Ad hoc: Q-Cells SE: Q-Cells SE: Reorganisation successfully advanced during third quarter
(Thomson Reuters ONE) - Q-Cells SE / Interim report / Ad hoc: Q-Cells SE: Reorganisation successfully advanced during third quarter Ad hoc announcement according to §15 WpHG processed and transmitted by Hugin. The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------- Increase in revenues of 30% due to strong sales of cells- Significant milestones achieved in implementing set of measures- High reorganisation costs affect operating income for the quarter;adjusted operating income stabilisedBitterfeld-Wolfen, 12 November 2009 - Q-Cells SE (QCE; ISINDE0005558662) has published its report as of 30 September 2009containing information on the implementation of the Q-Cells Reloadedreorganisation programme. The volume of cells sold to externalcustomers rose by 87% to 103 MWp compared with the previous quarter.A further volume of 21 MWp was delivered to the company's own Q-CellsInternational project business. The total production volume in thethird quarter was 119.4 MWp (Q2: 117.8 MWp).Including project business, Group-wide sales revenues of 184.1million Euro were achieved. This corresponds to a 30% increasecompared with the second quarter (141.4 million Euro). The figure forthe first nine months of 2009 is therefore 550.3 million Euro (2008:931.9 million Euro). The sharp decline in sales year-on-year ismainly caused by the drastic fall in prices on the internationalmarket for solar cells and is reflected accordingly in the operatingincome of Q-Cells SE.The Q-Cells Reloaded set of measures announced in August is beingimplemented according to plan. The purpose of these measures is topush forward the reorganisation of Q-Cells under the new marketconditions. The first important results have already been achieved:the company reached an agreement with the works council on reducingthe workforce as of December 2009. In accordance with the agreement,the workforce is to be reduced in total by up to 500 employees inproduction and administration. In order to ensure sociallyresponsible implementation, a transfer company, a hardship fund andan employee severance package have been agreed.Adjusted operating income excluding New Technologies (-8.0 millionEuro) amounted to 3.3 million Euro (previous quarter: 10.7 millionEuro). As a result, adjusted income was stabilised in the thirdquarter despite the further fall in prices. During the past quarter,non-recurring costs and special effects connected with the ongoingreorganisation considerably impacted the reported EBIT. Without thesespecial effects, which include costs for the closure of the olderproduction lines at the Thalheim location, reorganisation costs forthe planned workforce reduction as well as impairment losses oninventories and investments, Group EBIT amounted to -4.7 million Euro(Q2: 1.8 million Euro). Taking into account all non-recurring andspecial effects, the company is reporting EBIT of -163.8 million Euro(Q2: -62.3 million Euro). The corresponding result is -248.2 millionEuro (Q2: -305.0 million Euro) for the third quarter and -945.1million Euro for the first nine months of the year.Significant costs in connection with the reorganisation wererecognised in the income statement in the third quarter. The firstoperating successes of this medium-term programme are expected fromthe first quarter of 2010 onwards.The report as of 30 September 2009 and a current company presentationare available for download in the Investor Relations section of theQ-Cells SE's website (www.q-cells.com).Contact information:Q-Cells SEOT ThalheimSonnenallee 17 - 2106766 Bitterfeld-Wolfen, Germanywww.q-cells.comInvestor Relations:Stefan LissnerPhone: +49 - (0)3494 - 6699 10101investor(at)q-cells.comCorporate Communications:Ina von SpiesPhone: +49 - (0)3494 - 6699 10121presse(at)q-cells.comhttp://hugin.info/136506/R/1354457/328437.pdfhttp://hugin.info/136506/R/1354457/328438.pdf --- End of Message ---Q-Cells SE OT Thalheim, Sonnenallee 17-21 Bitterfeld-Wolfen GermanyWKN: 555866; ISIN: DE0005558662; Index: CDAX, GEX, Prime All Share, TecDAX;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Börse Stuttgart, Regulierter Markt in Frankfurter Wertpapierbörse;
Datum: 12.11.2009 - 07:00 Uhr
Sprache: Deutsch
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