EANS-News: aleo solar AG / aleo solar AG records a drop in revenue and negative earnings in financial year 2011

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Annual Reports

Prenzlau/Oldenburg (euro adhoc) - aleo solar AG today published its
2011 annual report, which confirms the preliminary figures announced
earlier. Revenue decreased by 16.6% to EUR 461.8 million (2010: EUR
553.5 million). The 2011 financial year closed with earnings before
interest and taxes (EBIT) of EUR -30.5 million (2010: EUR 43.0
million). The EBIT margin dropped to -6.6 percent (2010: 7.8 percent)
and earnings per share fell to EUR -2.47 (2010: EUR 2.41).

"The 2011 financial year saw an unprecedented level of price erosion
in the photovoltaic industry," said York zu Putlitz, CEO and CFO of
aleo solar AG. "Triggered by a global oversupply, prices for cells
and modules fell massively. We, too, were forced to reduce our
selling prices by over a third in the course of the year. This put
considerable pressure on our revenue and margins and prevented us
from achieving the targets we had originally set for ourselves."
Earnings were also depressed by an extraordinary settlement of cell
supply contracts from earlier years.

In 2011 aleo solar AG again increased its module output in terms of
production and sales volume. Production surged to 303 megawatts (MW)
from 267 MW in the previous year, while the sales volume also rose to
297 MW (2010: 255 MW). aleo solar AG generated almost half of its
revenue (EUR 223.3 million) in international markets. It added the
United Kingdom, an important new market, to its footprint, which
already included Italy, France, Greece and Belgium, countries in
which aleo solar has been successful for many years. Outside Europe,
sales were particularly strong in the United States, Australia,
Mexico and Israel.

In 2012 aleo solar AG plans to increase sales again by fully
utilising its production capacity. Nevertheless, given the intense
competition on the photovoltaic market, earnings are expected to
remain negative in 2012. aleo solar´s revenue target for 2012 is at
least EUR 440 million.

Further inquiry note:
Hermann Iding
Corporate Communications
Tel.: +49 (0)441-21988-390
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: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English