DGAP-Adhoc

Phoenix Solar AG below earnings forecast

Phoenix Solar Aktiengesellschaft / Key word(s): Profit Warning

18.09.2015 10:09

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Phoenix Solar AG below earnings forecast

- Operating result (EBIT) expected between EUR -1 million and EUR 1
million
- Revenue forecast of EUR 140 million to EUR 160 million is confirmed
- Customer unexpectedly cancels a major project in Asia

Sulzemoos September 18, 2015 / Phoenix Solar AG (ISIN DE000A0BVU93), a
leading international photovoltaic system integrator listed in the Prime
Standard of the Frankfurt Stock Exchange, will achieve an operating result
before interest and taxes (EBIT) for the fiscal year 2015 below the result
anticipated to date. The reason for the correction is the unexpected
cancellation by a customer of a major solar power plant in Asia. This
photovoltaic power plant will now no longer be built.

The company assumed to date that consolidated sales revenues between EUR
140 million and EUR 160 million would generate a positive result before
interest and tax (EBIT) of between EUR 1 million and EUR 3 million. While
the revenue forecast is confirmed, EBIT is now expected to fall within the
range of EUR -1 million and EUR +1 million.

The company assumes at the same time that mid-term this cancellation will
not diminish its business prospects. Due to new order intake received
during the third quarter of the year, the free order backlog as of
September 30, 2015 is expected to surpass EUR 80 million, compared to EUR
102 million as of June 30, 2015. The free order backlog as of the third
quarter quarter thus greatly exceeds the pre-year level at September 30,
2014 of EUR 44.1 million , and already extends well into the 2016 fiscal
year.
Phoenix Solar AG
Hirschbergstr. 4
85254 Sulzemoos
ISIN DE000A0BVU93, WKN A0BVU9.
Stock exchanges: XETRA, Frankfurt am Main (Prime Standard), Munich
(M:access), Stuttgart, Berlin, Düsseldorf, Hamburg, Hanover

Contact
Dr. Joachim Fleïng
Tel.: [phone]
[e-mail]

About Phoenix Solar AG
Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is
an international photovoltaic system integrator. The Group develops, plans,
builds and operates large-scale photovoltaic plants and is to a lower
extent a specialist wholesaler for turnkey power plants, solar modules and
accessories. With subsidiaries on three continents, the company has sold
solar modules with an output of significantly more than one gigawatt since