DGAP-News: SolarWorld Boosts Third Quarter Revenue by 45 Percent
(firmenpresse) - SolarWorld AG / Key word(s): Quarter Results/Miscellaneous
11.11.2010 07:59
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Group Receives Deloitte 'Sustained Excellence Award'
SolarWorld AG was able to successfully expand its business in the third
quarter of 2010. Shipments of wafers and solar modules went up by 53
percent to 191 (Q3 2009: 125) MW. In spite of the industry-wide price
decline, the group was able to expand its revenue. This rose in the third
quarter of 2010 by 44.6 percent to EUR 337.4 (Q3 2009: EUR 233.4) million.
EBIT amounted to EUR 51.4 million in the third quarter. This is an increase
of 41.9 percent in comparison with the third quarter of 2009 (EUR 36.2
million). The EBIT margin was almost constant at 15.2 (Q3 2009: 15.5)
percent. The after-tax profit rose in the third quarter of 2010 by EUR 2.1
million to EUR 18.1 (Q3 2009: EUR 16.0) million.
In comparison with the first nine months of 2009 (364 MW), the company
boosted its shipments by 56 percent to 568 MW. This increase is partly due
to politically motivated pull-in effects in Germany in the first half of
2010, which made themselves felt particularly strongly at the end of the
second quarter. Revenue also increased vigorously in the first nine months
of 2010 in comparison with the prior-year period by 48.5 percent and EUR
309.1 million to EUR 945.8 (Q1-Q3 2009: EUR 636.7) million. EBIT in the
first three quarters amounted to EUR 132.5 (Q1-Q3 2009: EUR 119.5) million,
an increase of 10.9 percent and EUR 13.0 million. In the first nine months
of 2010, EBIT margin ran to 14.0 percent. After-tax profit in the first
nine months of 2010 amounted to EUR 52.9 (Q1-Q3 2009: EUR 67.7) million.
'We have successfully used the growth in the international solar markets to
strengthen our market positioning as a high quality manufacturer and to
increase our shipments,' says Dr.-Ing. E.h. Frank Asbeck, chairman and CEO
of SolarWorld AG. This growth in shipments was driven by the strong German
market, but also internationally SolarWorld was able to increase its sales
significantly. Dr.-Ing. E.h. Frank Asbeck, 'Our production capacities were
fully utilized in the past nine months, which is why we continue to expand
them. SolarWorld is prepared for the future.' The expansion is proceeding
according to schedule at all locations. In the first half of 2011, the mass
production in the new module manufacturing facility SolarFactory III at the
German location in Freiberg is to be ramped up. At the U.S. production site
in Hillsboro, the first modules have come off the production line in early
September. The ramp-up phase will now follow.
For its sustainable power of growth, SolarWorld AG has recently been
honored for the second time with the 'Sustained Excellence Award' of the
Deloitte management consultancy. This prize is awarded to companies that
are characterized both by their long-term growth record and by their
innovative capabilities and their financial performance. 'We are also
standing our ground in the tougher competition of the international solar
markets because we are consistently cutting our costs along the complete
value chain, increasing our quality and sustainably expanding our market
share,' declares Philipp Koecke, CFO of SolarWorld AG. 'The Sustained
Excellence Award confirms our successful international growth strategy.'
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. 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,ÖkoDAX, Dow Jones STOXX 600 as well as in the
sustainability indices DAXglobal Alternative Energy and NAI.
Contact SolarWorld AG
Press: Tel.-No.: 0228/55920-400, E-Mail: press(at)solarworld.de
Investor Relations: Tel.-No.: 0228/55920-470; Fax-No.: 0228/55920-9470,
E-Mail: placement(at)solarworld.de
Internet: www.solarworld.de
11.11.2010 Dissemination 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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Language: English
Company: 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(at)solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Hamburg, München, Berlin, Stuttgart;
Terminbörse EUREX
End of Announcement DGAP News-Service
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Datum: 11.11.2010 - 07:59 Uhr
Sprache: Deutsch
News-ID 32566
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