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DGAP-News: systaic AG backs growth forecast and predicts revenue growth of more than 30% for 2010

09.11.2009
systaic AG / Quarter Results 09.11.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- * Preliminary 9-month figures confirmed * SYSTAIC Energy Roof Systems now expanding its product range * Outlook for 2010: increase in revenue and earnings anticipated systaic AG, Düsseldorf, today confirmed its figures for the first nine months of 2009, which it had announced in advance on 27 October, and published its Interim Report as of 30 September 2009. As anticipated, consolidated revenue in Q3 was higher than in Q2, amounting to EUR 72,193 thousand (Q2: EUR 70,913 thousand), and was 22% higher than the year-ago figure (EUR 59,021 thousand). In the first nine months revenue reached EUR 193,147 thousand, thus increasing by 50% year-on-year (9M 2008: EUR 128,710 thousand). The SYSTAIC Group's earnings continued to show positive growth. EBIT increased by 71% in the third quarter, from EUR 3,185 thousand (9M 2008) to EUR 5,444 thousand. The operating result rose by 50% in the first nine months to EUR 9,243 thousand (9M 2008: EUR 6,183 thousand). The development of cash flow has also been encouraging: as of 30 September 2009 free cash flow amounted to EUR 13,158 thousand (9M 2008: EUR -54,402 thousand). Cash flow from operating activities was EUR 14,588 thousand (9M 2008: EUR -41,708 thousand). The significant increase is particularly attributable to cash receipts from projects and to the reduction of working capital in the second quarter. Development in the divisions Revenue in SYSTAIC Energy Roof Systems grew by 68% year-on-year to EUR 6,481 thousand (9M 2008: EUR 3,852 thousand). In order for systaic AG to be able to tailor its offering even better to the needs of its individual customers, SYSTAIC Energy Roof Systems is expanding its product range: in addition to the premium roof solution, which is now well established on the market, the division is also marketing a version with limited variation options as well as PV components for large-area roofs. These new energy roofs are based on the multi-award-winning design and thus likewise comply with the demand for a highly aesthetic, solar-integrated roof architecture. Aside from increasing revenue, the broader product range, with which SYSTAIC can now also offer cheaper roof solutions, shall also help to improve the company's operating margin. In the third quarter SYSTAIC Automotive almost recovered last year's excellent performance for solar generators delivered, despite the automotive crisis. The low quantities in August, which were due to vehicle manufacturers' holidays and annual plant shutdowns, were completely recouped by the huge volumes in September. In spite of this, however, revenue failed to increase in the first nine months of 2009: instead, it decreased compared with the previous year, by 37%, from EUR 7,463 thousand (9M 2008) to EUR 4,674 thousand. Also in the SYSTAIC Solar Power Plants division the Group recorded progress with its projects. The project pipeline filled further in the third quarter; financing by investors also progressed. The SYSTAIC Solar Power Plants division increased its revenue by 55% compared with the first nine months of the previous year, to EUR 181,992 thousand (9M 2008: EUR 117,395 thousand). Earnings also improved significantly in the first nine months of this year, rising from EUR 8,565 thousand (9M 2008) to EUR 16,707 thousand. Outlook The SYSTAIC Group is looking forward with optimism thanks to increasing demand in the Energy Roof Systems and Automotive divisions and its planned solar plant projects. 'We expect our growth in the next year to again be faster than the market,' says Michael Pack, CEO of systaic AG. According to the moderate EPIA estimate, the market will grow by 30% in 2010. 'With our planned revenue target of between EUR 400 and 450 million for 2010, which equates to growth of more than 30 to up to 50%, systaic AG's planning exceeds the growth scenario of the European industry association,' says Pack, talking about the Company's outlook for the next financial year. The company's profitability is also expected to improve: SYSTAIC's Executive Board anticipates an EBIT margin at Group level of around 8%. More figures and details on the first nine months and the third quarter of 2009 are provided in the Group's Interim Report as of 30 September 2009 and on the company website at www.systaic.com. About systaic AG systaic AG specialises in efficient and aesthetically pleasing solar power solutions: the core product is the SYSTAIC energy roof for generating electricity and heat from solar energy on building rooftops. The SYSTAIC Automotive business area is worldwide the only series manufacturer of solar solutions for the roofs of different makes of car. The development and installation of photovoltaic power plants also implemented by its subsidiary Enerparc is a further focal point in its portfolio. systaic AG was founded in November 2004 and it has been listed on the Frankfurt Stock Exchange since March 2007. The company was admitted to the Prime Standard segment in September 2008. Group turnover increased more than six-fold to EUR 199 million in 2008. In the first half of 2009 the group revenue of SYSTAIC stood at EUR 121 million, a 74% increase over the same period of the previous year. The company currently employs a workforce of over 200. Contact: systaic AG Achim Zolke Head of Corporate Communications Kasernenstraße 27 40213 Düsseldorf Germany Phone: 0049-211-828559-0 Fax: 0049-211-828559-258 a.zolke@systaic.com www.systaic.com 09.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de =-------------------------------------------------------------------------- Language: English Company: systaic AG Kasernenstr. 27 40213 Düsseldorf Deutschland Phone: +49 (0)211 828559-0 Fax: +49 (0)211 828559-29 E-mail: ir@systaic.com Internet: http://www.systaic.de ISIN: DE000A0JKYP6 WKN: A0JKYP Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of News DGAP News-Service =--------------------------------------------------------------------------

