SolarWorld AG exceeds revenue forecast of 1 billion EUR
Full capacity utilization with 38 per cent increase in shipments enables the group to generate an operating result (EBIT) of 152 million EUR
In fiscal year 2009 SolarWorld AG was able to exceed its revenue forecast: As a result of the full utilization of the group’s production capacities consolidated revenues increased to 1,012.6 (previous year: 900.3) million EUR. Thus, it was possible for the group to outperform its revenue target in spite of an industry-wide decline of prices by one third due to a shipment increase by 38 per cent. The operating result (EBIT) amounted to 151.8 (previous year: 263.3) million EUR. Especially in the second half of the year the operating result was impacted by declines in module prices that could only partly be compensated for on the cost side in 2009. The financial result developed positively to -20.1 (previous year: -74.6) million EUR. The adjusted group profit for fiscal year 2009 amounted to 91.4 (previous year: 135.2) million EUR. In the year under review SolarWorld corrected its profit by 32.4 million EUR to account for deferred taxes because of a conservative reporting approach. The group profit thus amounted to 59.0 (previous year: 148.7) million EUR. The free liquidity of the SolarWorld Group currently stands at 936.0 million EUR. The continuous goal of reaching grid parity will be accompanied also in 2010 by a necessary module price reduction which in turn has to be compensated for by purchase price reductions, technological progress and efficiency increases.
At the same time we will increase our production volume as scheduled and intensify our investments in capacity expansion, in research and development and in the quality of the SolarWorld brand. We plan to continuously exceed the previous year’s revenue level of 1 billion EUR in 2010.
SolarWorld AG Investor Relations / Corporate Communications