Q-Cells SE publishes report as at 30 June 2010:

Thursday, 12. August 2010 07:01
Q-Cells SE / Q-Cells SE publishes report as at 30 June 2010: processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.

    -     Sales at € 333.5 million in first quarter up 44 % on previous quarter
    -     Operative EBIT positive: € 27.1 million in second quarter and
€ 17.9 million in first half of year
    -     Nedim Cen appointed CEO for five years

Bitterfeld-Wolfen, 12 August 2010 - Q-Cells SE (QCE; ISIN DE0005558662) has
achieved further significant successes in the second quarter of 2010 within its
restructuring and strategic transformation which are reflected in a positive
development of sales and EBIT figures. Total production volume of solar cells
and thin-film modules was around 238 megawatts-peak (MWp) in the second quarter
and thus 37 % higher than in the first quarter (174 MWp); the figure for the
first half of 2010 amounts to 412 MWp. A strong factor contributing to this
growth included the high rise in production volume at Q-Cells' Malaysian solar
cell factory, which almost doubled its production output as against the previous
quarter to nearly 100 MWp. Thin-film module production at the Thalheim location
also virtually doubled from a low level to around 17 MWp. Sales in the first
half of the year amounted to € 565.7 million with the company generating
€ 333.5 million in the second quarter. This marks an increase of 144 % on the
same quarter of the previous year and growth of 44 % as against the first
quarter of 2010. For the first time, Q-Cells is reporting significant sales in
its newly launched solar module business. Deliveries of crystalline modules
amounted to 44 MWp in the second quarter.

Operative EBIT for the second quarter was € 27.1 million (H1 2010:
€ 17.9 million). Thus, one of the key goals of the restructuring programme -
operative profitability in the second quarter of 2010 - has been achieved.
Ramp-up costs for production in Malaysia and thin-film module production in
Germany amounted to around € 4 million in the past quarter. These ramp-up losses
were therefore reduced significantly as against the previous quarter (Q1 2010:
€ 9 million).

The result for the period in the second quarter was € 35.2 million, producing a
figure for the first half of the year of € ‑11.2 million including the loss in
the first quarter. Continuing operations accounted for € 37.0 million in the
second quarter and € 27.4 million in the first half of the year (discontinued
operations in Q2: € ‑1.8 million; H1: € ‑38.6 million).

Management Board team complete - Nedim Cen remains CEO

The Supervisory Board of Q-Cells SE has named Nedim Cen as CEO of Q-Cells SE for
the next five years with effect of 1 September 2010. Nedim Cen, so far Managing
Director at restructuring advisor Alvarez & Marsal (A&M), had taken on the CFO
position at Q-Cells SE back in June 2009 as well as the CEO position in March
2010 on an interim basis. He has since successfully led the restructuring of the
company and will now as CEO continue the strategic transformation of Q-Cells.
The position of CFO has been taken on by Marion Helmes since July 2010.
Hans-Gerd Füchtenkort (Marketing & Sales) and Gerhard Rauter (Operations &
Technology) complete the team of the Management Board.

"We are very pleased that Dr. Nedim Cen has agreed to continue his work with
Q-Cells. He has so far done an excellent job with restructuring and transforming
the company," said Karlheinz Hornung, Chairman of the Supervisory Board of
Q-Cells SE. "The new strategy to develop Q-Cells into a provider of photovoltaic
solutions is on its way. With the launch of solar modules we have taken the
first successful step which is reflected in a positive operative result for the
second quarter 2010. Yet, the way ahead is still strewn with obstacles which I
am certain Nedim Cen, the Management Board and the whole Q-Cells team will
handle appropriately."

Transformation and customer focus

In June, Q-Cells successfully launched its new product portfolio that, in
addition to solar cells and thin-film modules, also includes crystalline modules
and systems business with large solar power plants and medium-sized photovoltaic
systems for commercial and industrial applications. The expansion of crystalline
cell production in Malaysia is making rapid progress. The last piece of
machinery was installed in the production hall on 29 June 2010. The plant will
now focus on optimising production so that the planned capacity of 600 MWp will
be reached by the end of the third quarter of 2010.

