DGAP-News: S.A.G. Solarstrom AG: S.A.G. Solarstrom AG issues corporate bond to accelerate growth
(firmenpresse) - S.A.G. Solarstrom AG / Key word(s): Issue of Debt
22.11.2010 07:48
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Corporate News
S.A.G. Solarstrom AG issues corporate bond to accelerate growth
- Bond interest rate: 6.25 % p.a., term 5 years
- Targeted issuing volume up to EUR50 million
- Creditreform rating: Investment Grade (BBB+)
- Bond serves to accelerate growth and increase margin
Freiburg, November 22, 2010. S.A.G. Solarstrom AG (German security
identification number (WKN): 702 100, ISIN: DE0007021008), Freiburg,
manufacturer-independent provider of all services for the construction and
operation of photovoltaic systems, is issuing a corporate bond. The 'solar
electricity security' is endowed with a fixed interest rate of 6.25 % p.a.
and a term of 5 years. The volume is up to EUR50 million. With the proceeds
of the bond, the Group plans to implement their well-filled order pipeline
for constructing photovoltaic installations in Europe more quickly, and at
the same time reduce project financing costs.
'Our bond will enable investors to place their money in the sunrise
industry of renewable energy and to achieve attractive returns', says Dr.
Karl Kuhlmann, CEO of S.A.G. Solarstrom AG. 'For us, it provides the
opportunity to once again accelerate our growth.' The S.A.G. Group has
impressively underpinned their growth targets with the results of the first
nine months of 2010. The operating profit (EBIT) tripled in comparison with
the same period in the previous year and rose to EUR7.5 million. Sales
expanded significantly by 82.5% to EUR139.5 million. The Group is
anticipating sales of between EUR190 and EUR210 million and an EBIT of
between EUR8 and EUR11 million for the whole year. The high degree of
solidity and economic power of S.A.G. Solarstrom AG is also confirmed by
the Creditreform's current rating with an Investment Grade (BBB+).
The subscription period of the S.A.G. bond runs from November 25, 2010 to
December 3, 2010. Issue will be supported by youmex Invest AG, Frankfurt am
Main, as the lead manager. The Baader Bank AG will function as co-lead
manager, while the banking houses Donner&Reuschel AG and Lampe KG are
selling agents. Private investors will be able to subscribe to the bond via
the company directly (www.solarstromag.com) as well as via numerous direct
banks. S.A.G. Solarstrom AG has set up an information center for interested
subscribers. The base prospectus approved by the BaFin on November 19, 2010
as well as the Final Terms and Conditions of the Bond published today,
together with phone numbers and service times of the information center for
answering any questions can be called up at www.solarstromag.com/Anleihe.
Competitive advantage: covering the entire value chain
S.A.G. Solarstrom AG covers the entire lifecycle of photovoltaic
installations with their comprehensive scope of services - from planning to
operation and repowering or the deconstruction of installations. The Group
benefits from this unique expertise in their project business, but also in
their planned expansion of the high-margin Service area and the operation
of their own solar power plants. The Service area will be covered by their
subsidiary meteocontrol GmbH, a global market leader in the monitoring of
photovoltaic systems, with 16,000 installations and a capacity of 1.9 GWp
worldwide. The subsidiary is benefiting from the increasing demand for
professional monitoring and forecasting services worldwide, which is
growing in proportion to the installed power. In their own operations, the
S.A.G. Group only recently expanded their own power plant portfolio to a
capacity of 18.6 MWp in total.
Large order pipeline in Germany and the rest of Europe
S.A.G. Solarstrom AG pressed ahead with internationalization early on. They
are reaping the benefits now. The Group is currently focusing on the
emerging photovoltaic markets in France and Italy, where the Executive
Board is anticipating strong project business. Specifically, medium-sized
roof-top projects are to be implemented in France and a large-scale
installation project with 48 MWp in Northern Italy. In addition, the S.A.G.
Group is also expecting continued attractive revenue potential in Germany,
in particular in the roof-top installation and Service segments.
Bond will reduce costs of financing and increase profit margin
'Complex project funding has been the biggest hindrance to the expansion of
our business to date. The bond will enable us to accelerate our growth
significantly, at the same time reducing our costs of financing ', says Dr.
Karl Kuhlmann. Based on the positive effects of the bond, S.A.G. Solarstrom
AG is aiming for a medium-term increase in the EBIT margin to more than
10%.
Basic information on the corporate bond
Issuing volume: Up to EUR50,000,000
Subscription period: November 25, 2010 to December 3, 2010
Term: 12/15/2010 to 12/14/2015 (5 years)
Interest coupon: 6.25% p.a.
Interest payment: Annually, on 12/14 of the respective year
Denomination: EUR1,000.00
Minimum investment: EUR5,000.00
WKN/ISIN: A1E 84A/DE000A1E84A4
Type of security: Bearer partial debenture
Repayment price: 100%
Rating: BBB+ (Creditreform)
Stock exchange listing: Frankfurt Stock Exchange
Download the legally applicable sales prospectus at www.solarstromag.com
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN:
DE0007021008) of Freiburg i.Br., Germany, are 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 produce solar energy at
their 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 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 are considered pioneers in the solar
industry. Around 175 specialists work at the four locations in Germany and
the foreign subsidiaries.
S.A.G. Solarstrom AG are listed in the General Standard of the Frankfurt
Stock Exchange as well as according to the rules and standards M:access of
the Munich Stock Exchange.
Further information: www.solarstromag.com
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Contact:
Free information hotline on bond: 0800/880 11 35
E-Mail: anleihe(at)solarstromag.com
Contact:
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com
Investor Relations
Jutta Lorberg
phone: +49-(0)761-4770-311
Armin Baltzer
phone: +49-(0)761-4770-368
e-mail: ir(at)solarstromag.com
Public Relations
Fabian Lorenz
Tel.: +49-(0)151-40016085
E-Mail: fabian.lorenz(at)ir-on.com
22.11.2010 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,
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Language: English
Company: S.A.G. Solarstrom AG
Sasbacher Str. 5
79111 Freiburg
Deutschland
Phone: + 49 761 4770 0
Fax: + 49 761 4770 555
E-mail: mail(at)solarstromag.com
Internet: www.solarstromag.com
ISIN: DE0007021008
WKN: 702100
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Hamburg, München (m:access), Düsseldorf,
Berlin, Stuttgart
End of Announcement DGAP News-Service
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Datum: 22.11.2010 - 07:48 Uhr
Sprache: Deutsch
News-ID 32686
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