Aleo Solar posts growth increase

aleo solar AG increased its revenue by 76.9% in the first half of 2008 to EUR 159.4 million (H1 2007: EUR 90.1 million). The proportion of international revenue amounted to 59.0%.

EBIT increased by 90.0% to EUR 11.4 million (H1 2007: EUR 6.0 million), lifting the EBIT margin by 0.4 percentage points to 7.1% (H1 2007: 6.7%). Earnings per share more than doubled to EUR 0.60 (H1 2007: EUR 0.27). Production output rose to 60.7 megawatts, an increase of 58.9%.

Business in Germany continued to develop positively, with revenue growing 10.3% to EUR 65.4 million (H1 2007: EUR 59.3 million). International growth in the first half was extremely dynamic: 59.0% of revenue was generated abroad in the first six months of 2008. However, the Management Board expects that business in Spain will cool off temporarily. At the same time, aleo's business in Italy, Greece, Belgium and France is growing, while initial solar modules are also being supplied to countries such as Bulgaria and the Czech Republic. aleo solar AG's Management Board is reiterating its forecast that international revenue will account for around 40% of the Company's total revenue for full-year 2008. In addition, the passing of the new Erneuerbare-Energien-Gesetz (EEG – German Renewable Energy Act) has led to clarity in Germany, and thus to planning security being achieved at an early stage as from 2009.

The Annual General Meeting of aleo solar AG was held on 24 June 2008 at the Park Hotel in Bremen, Germany. 99.2% of the votes represented opted to use the net retained profits to expand the Company's capacity in Prenzlau, Santa Maria de Palautordera (Spain) and Gaomi (China). "Our strategy is paying off.", said Jakobus Smit, CEO of aleo solar AG, "The shareholders in attendance approved the establishment of more production capacity for more modules in more countries."

Total production capacity of 180 megawatts will be available by the end of 2008 (end of 2007: 100 megawatts). The Company is reiterating its forecast for the year of revenue of at least EUR 330 million and a continued solid EBIT margin.

For additional information:

www.aleo-solar.de