January 7, 2010

Oldenburg, Germany: Aleo Solar AG increases Annual Revenue in 2009 to EUR 375 million

aleo solar AG today announced that according to preliminary calculations, the company generated revenue of EUR 375 million in 2009. After a slow first six months, business picked up considerably from July, leading to a EUR 15 million year-on-year increase in revenue.

Heiner Willers, member of the Management Board and COO of aleo solar AG, is very satisfied with this result: “Though 2009 was a challenging year for the photovoltaic industry, we performed extremely well,” he said. “The loss of the Spanish photovoltaic market and the negative effects of the financial crisis led to an unprecedented decline in prices in the solar industry. Nonetheless, we significantly increased the sales volume of aleo modules and generated revenue that was 4 percent higher than the year before – and we continue to grow.”

Jakobus Smit, CEO of aleo solar AG, commented, “The key to this achievement is aleo solar AG’s strategic orientation as a premium module manufacturer with a focus on specialist dealers and installers in Europe. We delivered around 148 megawatts’ worth of aleo modules this year, 45 percent more than the previous year.”

In Europe, the company’s customer base expanded to over 1.000 specialist partners. Foreign sales account for around 25 percent of aleo solar AG’s revenue. The positive trend continues for the aleo solar Group.

“We already have frame contracts in place for over 60 megawatts from German customers alone for 2010. The 9 percent reduction in the feed-in tariff in 2010 will not equate to a decline in demand because the entire photovoltaic industry understands that in a buyer’s market, investors' expectations regarding return on investment must be met,” summed up CFO Uwe Bögershausen.

The complete revenue and earnings figures for the 2009 financial year will be published on March 25, 2010.

Further details about: aleo solar AG