EANS-News: Sunways AG reaches sales target and outperforms projected results

- Preliminary sales of € 222.7 million (+ 25.5 percent) in fiscal
year 2010
- Operating result (EBIT) likely to be higher than
expected

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annual result/Earnings Forecast

Subtitle: - Preliminary sales of € 222.7 million (+ 25.5 percent) in
fiscal year 2010 - Operating result (EBIT) likely to be higher than
expected

Konstanz (euro adhoc) - 17 February 2011 - Based on preliminary
figures, Sunways AG (SWW:GR, SWWG.DE, ISIN DE0007332207) generated
sales of EUR 222.7 million in the fiscal year 2010 (2009: EUR 177.5
million). This corresponds to a 25.5 percent increase. About 30
percent of sales were realised abroad (2009: 9 percent). Sales in the
fourth quarter amounted to EUR 55.5 million (Q4 2009: EUR 54.8
million), the operating result (EBIT) for the quarter will be higher
than expected. Therefore, the operating result for the entire fiscal
year is anticipated to reach about EUR 15 million. The gratifying
demand for the new Ecoline solar modules launched as of 1 December
2010 contributed to these results. At a total of 16.6 megawatts peak,
module sales volumes in the fourth quarter 2010 reached a new high.
After the first nine months, Sunways had expected annual sales of EUR
215 to 225 million and an EBIT margin of about 6 percent.

"The development of consolidated earnings underlines the success of
our market-related as well as strategic efforts in the past year",
commented Michael Wilhelm, Chairman of the Management Board of
Sunways AG, on the preliminary figures. "I am glad to see that our
decision to cooperate with LDK Solar as an additional partner in
solar module production is already paying off. This year, we will
again consistently continue our successfully initiated
internationalization efforts."

Last year, Sunways AG certified the leading Chinese company LDK Solar
for the production of the Ecoline modules. The modules are
manufactured with Sunways solar cells and in accordance with Sunways
quality criteria. The compliance with such criteria is controlled
onsite on an ongoing basis. Thus Sunways on the one hand benefits
from the cost advantages of this cooperation while at the same time
consistently pursuing the company´s quality-oriented policy.

As of 31 December 2009, Sunways AG sold its wholly-owned wholesale
subsidiary MHH Solartechnik GmbH, Tübingen, to BayWa Green Energy
GmbH, München. The relevant agreement provides for a potential second
performance-related purchase price payment upon completion of the
fiscal year 2010 (earn-out). Due to the timing of the preparation of
the financial statements, the annual accounts of MHH Solartechnik
required for the determination of the earn-out are not expected to be
available before the second quarter 2011. Therefore, any potential
earnings contribution from discontinued operations of Sunways AG
will only be recognized through profit or loss in the fiscal year
2011.

All figures in this press release are preliminary and unaudited. The
financial statements of Sunways AG containing the final results of
operations for the fiscal year 2010 will be published on 31 March
2011.

Financial calendar 2011
31/03/2011 - Report for the fiscal year 2010 (FY 2010)
12/05/2011 - Interim Report as of 31 March 2011 (Q1)
16/06/2011 - Annual General Meeting
11/08/2011 - Interim Report as of 30 June 2011 (Q2)
14/11/2011 - Interim Report as of 30 September 2011 (Q3)

This press release as well as pictures are also available on
www.sunways.eu/en or http://www.presseportal.de/suche.htx?q=sunways.

Forward-looking statements This press release contains statements
relating to the future business development of Sunways AG that are
based on management assumptions and estimates made at the time of
publication. Should the assumptions underlying the prognoses fail to
be fulfilled, actual events may vary substantially from
forward-looking statements. Uncertainties include changes in the
political, legal, economic and business environment, exchange and
interest rate fluctuations as well as the behaviour of competitors
and other market participants. Sunways does not intend and is not
under any obligation to update forward-looking statements on an
ongoing basis as these are exclusively based on the circumstances
prevailing as of the date of publication.

About Sunways Sunways AG, Konstanz/Germany, stands for consistent use
of solar energy to secure long-term energy supply of man in an
efficient and sustainable manner. Sunways offers technological
competence, performance and highest quality - from single components
to complete solar systems. Since its foundation in 1993, Sunways AG
evolved into a technology leader in the photovoltaics industry
serving international markets. With silicon-based solar cells,
inverters, solar modules and solar systems, the company offers all
components required for high-yield photovoltaic power generation.
With photovoltaic solutions tailored to customers´ needs (transparent
and coloured solar cells, building- integrated photovoltaic
installations), Sunways turns exceptional ideas into reality. Sunways
Production GmbH in Arnstadt/Germany is a subsidiary of Sunways AG; in
addition, the group has own branch offices in Barcelone/Spain and
Bologna/Italy. In 2009, Sunways AG with about 320 employees realised
sales of about EUR 180 million.The shares of Sunways AG are listed at
the Frankfurt Stock Exchange (SWW, ISIN DE0007332207). For further
information, please visit www.sunways.eu/en.

end of announcement euro adhoc
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ots Originaltext: Sunways AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Dr. Harald F. Schaefer
Head Corporate Communications & Investor Relations
Tel.: +49 (0)7531 996 77-415
E-Mail: communications@sunways.de

Branche: Alternative energy
ISIN: DE0007332207
WKN: 733220
Index: CDAX, Prime All Share, Technology All Share
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