S.A.G. Solarstrom AG: All set for the post-feed-in tariff era
DGAP-News: S.A.G. Solarstrom AG / Key word(s): AGM/EGM
S.A.G. Solarstrom AG: All set for the post-feed-in tariff era
25.05.2012 / 16:46
---------------------------------------------------------------------
S.A.G. Solarstrom AG: All set for the post-feed-in tariff era
Annual General Meeting decides on dividend of 12.5 Eurocents
Freiburg, May 25, 2012. With the results of its vote, the Annual General
Meeting of S.A.G. Solarstrom AG (German security identification number: 702
100, ISIN: DE0007021008) on May 24, 2011 very clearly expressed its trust
in the business policy of the Executive and Supervisory Boards. A dividend
of 12.5 Eurocents was decided on for fiscal year 2011. Shareholders will
thus profit, despite the difficult market environment, from the stable
development of the S.A.G. Solarstrom Group, which has been distributing a
dividend since 2010. The committee also passed, with a large majority,
anticipatory resolutions for possible increases in capital, convertible and
warrant bonds or profit-sharing rights, as well as for the repurchase of
own shares, and consented to a new compensation for the Supervisory Board.
In 2011, S.A.G. Solarstrom AG was one of the few companies in the solar
industry that was able to disclose a positive EBIT result. At the Annual
General Meeting, CEO Dr. Karl Kuhlmann once again emphasized that S.A.G.
Solarstrom AG is strongly positioned through its four pillar business model
and is able to withstand the challenges of a market with dramatically
declining feed-in tariffs.
In the first quarter of 2012, the Group was able to more than triple the
installation volume in the business area Project Planning and Plant
Construction in comparison with the previous year's quarter - adjusted for
the special effects of the major Serenissima project - and thus increase
sales in this business area by 64.7%. The business area Partner Sales was
also able to more than double the installation volume, and despite the
considerable decline in prices for components and systems on the market,
achieve an increase in sales of 43.4%. In the two business areas Plant
Operation and Services, and in Power Production, considerable increases in
sales were recorded in comparison with the same quarter in the previous
year.
Kuhlmann outlined the cost cutting program Slim 2012, the planned
continuation of international expansion and initial pilot projects in
Germany and abroad without feed-in tariffs, in which electricity from
photovoltaic power can already prove itself in the competition with
conventional electricity. 'If policies follow this development with a sense
of proportion, the phase-out of the feed-in tariff will be potentially
foreseeable'.
The Annual General Meeting rewarded the successful work of the Executive
and Supervisory Boards, despite a very difficult market environment, with a
high level of consent in the voting results. The dividend proposal of 12.5
Eurocents was accepted by more than 99% of the voting capital in
attendance, and the actions of both Boards were approved for fiscal year
2011. The auditing firm BDO AG, Freiburg i. Br. was elected as the annual
auditor for fiscal year 2012. The Annual General Meeting also approved a
new remuneration system for the Supervisory Board, which allows for a
higher basic remuneration and a change to the assessment base for variable
remuneration elements.
The Annual General Meeting once again authorized the company to acquire its
own shares of up to 10% of the capital stock. This new empowerment will
apply until May 23, 2017. The authorized capital for optional
implementation of increases to capital has been raised by almost EUR1.8
million to a total of EUR16,779,200. In addition, the Annual General
Meeting consented to create new authorized capital in the amount of
EUR8,908,800 for issuing convertible and/or warrant bonds or profit-sharing
rights.
'This mark of confidence by the Annual General Meeting demonstrates that we
are on the right track with our work. We are convinced that S.A.G.
Solarstrom AG will not only master the consolidation phase of the solar
industry but will also emerge from it stronger than before', says Kuhlmann
in conclusion.
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN:
DE0007021008) of Freiburg i.Br., Germany, is a manufacturer-independent
provider of high-quality photovoltaic plants configured to customers'
individual needs. The Group constructs efficient plants of all sizes both
in Germany and abroad. S.A.G. Solarstrom AG also produces solar energy at
its own plants.
S.A.G. Solarstrom AG's service portfolio covers the entire life cycle of
photovoltaic plants, including forecast and energy services, yield reports,
and remote service and maintenance, as well as insurance and financing. The
Group thus offers a comprehensive value chain in photovoltaics, from yield
reports, planning, construction, operations, and monitoring to
optimization, repowering, and deconstruction.
Founded in 1998, S.A.G. Solarstrom AG is considered a pioneer in the solar
industry. Around 230 specialists work at the four locations in Germany and
the foreign subsidiaries.
S.A.G. Solarstrom AG is listed in the Prime Standard of the Frankfurt Stock
Exchange as well as according to the m:access rules and standards of the
Munich Stock Exchange.
