Dr. Karl Kuhlmann

CEO of S.A.G. Solarstrom AG

"After the issue of our second corporate
bond, placed by youmex, we are able to
strengthen our financial base even more
and accelerate the sustainable growth
course of our core business areas with a
solid foundation."

youmex as Lead Manager of the S.A.G. Solarstrom AG Corporate Bond

22.11.2010

S.A.G. Solarstrom AG (WKN: 702 100, ISIN: DE0007021008), Freiburg, a vendor independent supplier of services for the construction and operation of photovoltaic power plants, will issue a corporate bond. The "Solarstrom-Wertpapier" bond carries a fixed interest rate of 6.25 % p.a. and has a maturity of five years. The volume amounts to up to EUR 50 million. The Group's aim is to use the proceeds for a swifter implementation of their European photovoltaic power plant orders on hand for while reducing the project financing costs.

"With our bond, investors can invest in renewable energy, a sector of the future, and achieve attractive returns", says Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG. "With this bond, we have the opportunity to further accelerate our growth."

With the results of the first nine months in 2010, the S.A.G. Group has underpinned its growth targets in an impressive way. The operating result (EBIT) increased threefold compared to the same period last year, rising to 7.5 million. Sales grew by an impressive 82.5 % to EUR 139.5 million. The Group expects sales of EUR 190 - 210 million and an EBIT of EUR 8 - 11 million for the full year. The latest BBB+ Investment Grade rating given by Creditreform confirms S.A.G. Solarstrom AG’s high degree of solidity and economic strength.

The subscription period of the S.A.G. bond runs from 25th of November to 3rd of December 2010.
youmex Invest AG, Frankfurt am Main, supports the issue as Lead Manager. Baader Bank AG is the Co-Lead Manager. Selling Agents are Bankhaus Donner & Reuschel AG and Bankhaus Lampe KG: Private investors can subscribe the bond directly through the company (www.solarstromag.com) or via several direct banks. S.A.G. Solarstrom AG set up an information centre for potential subscribers. In case of questions please refer to www.solarstrom.com/Anleihe, where you will find the Base Prospectus approved by BaFin (German Financial Supervisory Authority) on 19th of November 2010, the final bond conditions published today and the telephone numbers and opening hours of the information centre.

Competitive advantage: Coverage of the entire value chain

Based on its comprehensive range of products, S.A.G. Solarstrom AG provides the entire cycle of photovoltaic systems, which includes the design, operation, repowering or dismantling of plants. The Group benefits not only from this unique expertise in the field of project businesses, but also with regard to the planned expansion of the high-margin service field and its own solar power plant operations. The service unit is covered by the meteocontrol GmbH subsidiary, the global market leader for supervision of photovoltaic systems, which runs 16,000 plants worldwide with an output of 1.9 GWp. The subsidiary benefits from the increasing global demand for professional supervision and forecast services, which is rising in proportion to the installed output.
The S.A.G. Group recently increased its existing power plants to an output of 18.6 MWp in total.

Large order pipeline in German and Europe

S.A.G. Solarstrom AG pushed internationalisation early. Now they can benefit from this. The Group is currently focussed on the upcoming photovoltaic markets France and Italy. The Managements Board expects strong project business operations for these countries. Specifically, medium-sized roof-mounted projects will be implemented in France, and a large-scale 48 MWp project will be carried out in Italy. The S.A.G. Group also sees attractive revenue opportunities in Germany, especially in the roof-mounted and service sector.

Bond reduces financing costs and increases profit margin

"So far, complex project financing schemes turned out to be the largest obstacle for the expansion of our business. With this bond, we will be able to accelerate our growth significantly, and even lower our financing costs", says Dr. Karl Kuhlmann. Based on these positive effects, S.A.G. Solarstrom AG pursues a medium-term EBIT margin increase of more than 10 %.

Key data on the bond

Issue volume: up to € 50,000,000
Subscription period: 25th of November to 3rd of December 2010
Term: 15.12.2010 to 14.12.2015 (5 years)
Interest coupon: 6.25 % p.a.
Interest payment: annually on 14.12.
Denomination: € 1,000.00
Minimum investment: 5,000.00 €
WKN/ISIN: A1E 84A/DE000A1E84A4
Type of security: Partial bearer bond
Redemption price: 100%
Rating: BBB+ (Creditreform)
Listing: Frankfurt Stock Exchange
Legal Prospectus available for download: www.solarstromag.com

 

Ansprechpartner

  • Kai Hartmann

    Owner of
    youmex group

    +49 69 505045 333
    +49 1 77 20 97 333
    +49 69 505045 200
    kh(at)youmex.de

  • Stefan Stoehr

    CEO of
    youmex group

    +49 69 505045 000
    +49 160 3677972
    +49 69 505045 200
    sts(at)youmex.de

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