SolarWorld Increases First Half 2010 Revenue by Some 50 Percent
Online Annual Report Receives LACP Award
Presenting its group interim report for the first half of 2010, SolarWorld confirms previously reported figures. Compared with the same period of 2009, groupwide shipments in the first half of 2010 rose 58 percent to 377 (first half 2009: 239) MW. Revenue grew by 50.8 percent to € 608.4 (first half 2009: € 403.4) million. EBIT for the first half of the year amounted to € 81.2 (first half 2009: € 83.3) million while the EBIT margin ran to 13.3 percent. “We were able to make use of the dynamic development of the international solar markets,“ says Dr. Ing. h.c. Frank Asbeck, chairman and CEO of SolarWorld AG. “The worldwide production sites are working at full capacity; capacity expansion is proceeding according to plan. We are investing in highly advanced, efficient manufacturing facilities. SolarWorld is fit for the markets of the future.”
In early September, machines for module production at the U.S. site in Hillsboro/Oregon will be ramped up. The plan is for a year-end capacity of 350 MW. Cell production increased by around 35 percent in the first half of the year and will reach full capacity utilization by the first quarter of 2011. Marketing measures were stepped up in the United States, the important market of the future. Since the middle of July, Larry Hagman, renowned as oil baron J.R. Ewing from the TV series “Dallas,” has starred in advertising for SolarWorld and solar energy’s turnaround in the United States. Capacities also are increasing at the German SolarWorld location in Freiberg/Saxony. A new 250 MW wafer-production facility was inaugurated at the end of May. In Freiberg, the capacity can be increased to a total of 1 GW. In early July, the foundation stone was laid for a new module-production site, Solar Factory III, to boost SolarWorld’s module capacity to 550 MW. Dr. Ing. h.c. Frank Asbeck, “The European markets will grow vigorously, first and foremost in Italy but also in France and in Eastern Europe. Our Freiberg production site is located right in the heart of Europe, securing short transport routes to all these markets for us.”
SolarWorld faces the increased international requirements when it comes to reporting, too. Its online annual report for fiscal year 2009 received a Gold Award from the League of American Communications Professionals (LACP). Philipp Koecke, chief financial officer of SolarWorld AG, “We are delighted with this award because the importance of good online communications is increasing constantly. The annual report serves as a reliable worldwide source of information. By way of global access facilities of the World Wide Web, we are increasing transparency and reaching an enlarged audience.” The award is among the largest competitions for annual reports.
About SolarWorld AG
The SolarWorld AG Group (ISIN: DE0005108401) is a worldwide leader in offering brand-name, high quality, crystalline solar-power technology. Its strength is its fully integrated solar production. From silicon as the raw material through wafers, cells and modules all the way to turn-key solar systems, including recycling, the group combines all stages of the solar value chain. The central business activity is selling quality modules into the installation and distribution trades and crystalline wafers to the international solar cell industry. Group headquarters are located in Bonn, Germany. Production sites are to be found in Germany, the United States and South Korea. The group´s largest production facilities operate in Freiberg, Germany and Hillsboro in the U.S. State of Oregon. Sustainability is the basis of the group strategy. Under the name Solar2World, the group supports care projects using off-grid solar-power solutions in emerging economies and developing countries, exemplifying sustainable economic development. Worldwide, SolarWorld employs more than 2,900 people. SolarWorld AG has been quoted on the stock exchange since 1999 and today is listed on, among others, the TecDAX, ÖkoDAX, Dow Jones STOXX 600 as well as in the sustainability indices DAXglobal Alternative Energy and NAI.
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