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DGAP-News: SYSTAIC enjoys a successful first half of 2009

17.07.2009
systaic AG / Forecast/Half Year Results 17.07.2009 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- * Revenue increases by 73% according to provisional calculations * Earnings before interest and taxes also improve * Positive free cash flow totals EUR 27 million * Working capital significantly reduced and equity bolstered systaic AG, Düsseldorf, announces substantial improvements in the most important key figures year-on-year during the first half of 2009, according to preliminary calculations. Consolidated revenue was up 73% in the first six months to EUR 121 million compared to the same period in the previous year (H1 2008: EUR 70 million), while EBIT (earnings before interest and taxes) increased to EUR 4 million (H1 2008: EUR 3 million). The company was also able to considerably improve free cash flow (after investing activities): From January to March 2009, this figure was still at EUR -11 million, but the company was able to generate a free cash flow of EUR 38 million in the second quarter. This corresponds to a positive figure of EUR 27 million for the first half of the year. Despite the significant growth in business, SYSTAIC was successful in reducing the consolidated balance sheet total and working capital by a third in the first half of the year. From 31 December 2008, total assets decreased from EUR 226 million to EUR 150 million as of 30 June 2009. This was attributable in part to the reduction in trade receivables of EUR 164 million since the last annual financial statements. The successful capital increase in June 2009 was an important step towards strengthening equity, which amounted to EUR 66 million as of 30 June 2009 (31 December 2008: EUR 51 million). The equity ratio doubled compared to 31 December 2008 from 22% to 44%. SYSTAIC therefore has a solid equity ratio and a healthy balance sheet structure. 'There are several reasons why systaic AG is managing to set itself apart from the competition in the solar sector even in these times of financial market crisis. Among other things, we are benefitting from good value module prices, which have halved since last summer. The construction of roof-integrated solar systems for green houses is also allowing us to accelerate our growth. Projects like this require no reallocation of agricultural land, which makes approval periods shorter,' explains Michael Pack, CEO of systaic AG, when asked about the advantages of the SYSTAIC business model. 'The project developer of the plant currently being built by SYSTAIC in Sardinia already has feed-in approvals for a volume of 150 megawatts peak. This represents total revenue of around EUR 600 million. The low prices mean that demand among investors for solar systems like these is increasing in all European countries,' explains Pack. 'SYSTAIC has excellent and well-established contacts with first-class investors.' The SYSTAIC Automotive division once again recorded increasing releases for orders in the second quarter. In June and July these were already at the same level as the corresponding period in the previous year. Numerous development contracts mean that SYSTAIC can also look forward to a positive future in this business segment. The SYSTAIC Energy Roof Systems division recorded increasing incoming orders. As a result, revenue growth is anticipated in the second half of the year compared to the first six months of 2009. On the back of group development in the first half of the year, the Executive Board has confirmed its goals for the full year 2009. These include increasing SYSTAIC revenue to over EUR 300 million with earnings before interest and taxes (EBIT) growing at a similar rate. About SYSTAIC: systaic AG specialises in efficient and aesthetically pleasing solar power solutions: the core product is the SYSTAIC energy roof for buildings, a multi-awardwinning energy system for electricity and heat generation. With its subsidiary Webasto Solar GmbH SYSTAIC is the world's only series manufacturer of photovoltaic generators for car roofs. The development and installation of large-scale photovoltaic power plants also implemented by its subsidiary Enerparc is a further focal point in its portfolio. Subsidiaries of systaic AG are Enerparc AG, Düsseldorf, systaic Portugal (Sistemas Energéticos de Portugal Lda.), Lisbon, systaic Americas Inc., Carlsbad, systaic France S.A.R.L., Paris, systaic Hellas MEPE, systaic Ibérica S.L.U., Barcelona, systaic Italia S.r.L. and systaic sourcing AG & Co., Düsseldorf, systaic Technologies GmbH, Düsseldorf and Webasto Solar GmbH, Landsberg. Contact: systaic AG Achim Zolke (Head of PR) Kasernenstraße 27 40213 Düsseldorf Germany Phone: 0049-211-828559-0 Fax: 0049-211-828559-258 a.zolke@systaic.com www.systaic.com 17.07.2009 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: 