DGAP-Adhoc: Phoenix Solar AG: Board of Directors revises EBIT guidance for 2009

Phoenix Solar Aktiengesellschaft / Change in Forecast

25.06.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Phoenix Solar AG: Board of Directors revises EBIT guidance for 2009

Sulzemoos 25 June 2009 / The Board of Directors of Phoenix Solar AG
(ISINDE000A0BVU93) no longer assumes that the EBIT guidance of
approximately EUR 31 million published in January 2009 for the financial
year 2009 can be achieved.

The reason for this assessment is the continuing decline in prices
particularly for solar modules, resulting in downward pressure on margins,
buying resistance on the part of customers, and an increased devaluation
requirement for current inventories.

Until now, based on various signals, the Board of Directors had expected
that price declines had reached their lowest point and that earning
situation would recover. These expectations were not confirmed.

The Board of Directors expects a positive EBIT for the financial year 2009,
but will only release a detailed EBIT guidance when the current development
in prices has stabilised, enabling a more precise estimate of the trend in
earnings.

Based on revenues to date, the Board of Directors maintains its revenue
guidance of around EUR 520 million.


This is an English translation of the German original. In the event of any
doubt, the German version shall prevail.

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Information and Explaination of the Issuer to this News:

Disclaimer
The content of this press release is solely for information purposes and is
not intended to constitute a recommendation for investment or a
solicitation to subscribe or an offer to buy or sell securities of the
company.  Phoenix Solar AG shall undertake no liability whatsoever for any
loss in connection with this press release or the information made
available.  This also applies particularly to any eventual loss in
connection with the shares of Phoenix Solar AG.

This document contains forward-looking statements on future developments
which are based on management's current assessment. Words such as
'anticipate', 'assume', 'believe', 'estimate', 'expect', 'intend',
'can/could', 'plan', 'project', 'forecast', 'should', and similar terms are
indicative of such forward-looking statements.  Such statements are subject
to certain risks and uncertainties which are mainly outside the sphere of
influence of Phoenix Solar AG, but which have an impact on the business
activities, the success, the business strategy and the results. These risks
and factors of uncertainty include, for instance, climatic change, changes
in the state subsidisation of photovoltaics, the introduction of competitor
products or technologies of other companies, the development of the planned
internationalisation of business activities, fierce competition as well as
rapid technological change in the photovoltaic market.  If one of these or
other factors of uncertainty or risks should occur, or if the assumptions
underlying the statements should prove incorrect, the actual results may
diverge substantially from the results in these statements or implicit
indications. Phoenix Solar AG does not have the intention nor will it
undertake any obligation to realise forward-looking statements on an
ongoing basis or at a later point in time as this is entirely dependent on
circumstances prevailing on the day of their release.

In some countries, especially in the United States of America, the
dissemination of this press release and the information contained therein
may be restricted or prohibited under the law. This press release is
therefore expressly not intended for persons resident in the United States
of America or any other legal system under which such an offer or
solicitation is not permissible, or for persons for whom such an offer or
invitation would constitute a breach of the law.

Contact:
Phoenix Solar AG
Investor Relations
Hirschbergstraße 8
D-85254 Sulzemoos

Tel.: +49 (0) 8135 938-315
Fax: +49 (0) 8135 938-399
ir@phoenixsolar.de
www.phoenixsolar.de

Amtsgericht München HRB 129117
Ust-ID Nr. DE 812868419


DGAP 25.06.2009 
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Language:     English
Issuer:       Phoenix Solar Aktiengesellschaft
              Hirschbergstraße 8
              85254 Sulzemoos
              Deutschland
Phone:        +49 (0)8135-938-000
Fax:          +49 (0)8135-938-099
E-mail:       kontakt@phoenixsolar.de
Internet:     http://www.phoenixsolar.de
ISIN:         DE000A0BVU93
WKN:          A0BVU9
Indices:      TecDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hannover, Hamburg, Düsseldorf, München, Stuttgart
 
End of News                                     DGAP News-Service
 
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