Phoenix Solar AG: strong second quarter
- Sales nearly double the previous year

Sulzemoos - Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic systems integrator, closed the second quarter with a large increase in sales and EBIT. On the basis of the high order intake, especially from abroad, the Board of Directors has raised its guidance for sales generated abroad from EUR 40 to EUR 60 million for the year as a whole.

From 1 April until 30 June, the Phoenix Solar Group achieved sales of EUR 43.78 million in Germany and abroad, which is more than double the previous year’s figure of EUR 21.44 million. Sales are split between the Components & Systems and Power Plants segments which posted EUR 25.37 million (Q2/2006: EUR 12.45 million) and EUR 18.41 million (Q2/2006: EUR 8.93 million) respectively. Earnings before interest and taxes (EBIT) came to EUR 0.94 million in the second quarter and is thus almost six times the year-earlier figure (Q2/2006: EUR 0.16 million). The EBIT margin, which is the ratio of EBIT to sales, posted 2.15 percent in the second quarter (Q2/2006: EUR 0.75 percent).

In the first half-year, total sales of the Group rose by 60 percent to EUR 58.81 million as against the previous year’s figure (H1/2006: EUR 36.73 million), of which around 23 percent, which corresponds to EUR 13.44 million, were accounted for by international sales. As against the previous year’s period, international operations grew by 354 percent (H1/2006: EUR 2.96 million). In the first six months, the Components & Systems segment generated sales of EUR 36.76 million (H1/2006: EUR 27.38 million), and the Power Plants segment EUR 22.05 million (H1/2006: EUR 9.26 million). EBIT stood at minus EUR 0.56 million in the first six months (H1/2006: EUR 0.28 million). The EBIT margin posted minus 0.95 percent in the first half year (H1/2006: EUR 0.76 percent).

In terms of orders in hand, the Group recorded the highest level in the history of the company. As compared with EUR 40.9 million on 30 June 2006 the order book on 30 June 2007 stood at EUR 110.8 million. Of this amount, EUR 45.4 million was generated by the Components & Systems segment and EUR 65.4 million by the Power Plants segment. Orders on hand from international business posted EUR 56.2 million.

As from 14 August 2007, the Half-yearly Report can be downloaded from the company web site at http://www.phoenixsolar.com under the heading Investor Relations, Financial Reports.


This is an English translation of the German original. Only the German version is binding.


About Phoenix Solar AG

Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a leading international photovoltaic systems integrator. Until June 2007, the company, which was set up in 1999, went by the name of Phönix SonnenStrom AG. In the financial year 2006, the Phoenix Solar Group achieved sales of EUR 119 million in Germany and abroad. Phoenix Solar AG plans, builds and operates large photovoltaic plants and is a specialist wholesaler for complete power plants, solar modules and accessories. The Group is a leader in photovoltaic systems technology. It focuses on the consistent lowering of system costs. With a sales network which covers the whole of Germany, and subsidiaries in Spain and Singapore, as well as a participation in Italy, the Group currently has a workforce of more than 130 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange.


Disclaimer

The content of this press release is solely for information purposes and is not intended to constitute a recommendation for investment or a solicitation to subscribe or an offer to buy or sell securities of the company. Phoenix Solar AG shall undertake no liability whatsoever for any loss in connection with this press release or the information made available. This also applies particularly to any eventual loss in connection with the shares of Phoenix Solar AG.

This document contains forward-looking statements on future developments which are based on management’s current assessment. Words such as “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “can/could”, “plan”, “project”, “forecast”, “should”, and similar terms are indicative of such forward-looking statements. Such statements are subject to certain risks and uncertainties which are mainly outside the sphere of influence of Phoenix Solar AG, but which have an impact on the business activities, the success, the business strategy and the results. These risks and factors of uncertainty include, for instance, climatic change, changes in the state subsidisation of photovoltaics, the introduction of competitor products or technologies of other companies, the development of the planned internationalisation of business activities, fierce competition as well as rapid technological change in the photovoltaic market. If one of these or other factors of uncertainty or risks should occur, or if the assumptions underlying the statements should prove incorrect, the actual results may diverge substantially from the results in these statements or implicit indications. Phoenix Solar AG does not have the intention nor will it undertake any obligation to realise forward-looking statements on an ongoing basis or at a later point in time as this is entirely dependent on circumstances prevailing on the day of their release.

In some countries, especially in the United States of America, the dissemination of this press release and the information contained therein may be restricted or prohibited under the law. This press release is therefore expressly not intended for persons resident in the United States of America or any other legal system under which such an offer or solicitation is not permissible, or for persons for whom such an offer or invitation would constitute a breach of the law.


Sulzemoos, 14. August 2007


Publication and Reprint free of charge; please send a specimen copy Phoenix Solar AG.



Attention editorial offices: For further questions please contact Mrs. Anka Leiner, Investor Relations Phoenix Solar AG.

Hirschbergstr. 8
D-85254 Sulzemoos
Tel: 08135-938-315
Fax: 08135-938-399
E-mail: a.leiner@phoenixsolar.de>a.leiner@phoenixsolar.de
Internet: http://www.phoenixsolar.de

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