SolarWorld Confirms Revenues Increase in Course of Year - Expansion Creates Basis for Further Growth - Technology Fast 50 Award Won in Tenth Year after IPO12-11-09
SolarWorld AG confirms the figures it previously announced in submitting its consolidated interim report for the third quarter of 2009. The group was able to increase its shipments in the third quarter by 15 per cent to 125 (same quarter of previous year: 109) MW and YTD by 22 per cent. Sales revenues in the third quarter amounted to 232.5 (same period last year: 238.3) million EUR in the third quarter and rose by three per cent in comparison with the second quarter with module prices going in the opposite direction. In the first nine months group-wide revenues added up to 634.1 (same period of the previous year: 665.4) million EUR. Chairman and CEO Frank H. Asbeck comments, “We 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.“
Currently, all the SolarWorld production sites are working at their capacity limits. With an expansion of its capacity the company lays the foundation for further growth: The module production in the USA will be expanded to 500 MW and in Germany to 450 MW. In South Korea 300 MW will be available in the future. Frank H. Asbeck, “We thus clearly show our commitment to our current strategy and our production sites. This is where we find optimum background conditions and at the same time they ensure our presence in the most important markets.”
This year SolarWorld AG is again among the most vigorously growing German technology companies. With its 5-year growth rate of 350.3 per cent the group received the “Technology Fast 50 Award“ from the business consultancy Deloitte as one of 50 companies in the areas of technology, communication and life science in Hamburg on 21 October.
SolarWorld AG is celebrating its tenth anniversary at the stock exchange these days. The IPO took place on 8 November 1999. In 2004 SolarWorld rose into the TecDAX by way of the so-called Fast Entry Rule. Today the company is also traded among others in the ÖkoDAX, in the Dow Jones STOXX 600, in the international MSCI Index as well as in the sustainability indices DAXglobal Alternative Energy and NAI.
About SolarWorld AG
The SolarWorld AG group of companies (ISIN: DE0005108401) is a world leader in high-quality solar power technology. The company is exclusively dedicated to its core business of photovoltaic power generation and combines all activities of the solar industry from silicon as the raw material to turn-key solar power systems including recycling. SolarWorld is represented in all the world’s solar growth markets and predominantly produces in Germany and the USA. Its largest sites are located in Freiberg, Saxony, and Hillsboro, USA. The central group office is in Bonn. Worldwide sales of solar modules are secured by five sales offices in Germany, Spain, USA, South Africa and Singapore. The central element of the business in addition to the sale of turn-key solar systems and solar modules to the trade is the distribution of solar silicon wafers to the international solar cell industry. Apart from grid-coupled (on-grid) products, the SolarWorld Group sells off-grid solar power solutions. Under the name Solar2World the Group takes its ethical commitment to fair development also to emerging economies and developing countries, promoting in particular off-grid solar power solutions exemplary of sustainable economic development.
Sustainability is an integral element of SolarWorld’s corporate strategy. The corporate management is committed to sustainable, economically, ecologically and socially compatible growth. SolarWorld AG employs about 2,700 people worldwide.
SolarWorld AG Investor Relations / Corporate Communications,
Phone no. +49 (0) 228/55920-470;
fax no. +49 (0) 228/55920-9470,