DGAP-News

Phoenix Solar AG publishes results for 9M/2015 - Seite 3

the third quarter (Q3/2014: EUR 3.2 million). This represents growth of EUR
39.1 million, which is due to construction work having started on several
power plant projects in the USA.

Following significantly weaker business trends, especially in France and
Southeast Asia, the Components & Systems Segment realized EUR 0.1 million
of revenues in the third quarter of 2015 (9M/2014: EUR 4.3 million) - a
fall of almost 100 percent.

In relation to total revenues in the quarter, the Components & Systems
Segment thereby accounted for just 0.3 percent (Q3/2014: 57.8 percent), and
the Power Plants Segment consequently for 99.7 percent (Q3/2014: 42.2
percent).

Setting aside the effect of the sale of the European O&M operations in the
fourth quarter of 2014, the Group generated the first positive result again
for six quarters in the third quarter of 2015. The EBIT result of EUR 1.1
million (Q3/2014: EUR -2.3 million) was significantly better than the
result achieved in the previous year's equivalent quarter, due to the
stronger business trend and the improvement in cost structures following
the previous years' restructuring. The EBIT margin consequently amounted to
2.5 percent (Q3/2015: -31.1 percent).

Order book position at the end of the third quarter 2015

The Group reported a free order book position of EUR 85.5 million as of
September 30, 2015 (September 30, 2014: EUR 41.0 million). The Group order
book position - including revenues already realized - amounted to EUR 163.4
million as of September 30, 2015 (September 30, 2014: EUR 44.1 million).

Outlook

The Executive Board expects to generate a considerable revenue growth for
the full year 2015 also with revenues coming in at the lower end of the EUR
140 million to EUR 160 million forecast range. Also maintained is the
earnings forecast for the year as revised in September 2015, according to
which the Group will achieve EBIT in a range between EUR -1 million and EUR
+1 million.

Tim P. Ryan, Chief Executive Officer of Phoenix Solar AG, stated: "It is
becoming ever more evident that we are indeed delivering on our promises.
Strong growth due to excellent performance and reputation, positive cash
flow, positive operating results for the quarter, almost breakeven on the
bottom line: These are strong indications that Phoenix Solar is on track -
and that we are making major progress in consolidating our turnaround. With
a strong record of growth and delivering on our turnaround promise in 2015,
we remain optimistic for the future."