http://www.crystalox.com/

With 25 years in solar technology development, PV Crystalox Solar is a leading manufacturer of multicrystalline silicon ingots and wafers, the key component in solar power systems.

Its customers, the world's leading solar cell producers, combine these wafers into solar modules to harness the clean, silent and renewable power from the sun.

PV Crystalox Solar is playing a central role in making solar cost competitive with conventional hydrocarbon power generation, and as such continues to seek to drive down the cost of production whilst increasing solar cell efficiency. The gap between the cost of solar power production and utility energy is decreasing year on year.

With a long history of production with high growth and profitability, PV Crystalox Solar is well placed to benefit greatly from the rapid growth in the solar energy market

London, United Kingdom: PV Crystalox Solar Plans Listing on London Stock Exchange

PV Crystalox Solar, a producer of solar-grade silicon products for solar electricity generation systems, today announced its intention to proceed with an initial public offering of its ordinary shares, which are intended to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange.

JPMorgan Cazenove has been appointed as sponsor to the Company and global coordinator and sole Bookrunner in relation to the offer. Jefferies International Limited has been appointed as co-lead manager.

PV Crystalox Solar, initially established in the UK in 1982, is a highly specialised supplier to the worlds leading solar cell manufacturers, producing multicrystalline silicon ingots and wafers for use in solar electricity generation systems. The Group was one of the first to develop multicrystalline technology on an industrial scale, setting the industry standard for ingot production.

PV Crystalox Solar manufactures silicon ingots in Oxfordshire, United Kingdom, with the majority of its output shipped to Japan, where it is sold either as ingots or as wafers after processing by a sub-contractor. The balance of the Groups ingots are processed into wafers for European customers at the Groups facilities in Erfurt, Germany. The German operation is constantly developing the Groups wire saw technology for the production of thinner wafers.

PV Crystalox Solar has strong, long-established relationships with major solar cell manufacturers, including Sharp and Schott Solar. The Group does not compete with its customers and is therefore able to work closely with them to improve wafer quality and minimize costs.

By focusing purely on the production of solar-grade silicon products, the Group benefits from the higher margins available to companies in the upstream of the photovoltaic value chain, where there are fewer competing manufacturers and higher barriers to entry.

PV Crystalox Solar has an established record of delivering strong financial performance. The Group recorded revenues of 242m for the year ended 31 December 2006, an increase of 32% (31 December 2005: 183m) and a 56% increase in Group pre-tax profits to 49m (31 December 2005: 31.3m)

In 2006 the Group produced silicon wafers and ingots corresponding to a solar electricity generation capacity of 215 MWp. As at the end of 2006 the Group had available production capacity equivalent to 288 MWp and employed around 200 staff.

Iain Dorrity, Chief Executive Officer, PV Crystalox Solar said PV Crystalox Solar has a long and successful history as one of the worlds leading manufacturers of solar-grade silicon products. Over the last five years we have been consistently profitable, trebling our sales and continuing to grow our margins. We look forward to listing on the London Stock Exchange, which we believe will further enhance our ability to grow the business.

The Group is proposing to build its own polysilicon production facility in Germany to secure an additional source of feedstock. The Directors believe that in-house polysilicon production will provide greater flexibility in sourcing its silicon feedstock. PV Crystalox Solar expects the facility to commence operation in 2009 with an initial planned production volume of 900 metric tonnes in that year, rising to 1,800 metric tonnes in 2011
http://www.solarbuzz.com/news/NewsEUCO396.htm

Been keeping an eye pn PVCS for a while since it popped up from a profitability v market cap data mining scan.

SP has been stuck in a narrow trading range for quite some time, so I would expect a breakout in one direction or another fairly soon. Results are out on Thursday which may provide the required shove. MAs also completed a Golden Cross recently and then gravitated back towards said MAs (which is something I have noticed happens quite frequently with this particular pattern).

See what happens Thursday then!

Interim Management Statement.

PV Crystalox Solar PLC ("the Group") announces its Interim Management Statement, in accordance with the UK Listing Authority's Disclosure and Transparency Rules, for the period from 1 January 2011 to the date of this announcement. The Group announced its preliminary results for the year ending 31 December 2010 on 24 March 2011.

The Group experienced strong demand for its products during the first four months of the year. Demand has weakened during recent weeks and shipment volumes for the first half of the year are now expected to be within the range 210-225MW, a significant increase on the 165MW shipped in the same period in 2010.

Although lower than expected PV module installation levels in Germany and uncertainty due to delays in finalising revisions to feed in tariffs ("FIT") in Italy have weakened prices in recent weeks, our average sales price (ASP) during the first half year is expected to be only moderately below that reported for the full year 2010. We anticipate that this will be at least offset by the accelerated progress in our wafering and internal polysilicon production cost reduction programmes, resulting in a positive impact on margins. Accordingly performance in the first half of 2011 is expected to be in line with expectations.

The Group continues to make good progress in expanding and broadening its geographical customer base. Shipments to customers in Asia exceeded 80% during the first four months of 2011 with Taiwan becoming our largest geographical market followed by China and Japan.

The expansion of the Group's ingot production capacity to 535MW was completed on schedule and on budget. The next phase of expansion to reach 670MW is underway and is on track for completion by the end of the year.

