Q-Cells

Q-Cells is to hold a ceremony today to hand over two solar energy systems with a total capacity of 11 MWp to the Berlin-based MCG Management Capital Group. Construction of the solar park located near Berolzheim (Baden-Württemberg, Germany) began in February 2010. The park consists of two separate areas, one covering 9 hectares with a capacity of 4.6 MWp, the second covering 11 hectares with a capacity of 6.4 MWp. Approximately 50,000 crystalline solar modules have been installed here, which can supply 3,500 households with energy, thus saving some 10,000 tonnes of CO2 every year.

The Annual General Meeting of Q-Cells SE (QCE; ISIN DE0005558662) today approved all the items on the agenda with a substantial majority.

The company will not pay a dividend for the year 2009 following a loss for the year. It is expected to return to a positive EBIT in the second quarter of the current year and given the strong market outlook is confident to also record a positive EBIT for the first half year as a whole.

Q-Cells, the world's fourth-largest maker of solar cells, has been suffering greatly from the industry's crisis but recent analyst upgrades suggest that there could be cash to reap from its beaten shares.

The company's stock has dropped about 47 percent so far this year, performing worse than peers such as First Solar and Suntech, but some analysts have abandoned their long-term "sell" stance on the stock.

Karlheinz Hornung stands for election at the general meeting

Q-Cells SE and Innotech Solar (ITS) today announced that they have entered into a long-term strategic partnership. Under the scope of this agreement, Q-Cells SE will sell all of its non-prime solar cells to ITS for conversion into PV solutions worldwide under the ITS brand name.

Q-Cells SE is a leading photovoltaics company providing solar cells, modules and PV systems. Q-Cells is one of the largest cell manufacturers worldwide, providing the highest quality, most efficient and cost effective crystalline solar photovoltaic cells available.

• Q.PRO and Q.BASE solar modules from Q-Cells receive VDE certificate at Intersolar
• Long-standing collaboration allows for preferential certification for solar cell customers

Q-Cells SE announced today the official transfer of Germany’s largest crystalline solar park in the Bavarian town of Straßkirchen. After a construction period of less than six months on an area of approximately 150 hectares, the park began successful operations at the end of 2009, and is capable of generating a total output of 54 Megawatt (MWp). Nordcapital, a Hamburg based issuing company for closed end funds, acquired 51 MWp, the largest portion of the installation, and began the placement of its first solar energy fund today.

• Sales EUR 232.3 million, EBITDA with EUR 18.8 million positive
• Operative result (EBIT) of EUR -9.3 million, adjusted EBIT of EUR -1.0 million
• New Executive Board Member for Marketing & Sales with international expertise
• Introduction of crystalline solar modules extends product portfolio

• Sales EUR 232.3 million, EBITDA with EUR 18.8 million positive
• Operative result (EBIT) of EUR -9.3 million, adjusted EBIT of EUR -1.0 million
• New Executive Board Member for Marketing & Sales with international expertise
• Introduction of crystalline solar modules extends product portfolio

In its meeting today, the Supervisory Board of Q-Cells SE appointed Dr. Marion Helmes as the company's new Chief Financial Officer with effect from 1 July 2010. Since 1997, Dr. Helmes has held several positions at ThyssenKrupp AG. She is currently a Member of the Board of ThyssenKrupp Elevator AG and as Chief Financial Officer, is responsible for the controlling, accounting, finance, corporate development and mergers & acquisitions departments. The ThyssenKrupp Elevator Division with almost 43,000 employees, last year generated a turnover of € 5.3 billion.