DGAP-News: SolarWorld AG increases shipments in stagnating total market
(firmenpresse) - DGAP-News: SolarWorld AG / Key word(s): Quarter Results
SolarWorld AG increases shipments in stagnating total market
14.11.2011 / 07:59
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November 14, 2011
Corporate News SolarWorld AG
(Securities Code No.: WKN 510 840)
(International Securities Identification Number: ISIN DE0005108401)
SolarWorld AG increases shipments in stagnating total market
EBIT-margin of 8.7 percent in third quarter
- Shipments of 195 MW (Q3 2010: 191 MW)
- Revenue of EUR 238 million (Q3 2010: EUR 342 million)
- EBIT of EUR 21 million (Q3 2010: EUR 50 million)
- EBIT-margin of 8.7 percent (Q3 2010: 14.6 percent)
In the third quarter of 2011, SolarWorld AG was able to report an increase
in shipments over the same quarter of the previous year. Revenue amounted
to EUR 237.8 (Q3 2010: EUR 342.1) million. EBIT was at EUR 20.6 (Q3 2010:
EUR 49.8) million. The consolidated net income ran to EUR -9.0 (Q3 2010:
EUR +19.9) million due to losses in the United States that did not reduce
our taxes.
In the first nine months of the year, SolarWorld AG also increased its
shipments to 576 (Q1-Q3 2010: 568) MW. Revenues of EUR 772.9 (Q1-Q3 2010:
EUR 958.3) million fell short of the previous year's level. The operating
profit (EBIT) in the first nine months amounted to EUR 88.7 (Q1-Q3 2010:
EUR 133.6) million. Consolidated net income amounts to EUR 13.4 (Q1-Q3
2010: EUR 54.7) million.
'In the entire market, the demand in the third quarter of 2011 developed
worse than expected,' explained Dr.-Ing. E. h. Frank Asbeck, Chairman and
CEO of SolarWorld AG. 'We did not remain unscathed by the price declines
caused by the strong surplus supply mainly from state-subsidized low-price
providers. Therefore, we welcome the official initiation of the
investigation against unfair trade practices by Chinese manufacturers in
the United States.'
In spite of declining prices, the overall market failed to pick up again.
'In Germany, for example, the market is expected to decline by about one
third from 7.5 GW to probably 5.0 GW for the entire year 2011,' says
Dr.-Ing. E. h. Frank Asbeck.
Despite the weakening global markets, SolarWorld AG was able to slightly
increase its shipments and will easily exceed the 1 billion EUR revenue
mark in 2011. Due to the negative price framework, however, SolarWorld AG
will probably not reach prior year's revenue level of EUR 1.3 billion.
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 around 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 / Corporate Communications
Phone: +49 228 55920-470
Fax: +49 228 55920-9470
Email: placement(at)solarworld.de
Internet: www.solarworld.de
End of Corporate News
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14.11.2011 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
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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146059 14.11.2011
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Datum: 14.11.2011 - 07:59 Uhr
Sprache: Deutsch
News-ID 87171
Anzahl Zeichen: 8190
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