SolarWorld AG / Quarter Results
14.05.2009
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Group Maintains Growth
In presenting its quarterly report SolarWorld AG confirms the figures its
preliminary published. Group sales increased in the first quarter versus
the same quarter of the previous year by 5.2 per cent to 176.3 (previous
year: 167.5) million EUR. Earnings before interest and tax (EBIT) rose in
the first quarter to 39.2 (previous year, operational: 39.1) million EUR.
Group earnings went up from January to March by 26.5 per cent to 23.8
(previous year, operational: 18.8) million EUR. 'With our complete added
value creation from silicon to the quality module of the SolarWorld brand
we have selected the right strategy', says the Chairman and CEO Frank H.
Asbeck. 'In addition our cost structure allows us to essentially compensate
for the price reduction that our competitors are struggling with and to
actively accompany the solar power price on its way to grid parity.'
Looking at the balance sheet the SolarWorld Group gives a sound and strong
impression in the first quarter. The equity ratio of 40.1 (31 December
2008: 39.7) per cent continued to be at a high level. Free liquidity
amounted to 690.8 million EUR as per 31 March 2009.
Endowed with this good capital base SolarWorld AG will continue to stick to
its growth strategy in fiscal year 2009. On Monday, 18 May the group will
celebrate the topping out ceremony of the new wafer production facility at
the Freiberg location. With the start of production in early 2010 the
capacity of the entire Freiberg wafer production will go up to 750 MW, from
2011 on to 1 GW. For this 350 million EUR will be invested in Saxony. The
expansion of the US site of Hillboro is progressing according to plan, too.
By the end of the year the new logistics and production building there will
be ready for us to move into.
At the same time the SolarWorld AG headcount has also continued to go up.
At the cut-off date (31 March 2009) the group employed 2,518 persons
worldwide. This is equivalent to an 8 per cent increase in the first three
months of 2009. At the Freiberg site alone some 450 new jobs will be
created in the future through the new wafer production facility.
In the first quarter the high awareness level of the SolarWorld brand has
turned out to be an important competitive advantage. Above all in the core
market of Germany sales in the trading segment could be significantly
increased thanks to the support of the successful Germany-wide campaign
under the motto of the solar 'Dachsparkasse' (roof top savings bank). Frank
H. Asbeck: 'Our customers do not only buy a solar power system at the best
possible price, but also more than 30 years of production experience, a
25-year performance warranty as well as the certainty that our modules will
be recycled in an environmentally friendly manner.'
About SolarWorld AG: The SolarWorld AG group of companies (ISIN:
DE0005108401) is a world leader in providing high quality solar power
technology. The company which is exclusively dedicated to its core business
of photovoltaic technology is represented at all the stages of the solar
value chain combining industrial activities ranging from the raw material
of silicon to turn-key solar power plants and recycling. SolarWorld AG is
represented in all solar growth markets of the world with production
facilities mainly in Germany and the USA - with the major sites located in
Freiberg/Saxony and in Hillsboro/USA. The company headquarters are located
in Bonn/Germany. Worldwide sales of the solar modules are secured by our
five sales offices in Germany, Spain, USA, South Africa and Singapore. The
central element of the business in addition to the sale of turn-key solar
plants and solar modules to the specialist trade is the distribution of
solar silicon wafers to the international solar cell industry. In addition
to grid-coupled (on-grid) products the SolarWorld Group also distributes
grid-independent (off-grid) solar power solutions. Under the name
Solar2World the group lives up to its ethical commitment to a fair
development also in threshold and developing countries. In this context
mainly off-grid solar power solutions are funded that are perfect examples
for sustainable economic development.
Sustainability is an integral part of the SolarWorld AG corporate strategy.
Corporate management feels committed to sustainable ecologically,
economically and socially acceptable growth. The company is quoted at the
stock market including listings in the technology index TecDAX, the ÖkoDAX,
the Dow Jones STOXX 600, the international MSCI Index as well as the
sustainability indices DAXglobal Alternative Energy and NAI.
Contact:
SolarWorld AG Investor Relations / Marketing Communications,
Tel.-No.: 0228/55920-470; Fax-No.: 0228/55920-9470,
E-Mail: placement@solarworld.de
Internet: www.solarworld.de
DGAP 14.05.2009
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Language: English
Issuer: SolarWorld AG
Martin-Luther-King-Straße 24
53175 Bonn
Deutschland
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 99
E-mail: placement@solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, München, Hamburg, Stuttgart;
Terminbörse EUREX
End of News DGAP News-Service
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DGAP-News: SolarWorld Quarterly Figures Confirm Reported Sales Increase -
| Source: EQS Group AG