DGAP-News

Phoenix Solar AG presents its figures for the financial year 2014 - Seite 2

(2013: 14.6 Million EUR).

The Group incurred a loss before interest and taxes (EBIT) of EUR -4.6
million (2013: EUR -1.4 million). The EBIT margin fell accordingly from
-1.0 percent in 2013 to -13.7 percent in 2014. The net financial result of
EUR -5.1 million in the 2014 year was at the previous year's level (2013:
EUR -5.1 million).

The consolidated net result for the period attributable to shareholders
stood at EUR -10.2 million (2013: EUR -9.3 million). A consolidated net
profit of EUR 0.003 million was attributable to minority interests (2013:
EUR 1.4 million). Calculated on an average number of 7,372,700 shares basic
earnings per share stood at EUR -1.38 (2013: EUR -1.45). Since no material
dilutive effects existed as of December 31st, 2014, only a slight
difference occurs between diluted earnings per share and basic earnings per
share.

The order book position amounted to EUR 46.2 million as of December 31st,
2014 (December 31st, 2013: EUR 65.0 million). The order book position -
adjusted to reflect revenues that have already been realized -nevertheless
registered a marked increase from EUR 4.3 million as of December 31st,
2013, to EUR 36.3 million as of December 31st, 2014.

The cash outflow from operating activities amounted to EUR 3.9 million in
2014 (2013: cash inflow of EUR 2.3 million). The Phoenix Solar Group's cash
and cash equivalents declined to EUR 3.1 million in the 2014 financial year
(December 31st, 2013: EUR 10.0 million).

As a result of the consolidated net loss, the Group's equity fell by EUR
9.0 million to EUR -1.6 million (December 31st, 2013: EUR 7.5 million).
Accordingly, the equity ratio stood at -3.5 percent as of December 31st,
2014 (December 31st, 2013: 11.0 percent).

As the Group does not constitute a legally independent company in itself,
no going concern risks arise for the company as a result of its negative
equity. Solely the equity of Phoenix Solar AG as the parent company of the
Phoenix Solar Group is of legal relevance. This amounted to EUR 11.0
million as of December 31st, 2014, equivalent to a 20.0 percent equity
ratio (December 31st, 2013: EUR 4.2 million, equivalent to a 10.1 percent
equity ratio).

Outlook
As of the date of the approval of the financial statements the current net
order book position already stood at 300 percent of the 2014 revenues.
Against this backdrop, Phoenix Solar anticipates significant growth in