Solaria Amounts In 2010 A Net Result Of 6 5 Millions And 18 Million Ebitda 44 Growth | Solaria

         Total sales amounted €161.3 million, an 81% increase compared to the same period of 2009.

         The net cash-flow reached €15.6 million, which represents a 74% increased compared to last financial year results.

         In 2010 the company has added 26 MWp to its generation portfolio, increasing  grid-connected power by 118% compared to last year

Madrid, 23 February 2011.- Solaria Energia y Medio Ambiente, the only Spanish solar company listed in the stock exchange has released its financial results for the full year of 2010 confirming its solid figures showed during the year and the company strength within the sector.

In 2010 Solaria presented consistent figures that demonstrated the viability of photovoltaic industry and the positive environment to face 2011. During this year sales figures reached over 161.3 million Euros, which represents 271% increased compared to the same period of 2009, 81% more including non-recurring sales of two plants  built in 2008.

One of the most significant facts derived from the figures reported is related to the company’s internationalization ratio which has significantly increased to the 77% of the company’s sales,   confirming the business model adopted by Solaria in the last year. While the domestic sector showed a lack of opportunities, Solaria decided to grow in the international market counting with presence in Germany, Italy, France, UK, Chezk Republic, Greece and Latin-America.

Per division, sales mix in 2010 was 67% in PV modules, 24% in projects and 9% in generation, operation and maintenance.

According to the balance sheet figures, Solaria registered €18 million Ebidta, a 44% increase compared to 2009. On the other hand, Ebit stands at €8.9 million while the net profit is €6.5 million, a 166% higher than in 2009. These positive figures gain a greater value when considering the uncertainty lived through last year about the regulation in the sector nationwide, which made major impact in the sector prospects and the quotation in the stock market of all the solar sector companies.

This dimension, besides highlighting significant increases compared to 2009, reflects the delivery and completion of the projects in the last quarter of the fiscal year, showing once again a very favorable evolution period to Solaria.

It is also worth highlighting that, as part of the results presented, in May 2010 the temporal workforce restructuring schemes were cancelled in the Puertollano and Fuenmayor factories, and all the employees have resumed their normal work, reaching the number of 900 total employees.

2011 Forecasts

The results recently submitted confirm the strength of the firm and enables to forecast a positive 2011 not only in general figures but also in the Solaria commercial expansion, currently assuming a pipeline above 200 MW as a consequence of its presence and development at international level.

At present, offers for the two plants in which Solaria participates in a 50% in Italy are being received and is expected to be sold in the course of 2011 fiscal year. In addition, two new projects have started: a plant of 3 MW in Brazil and the construction of a new plant of 8,5 MW in Italy.

Lastly, it has also to be pointed out that within the last months the access to the funding through Project Finance has considerably improved, financing six plants under different structures, and it is expected to close additional finance agreements in 2011.

Solaria will continue in 2011 the already started internationalization process, increasing its presence in those markets in which is already operating and raising new markets in the American continent, United Kingdom and Israel.

About Solaria

Solaria Energía y Medio Ambiente designs, manufactures, installs and distributes photovoltaic and thermal solutions for benefiting from solar energy. Its fast-paced expansion and technology innovation have placed it in very few years as amongst the leading companies in the renewables industry. Solaria’s privileged position in the market reflects an ongoing search for innovation that has been achieved through a dynamic organization, a solid financial structure and an efficient distribution, marketing and sales network.