DGAP-News: Phoenix Solar Aktiengesellschaft: Confirmation of record results for the financial year

Phoenix Solar Aktiengesellschaft / Final Results

24.04.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Phoenix Solar AG: Confirmation of record results for the financial year
2007

- Presentation of the Annual Report 2007
- Record year for revenues and EBIT
- Revenue generated by international business climbs to 27 percent

Sulzemoos, 24 April 2008 / With the presentation of its Annual Report 2007,
Phoenix Solar AG (ISIN DE000A0BVU93) has confirmed the preliminary figures,
published on 13 March, for the consolidated financial statements of the
financial year 2007.

Accordingly, total revenues of the systems integrator with its
international operations came to EUR 260 million (2006: EUR 119 million)
and had therefore more than doubled over the reporting period from January
to December 2007. Earnings before interest and taxes (EBIT) rose to EUR
22.3 million, up from EUR 4.8 million, which is more than fourfold the
previous year’s figure.  EBIT has thus reached its highest level in the
history of the company. The EBIT margin (the ratio of EBIT to sales) of 8.6
percent also reached a high level (2006: 4.0 percent).

In the reporting period, consolidated profit after tax came in at EUR 14.5
million, up from EUR 3.0 million in 2006, which is an increase of 383
percent. The number of shares outstanding in the financial year stood at
6,077,000 shares, which brings earnings per share to EUR 2.38, a result
which is considerably higher than the previous year’s figure of EUR 0.55.

The Group raised return on equity  from 9.1 percent in 2006 to 30.6 percent
in the reporting year. With a stable equity ratio of 61.4 percent (2006:
61.7 percent) as per 31 December, the Group has a strong financial base for
further growth.

The very positive development of the Spanish market made a major
contribution to success in the financial year. All in all, the share of
international business came to 27 percent (2006: 12 percent). This share is
to be built up to more than 50 percent by the year 2010.

As a result of the successful financial year 2007, the Board of Directors
and the Supervisory Board have put forward a proposal to the shareholders
at the Annual General Meeting, to be held on 3 June 2008, to double the
dividend to EUR 0.20 per share (2006: EUR 0.10).

The Annual Report can be downloaded from the company website at
www.phoenixsolar.de under the heading Investor Relations, Financial
Reports. The print version of the Annual Report will be available as from
19 May 2008.


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. With total revenues of EUR 260 million, the Group's EBIT came to EUR
22.3 million in the financial year 2007. Phoenix Solar AG develops, 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
170 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are
listed on the official market (Prime Standard) of the Frankfurt Stock
Exchange. On 25 March 2008, the shares of the company were admitted to the
TecDAX technology index of Deutsche Börse AG.

Contact:
Phoenix Solar AG
Anka Leiner
Investor Relations
Hirschbergstraße 8
D-85254 Sulzemoos

Tel. +49 (0) 8135 938-315
Fax: +49 (0) 8135 938-399
a.leiner@phoenixsolar.de
www.phoenixsolar.de

Amtsgericht München HRB 129117 
Ust-ID Nr. DE 812868419 



DGAP 24.04.2008 
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Language:     English
Issuer:       Phoenix Solar Aktiengesellschaft
              Hirschbergstraße 8
              85254 Sulzemoos
              Deutschland
Phone:        +49 (0)8135-938-000
Fax:          +49 (0)8135-938-099
E-mail:       kontakt@phoenixsolar.de
Internet:     http://www.phoenixsolar.de
ISIN:         DE000A0BVU93
WKN:          A0BVU9
Indices:      TecDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, München, Düsseldorf, Stuttgart
End of News                                     DGAP News-Service
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