Group revenues of EUR358.2 million for the first nine months of
2011 - Net income burdened by decline in prices and one-time effects
from operational and financial restructuring - EBIT loss of EUR113.8
million; Group net loss of EUR208.3 million - One-time effects result
in negative equity in the SOLON Group based on IFRS; based on HGB
accounting, equity of the parent company SOLON SE remains positive

Berlin, November 15, 2011. Berlin-based SOLON SE today presented its
figures for the period ended September 30, 2011. Performance in the
major solar markets continued to be very disparate in the third
quarter of 2011. The market in Italy picked up again robustly after
the new Italian feed-in tariff law (Conto Energia IV) was
implemented. By late August, numerous large power plant projects were
concluded for the purpose of still being able to benefit from the
previous, significantly higher compensation rates. The US solar
market, which continues to be dominated by the solar activities of
local electric utilities, also showed positive performance and is
expected to double once again this year. In contrast, the German
market continued to fall short of the expectations for the industry.
Demand did pick up in the third quarter; however, the anticipated
year-end rally has so far not materialized. In the presence of
overcapacity in the market, this resulted in a further significant
decline in module prices.

In this persistently difficult market environment, SOLON´s Group
revenue declined by 11% to EUR358.2 million in the first nine months
of 2011 (prior-year period: EUR402.9 million). Sales for the third
quarter of 2011 amounted to EUR136.4 million (Q3 2010: EUR160.56
million). Some 83% of Group revenues in the first nine months were
generated outside of Germany, and 61% come from the power plant
business. SOLON sold photovoltaic systems with a total operating
performance of 179 MW between January and September 2011 (prior-year
period: 194 MW). As of September 30, 2011, SOLON had a total of 798
employees at various locations in Europe and the USA.

In the third quarter of 2011, SOLON generated a positive cash flow
from operating activities of EUR21.4 million, primarily in response
to the lower working capital. The operating cash flow for the first
nine months improved to a net cash outflow of EUR5.7 million. For
2011, SOLON expects to achieve a positive cash flow from operating
activities.

The EBIT loss amounted to EUR113.8 million in the period under review
(prior-period: EBIT loss of EUR5.5 million). In addition to the
unsatisfactory business performance and the persisting price decline
in the market, the operating result was impacted by mostly non-cash
one-time effects of EUR103 million. These resulted for the most part
from impairment losses recognized for projects, inventories and
prepayments, but also from expenses in connection with the
implementation of the restructuring program, including the cessation
of production in the USA. Adjusted for these one-time effects, the
EBIT loss for the first nine months of 2011 amounted to EUR11
million.

The net loss for the period was EUR208.3 million (prior-year period:
net loss of EUR17.5 million) and includes additional non-cash
one-time effects of EUR80 million due to impairments in the
investment portfolio as well as expenses related to the financial
restructuring. Adjusted for all one-time effects, SOLON reported a
net loss after tax for the period under review of EUR25 million.

Compared to the prior quarter, the Company's net debt decreased
slightly by EUR6.4 million to EUR396.0 million (June 30, 2011: EUR
402.4 million). The sale of projects and the write-downs of
inventories reduced inventory levels to EUR96.0 million (June 30,
2011: EUR142.0 million). Receivables due as of September 30, 2011
decreased to EUR110.3 million (June 30, 2011: EUR131.3 million). As a
result, working capital declined by EUR54.3 to EUR130.0 million
compared to the previous quarter (June 30, 2011: EUR184.3 million),
reflecting a ratio of working capital to revenue of 23% for the last
12 months.

Due to the net loss for the period under review of EUR208.3 million,
SOLON's consolidated interim financial statements based on IFRS for
the period ended September 30, 2011 show negative shareholders'
equity of EUR103.1 million. This also reflects the negative income
contributions (in accordance with IFRS) of subsidiaries. In contrast,
the shareholders' equity of the parent SOLON SE as based on the
German Commercial Code (HGB) showed a positive figure of EUR31.1
million as of the reporting date.

In addition to the reduction of net debt, the planned financial
restructuring of the Company also provides for strengthening the
equity base. The SOLON Management Board plans to press ahead with the
successful implementation of this process in the fourth quarter of
2011 and conclude it by the end of April 2012.

The complete interim report of SOLON SE for the period ended
September 30, 2011, is available for download from the company´s
website (www.solon.com).

SOLON SE
Therese Raatz
Investor Relations
Telefon: 030 / 818 79 - 9305
Fax: 030 / 818 79 - 9300
E-Mail: investor@solon.com

Further inquiry note:
Therese Raatz
Head of Corporate Communications
Tel.: +49 30 818 79-9305
E-Mail: therese.raatz@solon.com

end of announcement euro adhoc
--------------------------------------------------------------------------------

issuer: SOLON SE
Am Studio 16
D-12489 Berlin
phone: +49 30 818 79-9305
FAX: +49 30 818 79-9300
mail: investor@solon.com
WWW: www.solon.com
sector: Energy
ISIN: DE0007471195
indexes: Midcap Market Index, CDAX, HDAX, Technology All Share, GEX, ÖkoDAX
stockmarkets: regulated dealing/prime standard: Frankfurt, regulated dealing:
Berlin, Hamburg, Stuttgart, Düsseldorf, München
language: English