Press Releases of 2006

Phönix SonnenStrom AG raises consolidated sales to EUR 111 million

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Phönix SonnenStrom AG raises consolidated sales to EUR 111 million [ PDF | 105.37kb ]

EBIT soars 204 % to EUR 7.6 million
Annual net income almost trebled at EUR 5 million

Sulzemoos, 28 February 2006 / Phönix SonnenStrom AG (ISIN DE000A0BVU93) has released the preliminary key data of its consolidated annual financial statements, drawn up for the first time under the International Financial Reporting Standards (IFRS), on the basis of preliminary figures for the financial year 2005.

Sales of the Phönix Group rose to EUR 111.1 million in 2005, up from EUR 67.3 million in the previous year, which represents a growth of 65 percent. In the period under review, 34 percent of these sales were accounted for by the Projects segment, 66 percent by the Distribution segment of which more than EUR 6 million were generated abroad.

Earnings before interest and tax (EBIT) soared 204 percent to EUR 7.6 million (2004: EUR 2.5 million). Net income for the year came to EUR 5 million (2004: EUR 1.7 million) and, with an increase of 195, has nearly trebled. Deferred tax under IFRS will, however, reduce the result somewhat.

Net income for the year equates to an earnings per share (EPS) of EUR 0.92; with 5,525,000 shares outstanding currently. In 2004, EPS stood at EUR 0.34, with 5,025,000 shares outstanding. The EBIT margin, i.e. the relationship of EBIT to sales, improved in the financial year 2005 to 6.9 percent, the highest in the company’s history (2004: 3.7 percent). Return on capital employed net of tax climbed to more than 21 percent in 2005, up from 14 percent in 2004.
The figures cited above are preliminary. The company has switched its accounting standards to IFRS and, for the first time, a set of consolidated financial statements were prepared under IFRS. Phönix SonnenStrom AG will be publishing its full, certified annual financial statements, along with its Annual Report 2005, in mid-May. The Annual General Meeting will take place on 7 July in Fürstenfeldbruck.

Business performance key data for 01/01/2005 to 31/12/2005 (preliminary, consolidated)
Owing to the change in the basis of accounting to IFRS, there are deviations from the 2004 figures previously released under the German Commercial Code (HGB).

	2004	2005	Change
Accounting Standards	IFRS	*IFRS*
Sales (€ m)	67.3	111.1	65 %
Total sales (€ m)	67.5	112.3	66 %
EBIT (€ m)	2.5	7.6	204 %
Net income for the year (€ m)	1.7	5.0	195 %
EBIT margin (%)	3.7	6.9	-
Earnings per share (€)	0.34*	0.92**	0.58 €
Total assets*** (€ m)	20.2	36.4	80 %
Equity*** (€ m)	12.0	23.4	95 %
Equity ratio*** (%)	59	64	-
Return on equity*** (%)	14	21

* Number of shares: 5,025,000 ** Number of shares: 5,525,000 *** at the end of the period

This is an English translation of the German original.Only the German version is binding.

About Phönix SonnenStrom AG
Phönix SonnenStrom AG, based in Sulzemoos near Munich, is a leading systems supplier in the German and European photovoltaic markets. The company designs and builds large-scale photovoltaic plants and operates as a wholesaler of complete solar electricity plants, solar modules and components. In 2005, Phönix SonnenStrom AG received the "Bayerns Best 50" and "Europe's 500" awards in recognition of its rapid growth. The shares of the company (ISIN DE000A0BVU93) have been traded on the OTC segment since November 2004 and has been listed on the M:access quality segment of the Munich Stock Exchange since July 2005.

For further information please contact
Phönix SonnenStrom AG
Hirschbergstraße 8
D-85254 Sulzemoos

Investor Relations
Anka Leiner
Tel.	+49 (0)8135 938 - 315
Fax	+49 (0)8135 938 - 399
Leiner@SonnenStromAG.de
www.SonnenStromAG.de