SolarWorld AG drives focusing on high power technology in 2017
Annual Group Report 2016 presented at press conference in Bonn, Germany
At today’s press conference on financial statements in Bonn, Germany, SolarWorld AG presented its Annual Group Report 2016 and confirmed its preliminary financial figures for the last year as well as its forecast for 2017.
Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG, said, “There has been no shortage of challenges in the international solar business. The second half of 2016 was influenced by market turbulences and increased dumping. This development clearly left its mark on our company, too. To strengthen our leading technology position and to improve our cost structure decisively we are going to focus our activities entirely on monocrystalline high-efficiency products with the PERC concept.”
In the course of the focusing process, SolarWorld has begun to bundle its German production activities: Crystal growing and cell manufacturing will take place at Arnstadt, in Thuringia, while SolarWorld’s site in Freiberg, Saxony, will concentrate on wafer and module production. This year, SolarWorld will respectively shut down and relocate the smaller production facilities for modules in Arnstadt and for cells in Freiberg.
“2017 is a year of transition. It is key to implement focusing measures quickly and well. 2017 will also be a year of further investments into the future of our company. We will mainly invest into diamond wire saws in our wafer production and into the further expansion of PERC capacities,” said Dr.-Ing. E. h. Frank Asbeck.
With regard to his expectations of the future development of SolarWorld’s business, Dr.-Ing. E. h. Frank Asbeck added, “Groupwide shipments are expected to rise in the current year. We expect that the price pressure on the solar market will continue. In 2017, consolidated revenue should be at about previous year’s level. We will improve earnings before interest and taxes (EBIT), but it will still be negative. By 2019, we want to be operatively in the black again and remain there.”
Annual Group Report of SolarWorld AG: www.solarworld.de/financial-reports
SolarWorld REAL VALUE: SolarWorld manufactures and sells high-tech solar power solutions and in doing so contributes to a cleaner energy supply worldwide. The group, headquartered in Bonn, Germany, employs 3,288 people and operates facilities in Freiberg, Germany; Arnstadt, Germany; and Hillsboro, Oregon, USA as well as in a joint venture with Qatar Solar Technologies. From raw material silicon to solar wafers, cells and modules, SolarWorld manages all stages of production ‒ including research and development in its own company, SolarWorld Innovations. Through an international distribution network with locations in Europe, USA, Singapore, Japan, South Africa and Qatar, SolarWorld supplies customers all over the world. The company upholds high social standards and commits itself to resource- and energy-efficient production. With its program Solar2World, the company supports the expansion of solar power in developing countries. SolarWorld was founded in 1998 and has been publicly traded on the stock market since 1999. More information at www.solarworld.com