Under the agreed regulatory framework, the low level of installations in Germany during 2011 will result in only modest reductions in FITs on 1 July, which should positively impact demand in the second half of the year. Demand should also be stimulated in Italy now that uncertainty over the PV incentive scheme has been removed following the final announcement on 5 May 2011. However concerns remain due to reports of high inventory levels across the value chain and their impact on pricing in the second half of the year.

We continue to place strong emphasis on our relationships with major PV companies and to focus on cost reduction and operating efficiencies. Whilst uncertainties remain in the near term, we are well positioned with our solid balance sheet, strong net cash position and low cost base to take advantage of the anticipated future volume growth in the market.

Am tempted to pick up a few of these in aticipation of a bounce from 45p ish.

From CNBC today.

Schroders increased to 11% holding.

Hmmm - Chinese Banks Back $10 Billion Bid to Build Solar Energy Plants in Europe

Oh dear...

Yes - not good.

28 June 2011

PRE-CLOSE TRADING UPDATE

PV Crystalox Solar plc announces that, as a result of the widely reported adverse PV market conditions experienced in recent weeks, Group shipment volumes in the first half of the year will be slightly below the guidance of 210-225MW given in our Interim Management Statement on 19 May 2011. However, wafer ASPs during Q2 remained broadly in line with earlier expectations and the cash position will remain strong at the end of the half year

PV end-market demand has been much weaker than anticipated as confirmed by the recent announcement from the German Environment ministry that PV installations in Germany the largest global market were only 700MW during the March-May period which is approximately half the level installed in the same period in 2010.

The weaker PV market demand coupled with increasing production capacity in the industry and high inventories has put strong downward pressure on prices in all parts of the value chain during recent weeks. Although demand in Germany is expected to increase in the second half of the year, we expect that trading conditions in the second half will be significantly more challenging than anticipated at the time of our Interim Management Statement.

If the current trading conditions were to persist, the Group may incur an operating loss in the second half. This potential loss could be offset if the Group were to experience a significant improvement in wafer ASPs over current spot prices and/or a reduction in supplier prices. These possibilities are being actively explored by the Group.

Whilst the Board recognises the importance of dividends to shareholders, trading conditions and prospects will be taken into account when determining appropriate dividend payments, if any, in respect of 2011.

The interim results for the period to 30 June 2011 are expected to be released on 18 August 2011.

Likely to go sub 10p soon.

RNS Number : 5857Q

PV Crystalox Solar PLC

21 October 2011

PV Crystalox Solar PLC

21 October 2011

Interim Management Statement

In light of the ongoing difficult market conditions in the solar industry PV Crystalox Solar PLC ("the Group") has brought forward its Interim Management Statement to today's date. This announcement is provided in accordance with the UK Listing Authority's Disclosure and Transparency Rules, for the period from 30 June 2011 to the date of this announcement.

The anticipated recovery in PV end-market demand stimulated by lower module prices has been weaker than expected in the second half of 2011, particularly in Germany, the largest global market. Furthermore, the hitherto expected year-end rally, driven by the pull-in effect of installations in advance of the feed-in tariff cut, does not appear to be materialising.

Since our interim results statement wafer prices on the spot market have decreased by more than 20%, meaning that the overall decline since April is greater than 50%. This decline has been driven by a combination of weak demand coupled with significant over-capacity and high inventories.

Some of our customers have reduced production in response to the weak market conditions and accordingly the Group now expects full year shipment volumes to be in the range 360-390MW. This is broadly flat in comparison with the 378MW shipped the previous year but below the 400-450MW indicated at the time of our interim results on 18 August 2011.

In light of these market conditions the Board has resolved to take appropriate actions to manage the business through these difficult times and to conserve the Group's cash. In the short term the Group intends to reduce production output at its UK ingot and German wafer operations. The Board also intends to suspend production temporarily at its polysilicon facility in Bitterfeld, Germany. Regrettably these actions will lead to significant job losses in the UK and short time working in Germany. In addition the Group will continue to have discussions with its suppliers in order to reduce costs and will continue to seek further methods of achieving greater efficiencies within the Group's operations.

As a result of the lower volumes, the intense pricing pressure, and the associated inventory write-downs the Group now expects to incur an operating loss for the full year. The Group continues to review the carrying value of assets, and the result would be a significant non-cash impairment at the year-end, if market conditions persist.

The Group's cash position remains positive and the above measures have been instigated to minimise cash outflows, and the Group expects to have a healthy cash balance at the end of the year. Whilst the market conditions are currently difficult, the Board's actions are a necessary response, designed to preserve the capabilities within the business. The Group continues to believe that the medium-term outlook for solar installations remains positive and in the importance of protecting the Group's capabilities and cash for the future. The Group continues to review industry conditions on an ongoing basis.

Down 42% - ouch.

.

No - real pain!

Another disaster share.

warning bells have been ringing tor the last year

Judgement clouded by some knowledge of the company - I still hold 50% of my original holding. I will move them to the "down to experience" part of my portfolio.

Worth buying in or not ?...views welcome....wasn't this 2 or 3 pounds a few years ago....unbelievable...

RF - its a different world now! Sadly, I can't see any upside here - but its your money.

I'm thinking of a rebound but it might slide again on monday...not sure...

I would stay clear.