SCHOTT Solar Announces Preliminary FY 2007/2008 Figures

During the company’s fiscal year 2007/2008 (1 October 2007 to 30 September 2008) SCHOTT Solar AG, and its subsidiaries, recorded an approximately 70 percent growth in sales to EUR 482 million (previous year: EUR 283 million*). The same period saw a significant improvement * in the company’s earnings before interest and taxes (EBIT) to EUR 52 million (previous year: EUR 9 million. As of 30 September 2008, 1,650 people (previous year: 1,037) were employed at locations in Germany, Spain, the Czech Republic and the USA. SCHOTT Solar AG considers itself to be the leading supplier of receivers for solar power plants with parabolic trough technology and as an integrated provider of photovoltaic products.

“In the past financial year we consistently implemented our company strategy of sustainable growth, and thanks to our unique positioning in the concentrated solar power and photovoltaics businesses we are well prepared for the future,” emphasized Dr. Martin Heming, the company’s Chief Executive Officer.

The company’s expansion of its photovoltaics production capacities proceeded as planned. This included an increase in the crystalline cell and module production capacities to 185 megawatts (previous year: 135 megawatts) and 170 megawatts (previous year: 90 megawatts), respectively. Thin film production capacity increased more than 10 times, to 35 megawatts (previous year: 3 megawatts). The start-up of the first production line at the new Aznalcollàr factory in Spain boosted the capacities of the Concentrated Solar Power division to a total of approximately 400 megawatts.

SCHOTT Solar AG anticipates reporting continued strong sales growth and a positive profit trend for the financial year 2008/2009. However, the overall 2009 business trend in the solar power industry will substantially depend on the implications of the global economic crisis in the financial market and the impact on the real economy. The extent of this impact, and the implications on the global solar market, is difficult to forecast, at this time.