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 / Forecast/Half Year Results 17.07.2009 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- * Revenue increases by 73% according to provisional calculations * Earnings before interest and taxes also improve * Positive free cash flow totals EUR 27 million * Working capital significantly reduced and equity bolstered systaic AG, Düsseldorf, announces substantial improvements in the most important key figures year-on-year during the first half of 2009, according to preliminary calculations. Consolidated revenue was up 73% in the first six months to EUR 121 million compared to the same period in the previous year (H1 2008: EUR 70 million), while EBIT (earnings before interest and taxes) increased to EUR 4 million (H1 2008: EUR 3 million). The company was also able to considerably improve free cash flow (after investing activities): From January to March 2009, this figure was still at EUR -11 million, but the company was able to generate a free cash flow of EUR 38 million in the second quarter. This corresponds to a positive figure of EUR 27 million for the first half of the year. Despite the significant growth in business, SYSTAIC was successful in reducing the consolidated balance sheet total and working capital by a third in the first half of the year. From 31 December 2008, total assets decreased from EUR 226 million to EUR 150 million as of 30 June 2009. This was attributable in part to the reduction in trade receivables of EUR 164 million since the last annual financial statements. The successful capital increase in June 2009 was an important step towards strengthening equity, which amounted to EUR 66 million as of 30 June 2009 (31 December 2008: EUR 51 million). The equity ratio doubled compared to 31 December 2008 from 22% to 44%. SYSTAIC therefore has a solid equity ratio and a healthy balance sheet structure. 'There are several reasons why systaic AG is managing to set itself apart from the competition in the solar sector even in these times of financial market crisis. Among other things, we are benefitting from good value module prices, which have halved since last summer. The construction of roof-integrated solar systems for green houses is also allowing us to accelerate our growth. Projects like this require no reallocation of agricultural land, which makes approval periods shorter,' explains Michael Pack, CEO of systaic AG, when asked about the advantages of the SYSTAIC business model. 'The project developer of the plant currently being built by SYSTAIC in Sardinia already has feed-in approvals for a volume of 150 megawatts peak. This represents total revenue of around EUR 600 million. The low prices mean that demand among investors for solar systems like these is increasing in all European countries,' explains Pack. 'SYSTAIC has excellent and well-established contacts with first-class investors.' The SYSTAIC Automotive division once again recorded increasing releases for orders in the second quarter. In June and July these were already at the same level as the corresponding period in the previous year. Numerous development contracts mean that SYSTAIC can also look forward to a positive future in this business segment. The SYSTAIC Energy Roof Systems division recorded increasing incoming orders. As a result, revenue growth is anticipated in the second half of the year compared to the first six months of 2009. On the back of group development in the first half of the year, the Executive Board has confirmed its goals for the full year 2009. These include increasing SYSTAIC revenue to over EUR 300 million with earnings before interest and taxes (EBIT) growing at a similar rate. About SYSTAIC: systaic AG specialises in efficient and aesthetically pleasing solar power solutions: the core product is the SYSTAIC energy roof for buildings, a multi-awardwinning energy system for electricity and heat generation. With its subsidiary Webasto Solar GmbH SYSTAIC is the world's only series manufacturer of photovoltaic generators for car roofs. The development and installation of large-scale photovoltaic power plants also implemented by its subsidiary Enerparc is a further focal point in its portfolio. Subsidiaries of systaic AG are Enerparc AG, Düsseldorf, systaic Portugal (Sistemas Energéticos de Portugal Lda.), Lisbon, systaic Americas Inc., Carlsbad, systaic France S.A.R.L., Paris, systaic Hellas MEPE, systaic Ibérica S.L.U., Barcelona, systaic Italia S.r.L. and systaic sourcing AG & Co., Düsseldorf, systaic Technologies GmbH, Düsseldorf and Webasto Solar GmbH, Landsberg. Contact: systaic AG Achim Zolke (Head of PR) Kasernenstraße 27 40213 Düsseldorf Germany Phone: 0049-211-828559-0 Fax: 0049-211-828559-258 a.zolke@systaic.com www.systaic.com 17.07.2009 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: 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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