24.08.11

Griesheim, 2011-8-24

ralos® New Energies AG, a national and international service provider and project developer for roof-mounted solar systems and solar farms, closed the first half of 2011 with a consolidated net profit of €44 thousand (previous year: € 447 thousand) according to preliminary figures, thereby generating a strong results turnaround.

While the first quarter benefited from ralos’ balanced business model (see corporate news dated 16 June 2011), the second quarter was dominated in particular by the various financial measures implemented by the Board of Directors (see corporate news dated 29 June 2011). With sales of around €37 million (down 38% year-on-year), these measures enabled not just positive operating earnings (EBIT of around €645 thousand) but also a sharp improvement in the net financial result and encouraging pre-tax earnings (EBT of around €160 thousand). In addition, there is also further tax relief not relating to earnings of over €1 million for the 2011 annual financial statements. Furthermore, following the successful integration of ralos Northern Italy GmbH into the ralos Group, the share of earnings attributable to minorities is expected to be significantly less.

However, the project pipeline already negotiated and set for implementation in the second half of the year is now considerably less than had been assumed just a short time ago. In particular, in addition to a lingering downturn in demand on the German solar market, the ralos® Group’s activities are being held back by a change in legislation in Italy, the interpretation of this in practice and the temporary withdrawal of a key customer.

The finalised figures for the first half of the year and further details on forecast business performance will be presented at the Annual General Meeting of ralos® New Energies AG, to be held in Darmstadt on 31 August 2011.

The Board of Directors