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28.02.2006 00:00

Q-Cells AG raises sales by 132% Net income jumps by 237%

Thalheim, February 28, 2006: Q-Cells AG (QCE; WKN 555866) has published its preliminary full-year results for 2005 (with the Group reporting to IFRS for the first time). Sales surged by 132% to €299.4 million (2004: €128.7 million). With a total output of 165.7 MWp (2004: 75.9 MWp) the company is continuing on its path of growth and at the end of 2005 was one of the world's three largest producers of solar cells.  

Earnings before interest and tax (EBIT) more than trebled year on year to €63.2 million (2004: €19.6 million). Despite the pro rata inclusion of the start-up losses incurred by the building of the production lines at affiliates CSG Solar AG and EverQ GmbH, net income jumped by 233% to €39.9 million (2004: €12 million).  

At the end of 2005, the world's largest independent manufacturer of solar cells had an annual production capacity of 234 MWp (equating to a nominal capacity of 292 MWp) at its site in Thalheim and employed 767 people. It raised its export ratio sharply to 36.8% (2004: 25.8%) as part of its strategy of internationalization. 

Further details of the 2005 financial year can be found in the latest corporate presentation under the Investor Relations section on Q-Cells AG's website at www.q-cells.com.