DGAP-News: Phoenix Solar AG

DGAP-News: Phoenix Solar presents preliminary results for 2015 and forecasts further growth in 2016

DGAP-News: Phoenix Solar Aktiengesellschaft / Key word(s): Preliminary Results Phoenix Solar presents preliminary results for 2015 and forecasts further growth in 2016

10.03.2016 / 10:30 The issuer is solely responsible for the content of this announcement.

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Phoenix Solar presents preliminary results for 2015 and forecasts further growth in 2016

- 2015 revenues more than tripled, earnings significantly improved, EBIT slightly below forecast

- For 2016, strong revenue growth and continued profitability improvement planned

- Free order backlog at EUR195,7 million

Sulzemoos, March 10, 2016 - Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic system integrator, listed in the Prime Standard of the Frankfurt Stock Exchange, today released its preliminary financials on the fiscal year 2015 (as of December 31st, 2015) and its forecast for the new year 2016. The results have yet to be audited.

According to the preliminary 2015 figures, consolidated revenues reached approximately EUR119 million (2014: EUR33.8 million), an improvement of some 250 percent. In 2015, an EBIT result (earnings before interest and taxes) of EUR-1.6 million was achieved in the fiscal year now ended versus a 2014 final figure of EUR-4.6 million; it should be noted that EBIT in 2014 was EUR-9.1 million if a one-time gain on the sale of a business in 2014 is excluded. Revenues and earnings were thus slightly below the most recent guidance from last fall, which at the time predicted revenues of EUR140 million and EBIT in the range of EUR1.0 million to EUR-1.0 million. The final revenues being slightly below forecast can be attributed to a delay in the construction start of some projects - revenues which will now be realized in 2016.

In 2016 Phoenix Solar is targeting consolidated revenues of EUR180 million to EUR210 million and EBIT in the range of EUR2.0 million to EUR4.0 million. As in the past, the company assumes that revenue growth will pick up in the second quarter of 2016.

The revenue forecast for 2016 is backed by a free order backlog (order backlog according to IFRS less services already billed) that stood at EUR195.7 million as of December 31st, 2015 (December 31st, 2014: EUR36.3 million). The order backlog includes a number of projects already announced in separate press releases. The project pipeline, weighted by probability (projects under construction, contract signed or short listed), amounted to more than 300 MWp at the end of the year. In the case of one contract in the free order backlog, no construction permit has been granted for some time now, so this has not been included in the forecast.

Tim P. Ryan, Group CEO at Phoenix Solar stated: "We are proud to have achieved solid growth in 2015. A very disciplined approach to building our global project pipeline and further professionalization of our sales teams in the US, Asia Pacific and the Middle East, our core markets, is paying off. We continue to manage costs and margins carefully to improve profitability. Demand for differentiated, quality EPC services to investors and owners of commercial solar PV plants worldwide remains strong and we continue to be very optimistic for our future."

About Phoenix Solar AG Phoenix Solar AG, that has its headquarters in Sulzemoos near Munich, is an international photovoltaic system integrator. The Group develops, plans, builds and operates large-scale photovoltaic plants and is a specialist wholesaler for turnkey power plants, solar modules and accessories. As an EPC contractor specializing in building solar power plants, Phoenix Solar lays special emphasis on on-budget and on-time construction and delivery of solar power plants optimized to deliver superior return. With subsidiaries on three continents, the company has sold solar modules with an output of significantly more than 1.2 gigawatt since its founding. The stocks of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange. www.phoenixsolar-group.com.

Contact: Phoenix Solar AG Dr. Joachim Fleing Investor Relations Representative Tel.: +49 (0)8135 938-315 Fax: +49 (0)8135 938-399 j.fleing@phoenixsolar.de www.phoenixsolar-group.com

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10.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Language: English Company: Phoenix Solar Aktiengesellschaft Hirschbergstraße 4 85254 Sulzemoos Germany Phone: +49 (0)8135-938-000 Fax: +49 (0)8135-938-099 E-mail: kontakt@phoenixsolar.de Internet: www.phoenixsolar-group.de ISIN: DE000A0BVU93 WKN: A0BVU9 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich (m:access), Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------

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