Phoenix Solar AG below revenue and earnings forecast for 2016

2016 revenue forecast lowered by approx. 50 million Euro: now expected to reach 135 million Euro to 150 million Euro due to delay of two large projects
Those revenues are now expected to come in in the course of the 2017 financial year rather than in the fourth quarter of 2016
Operating result (EBIT) will be in a range of between 0,5 million Euro and 2 million Euro
Sulzemoos, November 8th, 2016 / Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic system integrator listed on the official market (Prime Standard) of the Frankfurt Stock Exchange, will achieve revenues between 135 million Euro and 150 million Euro for the fiscal year 2016, approximately 50 million Euro lower than expected in the previously published guidance, which indicated a range of 180 million Euro to 210 million Euro (2015: 119.4 million Euro). This correction became necessary because of delays on the customers’ side of large projects in the USA and Turkey. Those revenues are now expected to be realized in the course of the 2017 financial year rather than in the fourth quarter of 2016.

As a result of this, the Company now expects the operating result (EBIT) to come in in a range of between 0,5 million Euro and 2 million Euro (previously: 2 to 4 million Euro; 2015: -1,6 million Euro).