PHOTON: Photon Energy revises it full-year 2009 projections

The management board of Photon Energy on 18 November announces a revision of its financial projections for the full-year 2009 as follows:

Previous projections

Installed capacity 5.5 MWp
Revenues CZK 792 million
Net profit CZK 68 million
EPS CZK 2.96

New projections

Installed capacity 3.6 MWp
Revenues CZK 510 million
Net profit CZK 68 million
EPS CZK 2.96

Due to a shift of PV projects previously planned for construction in 2009Q4 the company will install 1.9 MWp less than originally planned and projects revenues approximately 35% lower. Most importantly, Photon Energy reconfirms its net profit projection of CZK 68 million for the full-year 2009. A combination of the company's cost control, favourable market conditions and a strong performance by Photon Trading enable the company to increase its margins above forecast levels.

The PV projects subject to delay are scheduled to be built in 2010 Q1.

Please add Legal basis: § 3 ust.1. of the Appendix 1 to Resolution No. 363/2009 of the Warsaw Stock Exchange Management Board dated 27 July 2009 "Current and Periodical Information in the Alternative Trading System".

Osoby reprezentujące spółkę:

• Michal Gartner - Chairman of the Board of Directors
• Georg Hotar - Vice-chairman of the Board of Directors