systaic AG / Half Year Results 14.08.2008 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. =-------------------------------------------------------------------------- ? EBIT increased to EUR 3.0m ? All strategic business segments developing as expected ? Change to Prime Standard segment envisaged for end September Dusseldorf, 14.08.2008 - in the first half of 2008, systaic AG recorded a strong growth in sales and result, and therefore was able to continue the success of business development in 2007. Thanks to substantial progress in the area of solar power plants, the solar energy company was able to increase group sales in the first six months from EUR 11.3m to EUR 69.7m - more than six times the amount compared to the same period in the previous year (all data in accordance with IFRS). The group result also showed a significant growth in the first half of the year. All four strategic business segments - SYSTAIC Energy Roof Systems, SYSTAIC Automotive, SYSTAIC Solar Power Plants and SYSTAIC Planning & Engineering - are developing as expected. SYSTAIC, listed in the Entry Standard Segment of the Frankfurt Stock Exchange since March 2006, is therefore right on course to achieve its targets for the entire year. Company key data 1. half year 2008 In the first half of 2008, earnings before interest, taxes, depreciation and amortization (EBITDA) achieved EUR 3.56m - equivalent of quadrupling the value of the same period in 2007 (EUR 0.92m). Earnings before interest and taxes (EBIT) amounted to EUR 3.0m (H1 2007: EUR 0.66m). The company shows a half-year profit after tax and minority interests which has increased to EUR 1.44m (previous year: EUR 0.57m), corresponding to an undiluted result per share of EUR 0.16 (weighted average: 5.82m shares), following EUR 0.19 last year (weighted average: 2.78m shares). Michael Pack, Chief Executive Officer of systaic AG: 'Development in the first half of 2008 has been very positive for SYSTAIC. In the business segments that carry strategic importance - SYSTAIC Energy Roof Systems and SYSTAIC Automotive - we were able to make significant progress in the areas of technology, market development and new orders. Regarding solar power plants, we have almost completed our orders for the construction of solar power plants in Spain. Thanks to the corporate action taken in the first half year, and the completed financing, our company continues to be well-equipped with rock-solid capitalization and liquidity. Thus we are ready for further growth. Finally, due to the forthcoming change to the Prime Standard Segment at the Frankfurt Stock Exchange, our shares will become even more attractive.' Performance of Business Segments The SYSTAIC Energy Roof Systems business segment develops, produces and markets a new generation of innovative solar systems. The system, which is now market-ready and was presented at Intersolar in June with both photovoltaic and solar thermal units, features a highly aesthetic solution to suit any roof shape. Order backlog is increasing as market demand is very high. The area of SYSTAIC Automotive, which is operated as a joint venture with Webasto AG, develops and produces solar roofs for the automotive industry. The debate on climate change caused by car emissions, which grew considerably more intense over the last six months, as well as the high fuel prices have led to a wider acceptance of solar roofs for cars, thereby substantially increasing future market potential. The segment of SYSTAIC Solar Power Plants, which deals with the construction of turnkey solar power plants, made significant progress in the project area in the first six months and is currently preparing the handover of power plants with an overall capacity of 23 megawatt to investors in Spain. For the second half year and beyond, the segment's order pipeline in other European countries is strong. With its team of experienced engineers, architects and technicians, the area of SYSTAIC Planning and Engineering is a professional project developer for solar plants of any size. Due to the global debate on climate change and energy policies, SYSTAIC expects considerable growth in the demand for photovoltaic and solar thermal solutions. Solid balance sheet relations As per end-June of this year, SYSTAIC's balance sheet total achieved EUR 117.5 m - an increase of EUR 71.4m compared to the value as per end-December 2007. Despite this strong growth, the equity-to-assets ratio continued at a solid level at 36 % (31 December 2007: 46 %). This result is primarily owed to the two increases in cash capital implemented during the first half year, which led to an influx of funds of EUR 11.7m, as well as the conversion of a large part of convertibles issued in 2007. The company's net financial indebtedness sank to EUR 5.1m towards the middle of the year (31 December 2007: EUR 11.9m). Segment change SYSTAIC AG is currently preparing to make the change from Entry Standard to the regulated market (Prime Standard) at the Frankfurt Stock Exchange. Authorization of the shares is expected to take place at the end of September. With this change to the regulated market (Prime Standard), in the future, the company will be subject to extended transparency and reporting obligations in accordance with international standards. In the first half of 2008, the SYSTAIC recorded an increase in value of about 40 %, while the photovoltaic index (PPVX) lost 24 % of its value. Outlook 2008 For the second half of the year, the company's order books are full in all business segments. This applies to both the area of energy roof systems and project business. On the basis of the current demand, project progress and the overall favorable general conditions for solar solutions, the Board of Executives is expecting this dynamic business development to continue also in the second half of the year. About systaic AG Thanks to the consequent implementation of strategies, systaic AG is one of the most rapidly growing companies in the area of renewable energies in Europe. In Europe, the SYSTAIC Group produces and markets a new generation of solar systems which are very different from systems currently available on the market. SYSTAIC's products are also supported by an extensive range of services. The integrated system solutions for buildings have a very flexible visual design and guarantee kw/h-output over 24 years. The innovative SYSTAIC energy roof achieved 1st place in the 'Innovation Award for Architecture and Construction' at Deubau 2008 - the third award, having received the 'Golden Innovation Award for Sustained Development' and the People's Choice Award 'Trophée de l'Innovation'. In addition, SYSTAIC is currently the only manufacturer of solar solutions for the automotive industry who is active in the areas of planning and implementation of solar power plants. systaic AG includes the following subsidiaries: Webasto Solar GmbH, Landsberg, systaic Ibérica S.L.U., Barcelona, systaic France S.A.R.L., Paris, systaic Italia S.r.l., and systaic Americas Inc., Carlsbad. Additional Information: ISIN: DE000A0JKYP6 Open Market / Entry Standard; Frankfurt Stock Exchange systaic AG Achim Zolke, Head of PR Kasernenstraße 27 40213 Düsseldorf - Germany Tel. 0049-(0)211 828559-0 Fax . 0049-(0)211 828559-29 email@example.com www.systaic.eu 14.08.2008 Financial News transmitted by DGAP =--------------------------------------------------------------------------
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