Ad-hoc | 11 November 2006 00:36
Reinecke + Pohl Sun Energy AG: Preliminary Figures Q3 and Change in Executive Board
Ad hoc announcement transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
Hamburg, 10.11.06. Reinecke + Pohl Sun Energy AG has achieved a turnover of
38,8 m. euros in the first three quarters of the current business year. The
company specialized in turnkey solar plants remains below its own planning.
With a result of -3,8 m. euros, the company could not realize a positive
ebit in the first nine months until 30 September 2006. Reasons for the
lower than expected results are in particular the declining demand for
crystalline modules, an inflated cost structure and write-offs on projects.
The auditing company Ernst & Young mandated by the Executive Board has
assessed that irregularities occurred in the second quarter 2006. Firstly,
a turnover of 1.7 m. euros has been entered, although the corresponding
orders had not been placed. Due to accounting errors, other turnover of
3.2 m. euros shown so far has to be corrected.
Against the background of the unsatisfactory turnover and yield situation,
the Speaker of the Executive Board, Mr Martin Schulz-Colmant, has resigned
from office with immediate effect by mutual consent with the Supervisory
Board. At the same time, Mr Thorsten Preugschas, Manager of the RPSE
subsidiary Maaß Regenerative Energien GmbH, Wesel, has been appointed
member of the Executive Board of the company.
Based on the new planning, the Executive Board now estimates a turnover of
58,1 m. euros and an ebit of -3,8 m. euros for the business year 2006. The
Executive Board has set up a restructuring programme, which will be
implemented shortly. Therefore, the company expects a positive result for
the following business year.
(c)DGAP 11.11.2006
—————————————————————————
Language: English
Issuer: Reinecke + Pohl Sun Energy AG
Große Elbstraße 45
22767 Hamburg Deutschland
Phone: +49(0)40696528-134
Fax: +49(0)40696528-159
E-mail: kostorz@rpse.de
WWW: www.rpse.de
ISIN: DE0005250708
WKN: 525070
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin-Bremen, Stuttgart, München
End of News DGAP News-Service
—————————————————————————