DGAP-Adhoc: SolarWorld AG: Preliminary business results for Q3 2016

SolarWorld AG  / Key word(s): 9-month figures/Preliminary Results

28.10.2016 17:59

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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SolarWorld AG: Preliminary business results for Q3 2016

In Q3 2016, SolarWorld AG increased groupwide shipments in a difficult
market situation by 5 percent versus previous year's quarter to 345 (Q3
2015: 328) megawatts. In the first three quarters 2016, SolarWorld raised
its shipments by 31 percent to 1,027 (Q1-Q3 2015: 784) megawatts.

Consolidated revenue was EUR 204 million in Q3 2016 and thus almost on
level with previous year's quarter (Q3 2015: EUR 212 million). From January
to September 2016, the group increased its revenue by 20 percent to EUR 639
(Q1-Q3 2015: 532) million.

The global price erosion in Q3 2016, which resulted from increasing dumping
by Chinese manufacturers, made a write-down of inventories in an amount of
EUR 13 million necessary. Because of this write-down, earnings before
interest, taxes, depreciation and amortization (EBITDA) decreased to EUR
-12 (Q3 2015: 5) million in Q3 2016. In the first three quarters 2016,
EBITDA was EUR 7 (Q1-Q3 2015: 15) million. In line with EBITDA, earnings
before interest and taxes (EBIT) went down to EUR -25 (Q1-Q3 2015: -6)
million in Q3 2016. In the first three quarters 2016, EBIT amounted to EUR
-30 (Q1-Q3 2015: -18) million.

The negative market environment led to a build-up of inventories so that
liquid funds decreased to EUR 84 million as at the cut-off date Sept. 30,
2016 (June 30, 2015: EUR 148 million). The group has taken measures to
adapt its production volume more flexibly to demand, lower costs further
and thus to improve liquidity in Q4.

Contact:
SolarWorld AG
Investor Relations
Phone: +49 228 55920-470; Fax: +49 228 55920-9470,
Email: placement@solarworld.com; Web: www.solarworld.de/en/investor-
relations


28.10.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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Language:     English
Company:      SolarWorld AG
              Martin-Luther-King-Straße 24
              53175 Bonn
              Germany
Phone:        +49 (0)228 - 559 20 470
Fax:          +49 (0)228 - 559 20 9470
E-mail:       placement@solarworld.com
Internet:     www.solarworld.de
ISIN:         DE000A1YCMM2, DE000A1YDDX6, DE000A1YCN14
WKN:          A1YCMM, A1YDDX, A1YCN1
Listed:       Regulated Market in Dusseldorf, Frankfurt (Prime Standard);
              Regulated Unofficial Market in Berlin, Hamburg, Hanover,
              Munich, Stuttgart, Tradegate Exchange
 
End of Announcement                             DGAP News-Service
 
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