euro adhoc: ErSol Solar Energy AG / Financial Figures/Balance Sheet / ErSol continues its growth course in 2006 with a significant earnings increase

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21.02.2007

ErSol continues its growth course in 2006 with a significant earnings
increase

ErSol Solar Energy AG (ErSol), Erfurt has once again closed off the
previous financial year with record results. Based on preliminary
calculations, consolidated sales grew in 2006 by 98% to EUR 127.8
million (2005: EUR 64.4 million) following the Group’s capacity
expansion, deliveries already accrued, thanks to the long-term raw
materials agreements concluded in 2005, and the integration of the
silicon-recycling subsidiary SRS in financial year 2006. Earnings
have also shown disproportionate growth despite start-up costs for
new business segments: earnings before interest and taxes (EBIT) were
more than doubled to EUR 20.3 million (2005: EUR 9.5 million) and the
EBIT margin grew to 15.9% (2005: 14.7%). ErSol has also recorded a
sharp growth in earnings before taxes (EBT): EBT increased to EUR
19.7 million (2005: EUR 9.5 million).

All the signs again point to significant growth levels at ErSol for
the current year. The ErSol Group anticipates sales of between EUR
148 and EUR 155 million in financial year 2007. Thanks to the
continued expansion of capacities in the Wafers and Solar Cells
segments, which cannot be used until the end of the year, the ErSol
Group's sales are expected to grow by about 20%. The Company may
already see the first contribution to sales arising from the Group’s
new thin-film activities. Earnings before taxes (EBT) and EBIT are
expected to at least match figures of the previous year. The Group
currently estimates that a stronger growth in earnings will be
curtailed by the continued scarcity of materials on the procurement
market, which remains tough, and by the substantial start-up costs
for investments in the Group's expansion.

This year the ErSol Group will triple its capacity in the crystalline
area from 60 to 180 MWp and will develope 40 MWp in thin-film
technology. With an output of approx. 140 MWp in the crystalline area
and about 24 MWp in thin-film, ErSol anticipates sales growth of
around 100% in 2008. The required silicon volumes and financing have
been secured for this. On the sales side, almost 100% of these
volumes have already been sold. Compared to levels in 2006 and 2007,
the Company aims to at least triple its operating profit.

end of announcement euro adhoc 21.02.2007 07:08:13
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ots Originaltext: ErSol Solar Energy AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Sonja Teurezbacher
Investor Relations Manager
+49 (0)361 219 5130
sonja.teurezbacher@ersol.de

Branche: Alternative energy
ISIN: DE0006627532
WKN: 662753
Index: CDAX, TecDAX, HDAX, Midcap Market Index, Prime All Share,
Technologie All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade


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