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21.11.2005 00:00

Q-Cells AG publishes Third Quarter 2005 Report

Sales + 133 %, net income + 227 %


Thalheim, November 21, 2005 – Q-Cells AG (QCE; WKN 555866), the European market leader and world’s largest group-independent solar cell producer, continued on its growth course, increasing production for the first nine months of 2005 by 132% to 110.7 megawatt peaks (MWp) from 47.8 MWp a year earlier. Sales rose accordingly, increasing 133% to EUR 196.9 million from EUR 84.6 million in the prior-year period. Earnings before interest and tax (EBIT) and net income grew even more than sales, increasing 227% to EUR 40.3 million from EUR 12.3 million a year earlier and to EUR 25.3 million from EUR 7.8 million a year earlier, respectively. Operating cash flow increased from EUR 2.8 million to EUR 13.2 million in the first nine months of the year.

The Company had an annual nominal capacity of 271 MWp at its Thalheim location and employed 731 people as of the end of the third quarter of 2005. Expansion of production capacities proceeded as planned in our core business and our shareholdings. The annual nominal capacity for the core business is expected to be expanded to 350 MWp by mid 2006. For 2005 as a whole, Q-Cells anticipates sales of nearly EUR 290 million and net income of approx. EUR 37 million. The full report as of September 30, 2005 is available on the homepage of Q-Cells AG at www.q-cells.com (Investor Relations).