Further information: www.solarstromag.com
Contact:
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com
Public Relations / Investor Relations
Jutta Lorberg
phone: +49-(0)761-4770-311
e-mail: pr@solarstromag.com / ir@solarstromag.com
End of Corporate News
---------------------------------------------------------------------
25.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: S.A.G. Solarstrom AG
Sasbacher Str. 5
79111 Freiburg
Germany
Phone: + 49 761 4770 0
Fax: + 49 761 4770 555
E-mail: mail@solarstromag.com
Internet: www.solarstromag.com
ISIN: DE0007021008
WKN: 702100
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
171625 25.05.2012
DGAP-News: S.A.G. Solarstrom AG / Key word(s): AGM/EGM
S.A.G. Solarstrom AG: All set for the post-feed-in tariff era
25.05.2012 / 16:46
---------------------------------------------------------------------
S.A.G. Solarstrom AG: All set for the post-feed-in tariff era
Annual General Meeting decides on dividend of 12.5 Eurocents
Freiburg, May 25, 2012. With the results of its vote, the Annual General
Meeting of S.A.G. Solarstrom AG (German security identification number: 702
100, ISIN: DE0007021008) on May 24, 2011 very clearly expressed its trust
in the business policy of the Executive and Supervisory Boards. A dividend
of 12.5 Eurocents was decided on for fiscal year 2011. Shareholders will
thus profit, despite the difficult market environment, from the stable
development of the S.A.G. Solarstrom Group, which has been distributing a
dividend since 2010. The committee also passed, with a large majority,
anticipatory resolutions for possible increases in capital, convertible and
warrant bonds or profit-sharing rights, as well as for the repurchase of
own shares, and consented to a new compensation for the Supervisory Board.
In 2011, S.A.G. Solarstrom AG was one of the few companies in the solar
industry that was able to disclose a positive EBIT result. At the Annual
General Meeting, CEO Dr. Karl Kuhlmann once again emphasized that S.A.G.
Solarstrom AG is strongly positioned through its four pillar business model
and is able to withstand the challenges of a market with dramatically
declining feed-in tariffs.
In the first quarter of 2012, the Group was able to more than triple the
installation volume in the business area Project Planning and Plant
Construction in comparison with the previous year's quarter - adjusted for
the special effects of the major Serenissima project - and thus increase
sales in this business area by 64.7%. The business area Partner Sales was
also able to more than double the installation volume, and despite the
considerable decline in prices for components and systems on the market,
achieve an increase in sales of 43.4%. In the two business areas Plant
Operation and Services, and in Power Production, considerable increases in
sales were recorded in comparison with the same quarter in the previous
year.
Kuhlmann outlined the cost cutting program Slim 2012, the planned
continuation of international expansion and initial pilot projects in
Germany and abroad without feed-in tariffs, in which electricity from
photovoltaic power can already prove itself in the competition with
conventional electricity. 'If policies follow this development with a sense
of proportion, the phase-out of the feed-in tariff will be potentially
foreseeable'.
The Annual General Meeting rewarded the successful work of the Executive
and Supervisory Boards, despite a very difficult market environment, with a
high level of consent in the voting results. The dividend proposal of 12.5
Eurocents was accepted by more than 99% of the voting capital in
attendance, and the actions of both Boards were approved for fiscal year
2011. The auditing firm BDO AG, Freiburg i. Br. was elected as the annual
auditor for fiscal year 2012. The Annual General Meeting also approved a
new remuneration system for the Supervisory Board, which allows for a
higher basic remuneration and a change to the assessment base for variable
remuneration elements.
The Annual General Meeting once again authorized the company to acquire its
own shares of up to 10% of the capital stock. This new empowerment will
apply until May 23, 2017. The authorized capital for optional
implementation of increases to capital has been raised by almost EUR1.8
million to a total of EUR16,779,200. In addition, the Annual General
Meeting consented to create new authorized capital in the amount of
EUR8,908,800 for issuing convertible and/or warrant bonds or profit-sharing
rights.
'This mark of confidence by the Annual General Meeting demonstrates that we
are on the right track with our work. We are convinced that S.A.G.
Solarstrom AG will not only master the consolidation phase of the solar
industry but will also emerge from it stronger than before', says Kuhlmann
in conclusion.
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN:
DE0007021008) of Freiburg i.Br., Germany, is a manufacturer-independent
provider of high-quality photovoltaic plants configured to customers'
individual needs. The Group constructs efficient plants of all sizes both
in Germany and abroad. S.A.G. Solarstrom AG also produces solar energy at
its own plants.
S.A.G. Solarstrom AG's service portfolio covers the entire life cycle of
photovoltaic plants, including forecast and energy services, yield reports,
and remote service and maintenance, as well as insurance and financing. The
Group thus offers a comprehensive value chain in photovoltaics, from yield
reports, planning, construction, operations, and monitoring to
optimization, repowering, and deconstruction.
Founded in 1998, S.A.G. Solarstrom AG is considered a pioneer in the solar
industry. Around 230 specialists work at the four locations in Germany and
the foreign subsidiaries.
S.A.G. Solarstrom AG is listed in the Prime Standard of the Frankfurt Stock
Exchange as well as according to the m:access rules and standards of the
Munich Stock Exchange.
Further information: www.solarstromag.com
Contact:
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com
Public Relations / Investor Relations
Jutta Lorberg
phone: +49-(0)761-4770-311
e-mail: pr@solarstromag.com / ir@solarstromag.com
End of Corporate News
---------------------------------------------------------------------
25.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: S.A.G. Solarstrom AG
Sasbacher Str. 5
79111 Freiburg
Germany
Phone: + 49 761 4770 0
Fax: + 49 761 4770 555
E-mail: mail@solarstromag.com
Internet: www.solarstromag.com
ISIN: DE0007021008
WKN: 702100
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
171625 25.05.2012