PVCS Pv Crystalox Solar Plc

    RNS Number : 7172U
  PV Crystalox Solar PLC
  16 May 2008
   
    19 May 2008

    PV Crystalox Solar plc


    INTERIM MANAGEMENT STATEMENT FROM 1ST JANUARY 2008 TO DATE



    PV Crystalox Solar plc (or "the Group") issues this Interim Management Statement in accordance with the UK Listing Authority's
Disclosure and Transparency Rules.

    As stated in our Preliminary Results for the year ended 31 December 2007 the market drivers for the business remain positive with
forecasts for the level of PV installations over the coming years showing very strong growth.  

    Performance of the Group remains strong with turnover in our core silicon products business significantly ahead of the levels achieved
in the first half of last year as we continue to benefit from strong demand for our products from the PV market.

    Improvements in the utilisation of silicon feedstock, through more extensive recycling coupled with the transition of our customers to
thinner wafers, have led to higher gross margins in the first four months of the year, in comparison with  those for the second half of
2007. We anticipate wafer shipment volume for the first half of 2008 will be in the range 105-115MW and confidently expect EBIT to be
significantly above the level obtained in second half of last year.

    Construction of our polysilicon production facility in Bitterfeld Germany remains on schedule. Orders have been placed for all major
items of plant and equipment in readiness for commercial production to start in 2009.

The Group is continuing with negotiations regarding long-term wafer supply agreements with potential customers and is looking forward to
announcing the conclusion of these discussions in the coming months.

    The Group continues to look forward to the future with confidence. 

    The AGM will be held at the offices of JPMorgan Cazenove, 20 Moorgate, London EC2R 6DA on 23 May at 2.00 pm. 

    For further information contact: 


    PV Crystalox Solar PLC                                               Tel: +44 (0)1235 437 160
    Iain Dorrity, Chief Executive Officer
    Peter Finnegan, Chief Financial Officer

    Gavin Anderson & Company                                        Tel: +44 (0)20 7554 1400
    Kate Hill
    Robert Speed    

This information is provided by RNS
The company news service from the London Stock Exchange
 
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