DGAP-News: SolarWorld AG: pull-forward effects in first quarter
(firmenpresse) - DGAP-News: SolarWorld AG / Key word(s): Quarter Results
SolarWorld AG: pull-forward effects in first quarter
10.05.2012 / 07:59
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May 10, 2012
Corporate News SolarWorld AG
(Securities Code No.: WKN 510 840)
(International Securities Identification Number: ISIN DE0005108401)
SolarWorld: pull-forward effects in first quarter
- Shipments of solar modules and kits: 146 (Q1 2011: 99) MW
- Revenue: EUR 170.5 (Q1 2011: 233) million
- EBIT: EUR 31.5 (Q1 2011: 27.9) million
- Quarterly profit: EUR 7.2 (Q1 2011: 12.5) million
In the first three months of 2012, SolarWorld AG increased its shipments of
solar power modules and complete kits in the 'Trade' segment. On the German
market in particular, the demand for solar modules and system solutions
rose due to the unexpectedly early and significant cuts in subsidies. On a
groupwide level, the 'Trade' shipments increased by 48 percent to 146 (Q1
2011: 99) MW. In the segment 'Production Germany,' which is largely
dominated by the wafer business, the company did not make any significant
shipments. Groupwide shipments of wafers and solar modules reached 147 (Q1
2011: 185) MW. In light of the strong business in Germany, the groupwide
foreign share of shipments decreased to 45 (Q1 2011: 77) percent.
As a result of the developments in the wafer sector and falling prices in
the overall market, the Group's revenue decreased by 26.8 percent to EUR
170.5 (Q1 2011: 233) million. The consolidated earnings before interest and
taxes (EBIT) increased by 13.1 percent to EUR 31.5 (Q1 2011: EUR 27.9)
million. In the first quarter, the consolidated profits totaled EUR 7.2 (Q1
2011: EUR 12.5) million.
'In the first quarter of 2012, the international solar industry was under
pressure. In Germany, our results were affected by pull-forward effects in
the first three months, which were once again triggered by politics,'
comments Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG. 'In the current
market situation, the end customer sector with sales of solar modules and
kits is becoming increasingly important. In 2012, we will continue to
position ourselves as the best-known brand name provider, in particular in
the area of roof-mounted systems. In light of rapidly rising electricity
prices, generating your own electricity with a SolarWorld solar power
system will become increasingly attractive in future,' explains Asbeck.
After the first quarter, the foreign quota of the international Group will
rise again. To ensure this, SolarWorld is increasing its sales activities
in all export markets around the world. 'In addition to further
internationalization of SolarWorld, we are focusing on innovations 'Made in
Germany' and 'Made in USA.' In future, we will make our production
processes even more cost-efficient and attract customers with intelligent
and sustainable high-tech for solar power production,' resumes Asbeck.
About SolarWorld AG: The SolarWorld AG Group (ISIN: DE0005108401) is a
worldwide leader in offering brand-name, high quality, crystalline
solar-power technology. Its strength is its fully integrated solar
production. From silicon as the raw material through wafers, cells and
modules all the way to turn-key solar systems of all sizes, the group
combines all stages of the solar value chain. The central business activity
is selling quality modules into the installation and distribution trades
and crystalline wafers to the international solar cell industry. Group
headquarters are located in Bonn, Germany, with sales sites in Singapore,
South Africa, Spain, France as well as in the U.S. state of California. The
group's largest production facilities operate in Freiberg, Germany and
Hillsboro in the U.S. state of Oregon. Sustainability is the basis of the
group strategy. Under the name Solar2World, the group supports care
projects using off-grid solar-power solutions in developing countries,
exemplifying sustainable economic development. Worldwide, SolarWorld
employs about 3,300 people. SolarWorld AG has been quoted on the stock
exchange since 1999 and today is listed on, among others, the TecDAX andÖkoDAX as well as in the sustainability index NAI.
Contact:
SolarWorld AG Investor Relations,
Tel.-Nr.: +49 (0) 228 559 20 470; Fax-Nr.: +49 (0) 228 559 20 9470,
E-Mail: placement(at)solarworld.de
Internet: www.solarworld.de
End of Corporate News
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10.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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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(at)solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Indices: TecDAX
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Hamburg, München,
Stuttgart; Terminbörse EUREX
End of News DGAP News-Service
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