DGAP-Ad hoc: Phoenix Solar AG

DGAP-Adhoc: Phoenix Solar AG below revenue and earnings forecast for 2016

Phoenix Solar Aktiengesellschaft / Key word(s): Development of Sales/Profit Warning

08.11.2016 12:10

Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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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).

Communicating Person: Dr. Joachim Fleïng Language: English Company: Phoenix Solar AG Hirschbergstr. 4 85254 Sulzemoos Tel.: +49 8135 938315 Fax.: +49 8135 938429 Email: disclosure@phoenixsolar.com Internet: www.phoenixsolar-group.com ISIN DE000A0BVU93 WKN A0BVU9 Stock exchanges: XETRA, Frankfurt (Prime Standard), Munich (M:access), Stuttgart, Berlin, Dusseldorf, Hamburg, Hannover, Tradegate Exchange

About Phoenix Solar AG Phoenix Solar AG, with headquarters in Sulzemoos / Munich, Germany, is an international photovoltaic systems integrator. The Group develops, plans, builds and operates large-scale photovoltaic plants. As an EPC contractor specializing in the design and execution of solar power plants, Phoenix Solar places special emphasis on the "on-time and on-budget" construction and delivery of solar power plants, optimized to deliver superior output. With subsidiaries on three continents, the company has designed and built some 800 MWp of turnkey systems since its founding. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange. www.phoenixsolar-group.com.

Contact: Phoenix Solar AG Dr. Joachim Fleing Investor Relations Representative Tel.: +49 (0)8135 938-315 Fax: +49 (0)8135 938-399 j.fleing@phoenixsolar.de www.phoenixsolar-group.com

08.11.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

--------------------------------------------------------------------------- Language: English Company: Phoenix Solar Aktiengesellschaft Hirschbergstraße 4 85254 Sulzemoos Germany Phone: +49 (0)8135-938-000 Fax: +49 (0)8135-938-099 E-mail: kontakt@phoenixsolar.de Internet: www.phoenixsolar-group.de ISIN: DE000A0BVU93 WKN: A0BVU9 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service ---------------------------------------------------------------------------