SolarWorld AG increases shipments by 22 per cent in first nine months of 2009
Group revenues grow by three per cent over previous quarter with module prices going in the opposite direction
Based on the strong international quality brand and the well-established distribution structures SolarWorld AG was able to increase the group-wide shipments by 15 per cent to 125 (previous year: 109) MW in the third quarter and by a total of 22 per cent since the beginning of the year.
Revenues in the third quarter amounted to 232.5 (previous year: 238.3) million EUR and rose in comparison with the second quarter of 2009 by three per cent with module prices declining at the same time. In the first nine months group-wide revenues totaled 634.1 (previous year: 665.4) million EUR. In the course of the year SolarWorld was able to increase its sales revenues continuously right across the quarters.
In the third quarter EBIT was 34.7 (previous year: 90.8) million EUR. The EBIT margin for the third quarter amounted to 15 per cent. For the first three quarters of 2009 the group reached an EBIT of 117.7 (same period previous year: 209.3) million EUR. This is equivalent to an EBIT margin of 19 per cent in the first nine months of 2009. Group income after taxes from continued operations in the third quarter ran to 16 (previous year: 36.1) million EUR and YTD 67.7 (same period last year: 109.8) million EUR.
SolarWorld AG has thus succeeded in largely counteracting the price pressure in the international solar market by way of cost savings and a substantial increase in group-wide shipments.
The capacities for module production will be increased to 500 MW in the USA, to 450 MW in Germany and to 300 MW in South Korea because all production sites are working under full load at their capacity limits.
The revenue forecast 2009 over previous year’s level with 1 billion EUR as next stage’s goal is confirmed.
Investor Relations / Corporate Communications