systaic AG / Quarter Results 09.11.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- * Preliminary 9-month figures confirmed * SYSTAIC Energy Roof Systems now expanding its product range * Outlook for 2010: increase in revenue and earnings anticipated systaic AG, Düsseldorf, today confirmed its figures for the first nine months of 2009, which it had announced in advance on 27 October, and published its Interim Report as of 30 September 2009. As anticipated, consolidated revenue in Q3 was higher than in Q2, amounting to EUR 72,193 thousand (Q2: EUR 70,913 thousand), and was 22% higher than the year-ago figure (EUR 59,021 thousand). In the first nine months revenue reached EUR 193,147 thousand, thus increasing by 50% year-on-year (9M 2008: EUR 128,710 thousand). The SYSTAIC Group's earnings continued to show positive growth. EBIT increased by 71% in the third quarter, from EUR 3,185 thousand (9M 2008) to EUR 5,444 thousand. The operating result rose by 50% in the first nine months to EUR 9,243 thousand (9M 2008: EUR 6,183 thousand). The development of cash flow has also been encouraging: as of 30 September 2009 free cash flow amounted to EUR 13,158 thousand (9M 2008: EUR -54,402 thousand). Cash flow from operating activities was EUR 14,588 thousand (9M 2008: EUR -41,708 thousand). The significant increase is particularly attributable to cash receipts from projects and to the reduction of working capital in the second quarter. Development in the divisions Revenue in SYSTAIC Energy Roof Systems grew by 68% year-on-year to EUR 6,481 thousand (9M 2008: EUR 3,852 thousand). In order for systaic AG to be able to tailor its offering even better to the needs of its individual customers, SYSTAIC Energy Roof Systems is expanding its product range: in addition to the premium roof solution, which is now well established on the market, the division is also marketing a version with limited variation options as well as PV components for large-area roofs. These new energy roofs are based on the multi-award-winning design and thus likewise comply with the demand for a highly aesthetic, solar-integrated roof architecture. Aside from increasing revenue, the broader product range, with which SYSTAIC can now also offer cheaper roof solutions, shall also help to improve the company's operating margin. In the third quarter SYSTAIC Automotive almost recovered last year's excellent performance for solar generators delivered, despite the automotive crisis. The low quantities in August, which were due to vehicle manufacturers' holidays and annual plant shutdowns, were completely recouped by the huge volumes in September. In spite of this, however, revenue failed to increase in the first nine months of 2009: instead, it decreased compared with the previous year, by 37%, from EUR 7,463 thousand (9M 2008) to EUR 4,674 thousand. Also in the SYSTAIC Solar Power Plants division the Group recorded progress with its projects. The project pipeline filled further in the third quarter; financing by investors also progressed. The SYSTAIC Solar Power Plants division increased its revenue by 55% compared with the first nine months of the previous year, to EUR 181,992 thousand (9M 2008: EUR 117,395 thousand). Earnings also improved significantly in the first nine months of this year, rising from EUR 8,565 thousand (9M 2008) to EUR 16,707 thousand. Outlook The SYSTAIC Group is looking forward with optimism thanks to increasing demand in the Energy Roof Systems and Automotive divisions and its planned solar plant projects. 'We expect our growth in the next year to again be faster than the market,' says Michael Pack, CEO of systaic AG. According to the moderate EPIA estimate, the market will grow by 30% in 2010. 'With our planned revenue target of between EUR 400 and 450 million for 2010, which equates to growth of more than 30 to up to 50%, systaic AG's planning exceeds the growth scenario of the European industry association,' says Pack, talking about the Company's outlook for the next financial year. The company's profitability is also expected to improve: SYSTAIC's Executive Board anticipates an EBIT margin at Group level of around 8%. More figures and details on the first nine months and the third quarter of 2009 are provided in the Group's Interim Report as of 30 September 2009 and on the company website at www.systaic.com. About systaic AG systaic AG specialises in efficient and aesthetically pleasing solar power solutions: the core product is the SYSTAIC energy roof for generating electricity and heat from solar energy on building rooftops. The SYSTAIC Automotive business area is worldwide the only series manufacturer of solar solutions for the roofs of different makes of car. The development and installation of photovoltaic power plants also implemented by its subsidiary Enerparc is a further focal point in its portfolio. systaic AG was founded in November 2004 and it has been listed on the Frankfurt Stock Exchange since March 2007. The company was admitted to the Prime Standard segment in September 2008. Group turnover increased more than six-fold to EUR 199 million in 2008. In the first half of 2009 the group revenue of SYSTAIC stood at EUR 121 million, a 74% increase over the same period of the previous year. The company currently employs a workforce of over 200. Contact: systaic AG Achim Zolke Head of Corporate Communications Kasernenstraße 27 40213 Düsseldorf Germany Phone: 0049-211-828559-0 Fax: 0049-211-828559-258 a.zolke@systaic.com www.systaic.com 09.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de =-------------------------------------------------------------------------- Language: English Company: systaic AG Kasernenstr. 27 40213 Düsseldorf Deutschland Phone: +49 (0)211 828559-0 Fax: +49 (0)211 828559-29 E-mail: ir@systaic.com Internet: http://www.systaic.de ISIN: DE000A0JKYP6 WKN: A0JKYP Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of News DGAP News-Service =--------------------------------------------------------------------------

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