SOLON AG reports preliminary figures for the first half of 2007 and expands production capacity

SOLON AG für Solartechnik, Berlin (ISIN DE0007471195) presents its preliminary financial results for the first half of 2007. Group revenues increased 36% to EUR 193 million (H1 2006: EUR 141.8 million). EBITDA rose 61% to EUR 19 million (H1 2006: EUR 11.8 million) while earnings before interest and taxes (EBIT) advanced 60% to EUR 15 million (H1 2006: EUR 9.4 million). After adjustment for the special effects in the first quarter of 2007, net income rose to EUR 8.7 million (H1: 2006: EUR 5.5 million), reflecting a 58% improvement. This corresponds to earnings per share of EUR 0.90 (H1 2006: EUR 0.61). For 2007 as a whole, the Company expects that it will clearly exceed its projected growth of 30%. The final figures for the first six months of 2007 and the full report of SOLON AG as of June 30, 2007 will be published on August 22, 2007. Due to the continued positive business trend, the SOLON Group will expand its production capacity from the current 130 megawatts to 210 megawatts by year-end 2007. 50 megawatts of capacity will then be available at the new production site in Berlin-Adlershof. The production capacity in Greifswald will be expanded to 70 megawatts while the sites in Austria and Italy will be increased to 30 and 20 megawatts, respectively. A capacity of 40 megawatts is being built up at the new subsidiary in Tucson, AZ, USA. The total investment comes to approximately EUR 20 million and has already been included in the current corporate planning.