Phoenix Solar AG confirms record results for the financial year 2008

Sulzemoos - The Supervisory Board of Phoenix Solar AG (ISIN DE000A0BVU93), a leading photovoltaic system integrator listed in the TecDAX, has adopted the consolidated financial statements for the financial year 2008, drawn up and audited in accordance with the International Financial Reporting Standards (IFRS), and thereby confirmed the preliminary figures.

Over the period from January to December 2008, the Phoenix Solar Group generated total revenues of EUR 402.5 million (2007: EUR 260.1 million). Revenues of the Components & Systems segment climbed to EUR 214.6 million (2007: EUR 129.3 million), and the Power Plants segment raised revenues to EUR 187.8 million (2007: EUR 130.7 million). The share of total revenues from international business advanced to 39.7 percent in 2008, up from 27.1 percent in the previous year, which brought revenues generated by the Group’s international business to EUR 159.7 million (2007: EUR 70.4 million).

Earnings before interest and taxes (EBIT) advanced to EUR 33.82 million (2007: EUR 22.26 million). The EBIT margin (ratio of EBIT to revenues) came to 8.4 percent in the financial year 2008 (2007: 8.6 percent). The Components & Systems segment achieved an EBIT of EUR 13.96 million and the Power Plants segment an EBIT of EUR 19.86 million, which corresponds to an EBIT margin of 6.5 percent and 10.6 percent respectively.

Consolidated profit after tax rose to EUR 23.70 million (2007: EUR 14.48 million). Based on the average number of shares, earnings per share climbed from EUR 2.38 to EUR 3.63 (basic) and EUR 3.62 (diluted).

As per 31 December 2008, the equity ratio stood at 69.9 percent (2007: 61.4 percent).

The 2008 Annual Report with a complete set of consolidated financial statements will be published on 23 April 2009 and can be downloaded from the company's website at http://www.phoenixsolar.com under the heading Investor Relations, Financial Reports.

This is an English translation of the German original. In the event of any doubt, the German version shall prevail.


About Phoenix Solar AG

Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a leading international photovoltaic system integrator. With total revenues of around EUR 402 million, the Group achieved an EBIT of EUR 33.8 million in the financial year 2008. The Phoenix Solar Group anticipates revenues of around EUR 520 million, generated in Germany and abroad, and an EBIT of approximately EUR 31 million in the financial year 2009. Phoenix Solar AG plans, builds and undertakes the operation of large photovoltaic plants and is a specialist wholesaler for complete power plants, solar modules and accessories. The Group is a leader in photovoltaic system technology. It focuses on the consistent lowering of system costs. With a sales network throughout Germany, and subsidiaries in Spain, Italy, Greece, Singapore and Australia, the Group currently has a workforce of more than 230 employees.The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange and in the TecDAX, Deutsche Börse AG’s technology index.


Sulzemoos, 26 March 2009


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Attention editorial offices: For further questions please contact Mrs.
Anka Leiner, Investor Relations Phoenix Solar AG.

Hirschbergstr. 8
D-85254 Sulzemoos
Tel: 08135-938-315
Fax: 08135-938-399
E-mail: a.leiner@phoenixsolar.de
Internet: http://www.phoenixsolar.de

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