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SolarWorld AG confirms First Quarter Profit Growth


With the presentation of its financial report for the first quarter of 2008 SolarWorld AG has confirmed its previously reported quarterly figures. In comparison with the first quarter of 2007 consolidated sales increased by 27.8 per cent to 167.5 (previous year: 131.1) million EUR. The share of international business went up to 63.2 (previous year: 59.0) per cent. After having been adjusted for expenditure grants/special effects from the acquisition of the Shell locations earnings before interests and taxes (EBIT) grew by 35.9 per cent to 39.1 (previous year: 28.8) million EUR. Including these effects the EBIT reached a total of 42.9 (previous year 34.7) million EUR. Consolidated net profit climbed by 62.0 per cent to 34.7 (previous year: 21.4) million EUR. This includes the proceeds from the divestment of 65 per cent of the shares of the Swedish solar module manufacturer GPV which are counter-balanced by a negative financial result in a similar order of magnitude. Equity ratio and liquidity continue at high level Also as far as the balance sheet is concerned the Group presents itself in its usual solid form at the end of the first quarter. The equity capital rose to 714.0 (31 December 2007: 691.5) million EUR. At 40.7 per cent the equity ratio remained at the same high level (40.6 per cent) as at the end of the year 2007. The cash flow from ongoing business activities increased because of the higher operating result and the reduction in working capital to 80.9 (previous year: -24.9) million EUR. The Group has thus been able to further strengthen its liquidity position: Free liquidity went up to 808.9 (year-end 2007: 792.9) million EUR. About SolarWorld AG The SolarWorld AG group of companies (ISIN: DE0005108401) is a world leader in high quality solar power technology. The company is involved at all levels of the solar value chain and combines all activities of the solar industry from silicon as the raw material to turn-key solar power systems. SolarWorld AG is represented in all the world’s solar growth markets. The group is exclusively dedicated to its core business of photovoltaic power generation operating production facilities in Germany, USA and South Korea. They in turn supply the SolarWorld AG 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 also sells off-grid solar power solutions that make an important contribution to the sustainable economic development of threshold and developing countries. Under the name Solar2World the group has pooled its ethical commitment to solar power especially in developing countries. SolarWorld AG employs 2,254 people worldwide. At the stock market the company is listed among others in the technology index TecDAX, 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. SolarWorld Press contact SolarWorld AG Martin-Luther-King-Straße 24 53175 Bonn Germany Contact Investor Relations: Tel.-Nr.: 0228/55920-470 Contact Press: Tel.-Nr.: 0228/55920-459 Fax-Nr.: 0228/55920-9470 E-Mail: placement(at) Internet:


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