Press Releases

PROFIT GUIDANCE

SOLCO SECURES LANDMARK EXCLUSIVITY AGREEMENT WITH GLOBAL SOLAR MANUFACTURER LORENTZ

Solco Limited (ASX: SOO, "Solco" or "the Company") has secured an exclusive supply arrangement with a global solar pumping manufacturer, in a deal which is expected to significantly increase Solco's share of Australia's growing solar pumping market, and boost the margins and profitability of its Solar Pumping division in future years.

The exclusive supply deal, which commences from 1 December 2010 for a minimum of three years, is with German-based Lorentz - a solar pump systems specialist and one of three major solar pumping manufacturers in the world.

Solco's Chief Executive Officer Mark Norman said this supply agreement represented a major milestone towards becoming one of Australia's largest wholesale suppliers of solar pumping equipment by market share.

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RECORD REVENUE AND PROFIT GROWTH

Solco Limited (ASX: SOO, "Solco" or "the Company") is pleased to announce a record profit before tax of $3.29 million for the 2010 financial year - an increase of 84% over 2009, coupled with a record revenue of $34.5 million. It exceeded the $3.15 million profit forecast provided in July 2010 by 4.5% and is the second consecutive year of profit growth following the re-structure of Solco's Board and Senior Management team in the 2008 fiscal year.

"This outstanding result demonstrates Solco's ability to maintain robust growth while preserving strong operating margins in the face of significant business challenges" said Mark Norman CEO. "It is the result of dedication and focus by our national team and underpins our strategic plan for future growth. To support this growth, the Company's national network continues to expand with the recent securing of office and warehouse premise in Melbourne, which will be operational in September."

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EXCLUSIVE SUPPLY DEAL SECURED

Solco Limited (ASX:SOO, "Solco" or "the Company") has secured an exclusive agreement with leading Chinese solar company, Astronergy (also known as Chint Solar) to be the exclusive distributor of Astronergy solar modules throughout Australia, New Zealand, Papua New Guinea, Nauru and other Oceania nations.

With the availability of supply being a major concern for other players in the solar industry, this deal effectively secures and underpins Solco's growth and development strategy.

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SOLCO ON TRACK FOR RECORD PROFIT OF $3.15 MILLION

Solco Limited (ASX: SOO) is pleased to provide profit guidance for the 2010 financial year, with the Company expecting to report a profit before tax of $3.15 million for the 12 months to 30 June 2010.

The result, which is subject to finalisation and audit, would represent a 76% increase on the previous financial year.

Group turnover for the year is expected to be $34.5 million, a 24% increase on the previous corresponding period.

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SOLCO AND SOLAREDGE PARTNER TO MAXIMINZE SOLAR POWER HARVESTING IN AUSTRALIA

As a result of close collaboration, in 31 May 2010, Solco and SolarEdge announced a joint partnership agreement for the supply of a distributed power harvesting solution that will maximize power generation throughout a solar photovoltaic system lifecycle, while dramatically reducing complexities and costs.

Solco welcomes this strategic agreement with Solaredge, who has proven to be a reliable and committed partner, said Mark Norman, CEO and Managing Director of Solco Ltd. This partnership reflects the intensive quest by both companies to create highly efficient and cost-effective PV systems. The combination of SolarEdge technology and Solco technical expertise will significantly enhance the energy output of solar power systems installed in Australia. We expect customer response to be immediate, demonstrating the viability and effectiveness of this collaboration, and the abilities of this new solution.

The SolarEdge power harvesting solution includes PowerBoxes, which are PV module-integrated power optimizers, solar PV inverter, and solar monitoring software. This unique end-to-end solution enables production of up to 25% more energy from the PV installation, while reducing costs and complexities. The SolarEdge system offers significant improvements over existing solutions, especially in optimizing power output from each module, regardless of adjacent module performance. The SolarEdge solution allows installers and system owners of all system types to benefit from constraint-free design, real-time module-level monitoring, improved maintenance at reduced cost, optimal site-area utilisation, theft prevention mechanisms, enhanced safety and extraordinary reliability, which all contribute to faster return on investment.

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SOLCO LTD RETURNS RECORD PROFIT AND MAIDEN DIVIDEND

Solco Ltd (ASX SOO) today announced its continued corporate and business turnaround, posting a record profit of $1.79 million for the year 2008/2009. It will also deliver a maiden unfranked dividend of 0.25 cents per share. The dividend is expected to be paid on 30 September 2009 for registered shareholders as of 2^nd September 2009.

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