In addition to cell production, which contributed around 50 % of sales in the
second quarter, CIGS thin film technology is a key component to Q-Cells. The
expansion of production for the Q.SMART modules to 135 MW by the end of 2010 is
proceeding according to plan. Production at the Q-Cells subsidiary Solibro - one
of the three largest productions of this technology in the world -  has achieved
high efficiency levels of up to 13 % for thin-film modules. Q-Cells is examining
the further development of Solibro on the basis of this technological progress.

Along with large solar power plants, Q-Cells is now also developing medium-sized
photovoltaics systems for commercial and industrial applications. Systems have
already been successfully initiated in this segment in the second quarter: Two
solar power stations in Ahorn (Baden-Württemberg, Germany) are supplying 11 MWp
while a facility in Spremberg (Brandenburg, Germany) is feeding 5.3 MWp of solar
electricity into the grid. In working this market segment, Q-Cells is calling on
its experience of building major photovoltaics systems and thereby optimising
its capital employed.

The Executive Board feels that the positive results for the second quarter of
2010 prove the effectiveness of the restructuring measures. After focusing the
investment portfolio, adjusting capacity, reduction of wafer supply costs, and
implementing a strict investment management, the Executive Board is assuming
that the restructuring of Q-Cells SE will largely be complete by the end of
2010. In future, Q-Cells will continue to work intensively on cutting costs,
optimising working capital and liquidity. Furthermore, internal processes will
be brought in line with the company's clear focus on customers - from service
and product development through to marketing.

"We have successfully largely concluded our restructuring. Yet, we will continue
to systematically improve cost structures as we move forwards," said Nedim Cen,
CEO of Q-Cells SE. "In the strategic transformation of the company we are
concentrating on our strengths: the production of solar cells and modules, as
well as the planning and creation of photovoltaics systems of various sizes. At
the same time, we will have to further increase productivity and push ahead with
the internationalisation of our business."

Q-Cells is forecasting total sales of € 1.1 to € 1.3 billion (previously €1.0 to
€1.2 billion) and a positive operative EBIT for 2010 as a whole.

Further details can be found in the report as at 30 June 2010 and a presentation
on the published figures and can be accessed on the Q-Cells SE website
(www.q-cells.com) under Investor Relations.

  | Q1 2010 | Q2 2010 | H1 2010
Production | 174 MWp | 238 MWp | 412 MWp
Sales | € 232.3 million | € 333.5 million | € 565.7 million
EBIT | € -9.3 million | € 27.1 million | € 17.9 million
Result for Period | € -46.4 million | 32.5 € million | -11.2 € million

About Q-Cells:
The Q-Cells Group is one of the world's leading photovoltaics companies. Its
extensive product portfolio ranges from solar cells and modules to turnkey
photovoltaics systems. Q-Cells' products are developed and manufactured at its
headquarters in Bitterfeld-Wolfen (Germany) and marketed via its global sales
network. It also has a second production plant in Malaysia.
The more than 200 scientists and engineers at Q-Cells are working to swiftly
advance solar technology and achieve Q-Cells' twin aims: driving down the costs
of photovoltaics quickly and permanently, and making solar power competitive.
The close links between R&D and production enable Q-Cells to rapidly translate
cutting-edge innovation into mass production - and underpin its ambition to be
at the forefront of photovoltaic technology.
Q-Cells is quoted on the Frankfurt Stock Exchange (QCE; ISIN DE0005558662) and
also listed on the TecDAX, the German technology index.

Contact information:
Q-Cells SE
OT Thalheim
Sonnenallee 17 - 21
06766 Bitterfeld-Wolfen, Germany
Corporate Communications:
Ina von Spies
Tel.: +49 - (0)3494 - 6699 10121
Investor Relations:
Stefan Lissner
Tel.: +49 - (0)3494 - 6699 10101


--- End of Message ---

Q-Cells SE
OT Thalheim, Sonnenallee 17-21 Bitterfeld-Wolfen Germany

WKN: 555866;ISIN: DE0005558662;Index:TecDAX,Prime All Share,CDAX,GEX;
Listed: Freiverkehr in Börse Stuttgart,
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Freiverkehr in Bayerische Börse München,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;

Report as of 30 June 2010:

Presentation Report as of 30 June 2010:

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