SolarWorld AG: Business results for first half of 201314-08-13
• Shipments: 233 (H1 2012: 334) MW
• Total revenue: € 201 (H1 2012: € 340) million
• EBITDA: € –37 (H1 2012: € –99) million
• EBIT: € –69 (H1 2012: € –144) million
• Consolidated result: € –82 (H1 2012: € –161) million
SolarWorld AG has confirmed preliminary figures reported on July 18, 2013. During the first half of 2013, the company sold fewer solar power modules and kits than in the same period last year. Groupwide shipments, including the solar wafer business, reached 233 MW in the period (H1 2012: 334 MW). Declining shipments and persistent price pressure due to dumped modules have reduced consolidated revenue, compared with the first half of last year. SolarWorld achieved total revenue of about € 201 (H1 2012: € 340) million including the wafer business.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose in the first half of the year to about € –37 (H1 2012: € –99) million. Consolidated earnings before interest and taxes (EBIT) improved to about € –69 (H1 2012: € –144) million. Consolidated results after taxes improved to € –82 (H1 2012: € –161) million.
Cash flow from operating activities also improved during the first half of 2013 by € 18 million, reaching € –9 (H1 2012: € –27) million. As at June 30, 2013, liquid funds amounted to € 162 (December 31, 2012: € 224) million. The reduction can be mainly attributed to the payment of debt interest and investments in new technologies.
Dr.-Ing. E. h. Frank Asbeck, CEO and Chairman of the Management Board of SolarWorld AG, stated: “Last week, noteholders and shareholders of SolarWorld AG cleared the road for restructuring with an overwhelming majority. This outcome will have a positive effect on our business for the rest of the year. Our new products will boost our sales. Quality and innovation strength are our best arguments to survive in the continuing tough competitive climate.“
About SolarWorld AG: SolarWorld AG manufactures solar power systems and in doing so contributes to a cleaner energy supply worldwide. The company, located in Bonn, employs approximately 2,500 people and carries out production in Freiberg, Germany, and Hillsboro, USA. From raw material silicon to the solar module, SolarWorld manages all stages of production ‒ including its own research and development. Through an international distribution network, SolarWorld supplies customers all over the world with solar modules and complete systems. The company maintains high social standards at all locations across the globe, and has committed itself to resource- and energy-efficient production. SolarWorld has been publically traded on the stock market since 1999. More information at www.solarworld.de/en