Ad hoc: Q-Cells SE: Q-Cells SE: Financial crisis burdens Q4 2008 and Q1 2009

Q-Cells SE / Miscellaneous business figures / Ad hoc: Q-Cells SE:
Financial crisis burdens Q4 2008 and Q1 2009

Ad hoc announcement according to §15 WpHG processed and transmitted
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announcement.

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- Growth for ongoing year 2008 expected to be lower
- Mid-term trend still unabatedly positive

Bitterfeld-Wolfen, 9 December 2008 - Q-Cells SE (QCE; WKN 555866) is
reducing its forecast for the 2008 financial year due to short notice
unexpected developments. Over recent days, the uncertainty and the
weakening market demand arising from the financial crisis have
resulted in a number of Q-Cells' customers postponing agreed
deliveries until next year. These volumes could not be placed
elsewhere at short notice. In response to these changes in market
conditions, Q-Cells intends to use the Christmas and New Year period
to perform maintenance work and reduce overtime balances.
Accordingly, the production volume in the Company's core business for
the year as a whole will now amount to around 570 MWp (previously
expected around 585 MWp). Consolidated sales revenues will total
around ¤ 1.225 billion (previous forecast: ¤ 1.35 billion), while
operating income (EBIT) in the core business is expected to amount to
approximately ¤ 230 million, with consolidated EBIT expected to be
approximately ¤ 205 million (previous forecast for the group:
¤ 260 million). Including the expected contribution to income from
Renewable Energy Corporation (REC), the Company is aiming to generate
net income for the period of around ¤ 185 million (previously
¤ 215 million).

Due to the deterioration in project financing conditions and the
uncertain market situation, Q-Cells SE expects demand to remain weak
into early 2009. Accordingly, the Company is forecasting total
production in 2009 of between 800 MWp and 1 GWp (previously at least
1 GWp) and sales revenues of between ¤ 1.75 billion and ¤ 2.25
billion (previously around ¤ 2.25 billion), corresponding to a growth
of sales revenues of at least 40 %. Due to the increasingly
attractive return of Photovoltaic appliances, the company expects
market demand to increase at the latest from the second half of 2009
and thus still an unabatedly positive mid-term trend.

Q-Cells SE's investments in 2009 will focus on the expansion of
production capacities for crystalline solar cells and majority
interests in thin-film companies.

Further information will be provided by the Executive Board of
Q-Cells SE at a conference call for analysts and investors at 1.00
p.m. (CET). This conference call will also be available as a webcast
from the Investor Relations section of the Company's website
(www.q-cells.com).

Contact information:
Q-Cells SE
OT Thalheim
Guardianstraße 16
06766 Bitterfeld-Wolfen, Germany

Investor Relations:
Stefan Lissner
Tel.: +49 - (0)3494 - 6699 10101
investor@q-cells.com

Public Relations:
Stefan Dietrich
Phone: +49 - (0)3494 - 6699 10111
presse@q-cells.com

--- End of Message ---

Q-Cells SE
OT Thalheim, Guardianstr. 16 Bitterfeld-Wolfen
Germany

WKN: 555866; ISIN: DE0005558662; Index: CDAX, GEX, Prime All Share,
TecDAX;
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