AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 47)

Summary of Risk Factors

Investors should carefully read and consider the following summary on risk factors relating to the Issuer

and AEG PS Group. Prior to making a decision on the purchase of Notes, investors should carefully con-

sider certain risks. If any of the events associated with these risks occur, individually or in connection

with other circumstances, the business of AEG PS Group may be affected to a substantial degree, with a

material adverse effect on the net assets, financial condition and results of operations of the Issuer. The

market price of the Notes could decline as a result of an event associated with the occurrence of any of

these risks, and investors could lose some or all of the capital they have invested.

Risks Related to the Issuer and AEG PS Group

 The global economy is still undergoing a period of unprecedented volatility and may continue to

impair business and results of operations of AEG PS Group.

 AEG PS Group's profitability and the success of its growth strategy are dependent on the growth

of the photovoltaic industry and on investments in new polysilicon production capacity. AEG PS

Group is currently not in a position to offset declining demand for its power control systems and

modules with its other operating activities which has had and could continue to have a material

adverse effect on its revenues and profitability.

 AEG PS Group is dependent on the successful implementation of the Management's strategy to

restructure its Energy Efficiency Solutions segment. Should AEG PS Group fail to implement its

operational restructuring plans, its revenues and profitability may be adversely affected.

 AEG PS Group's cash from operating activities and current cash resources may be insufficient to

meet its cash-flow requirements. AEG PS Group is therefore dependent on the successful issue of

the Notes and its ability to improve its cash-flows from operating activities.

 AEG PS Group could face a further decline for its products in demand from the polysilicon manu-

facturing industry due to technology substitutions for the generation of solar energy.

 AEG PS Group could face a decline in demand if government subsidies and economic incentives

for the photovoltaic industry are reduced or eliminated.

 AEG PS Group historically recognised significantly lower revenues in the first quarter and its re-

sults of operation may fluctuate significantly from quarter to quarter in the future.

 AEG PS Group's business in the Renewable Energies Solutions segment is mainly project driven,

and its success depends upon its ability to timely complete current orders and to continuously se-

cure new orders in this segment.

 Amounts included in AEG PS Group’s order backlog may not result in actual revenues or translate

into profits.

 AEG PS Group experiences customer concentration in many of its sub-segments.

 AEG PS Group may not be able to manage the intended growth of its Renewable Energy Solutions

segment effectively.

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AEG 21604 G Bedienungsanleitung Seite 47