SolarWorld AG: First Half 2005 Consolidated Profit of 18.5 Million EUR
Equals Result of Entire Year 2004 (18.1 Million EUR)
SolarWorld AG (ISIN: DE0005108401) has clearly continued the successful development of the previous quarters in the second quarter of 2005. From April through June 2005 consolidated profits increased in comparison with the previous year by more than 200% to 11.1 (second quarter 2004: 3.6) million EUR. In the first half of the year net profits rose to 18.5 (first half of 2004: 5.0) million EUR. Group sales also climbed to a record level. In the second quarter they reached 78.7 (second quarter 2004: 55.4) million EUR - an increase of 42%. From January through June the sales volume of the group increased to 136.6 (first half 2004: 90.8) million EUR.
The growth of the national and international solar business also made for another increase in the number staff. At the end of June a total of 684 women and men were working for the SolarWorld-Group. This means that the company created 125 new jobs in the last 12 months. The group-wide expansion of the business volume in conjunction with consistent cost management produced an increase of earnings before interest, tax, depreciation and amortization (EBITDA) to 22.6 million EUR in the second quarter (second quarter 2004: 11.3 million EUR), and in the first half to 40.3 (first half 2004: 18.2) million EUR. Earnings before interest and tax (EBIT) in the period from April through June climbed to 18.0 (second quarter 2004: 7.0) million EUR and in the first half to 31.4 (first half 2004: 10.0) million EUR. Earnings before tax (EBT) for the SolarWorld Group rose in the second quarter of 2005 to 16.9 (second quarter 2004: 5.7) million EUR and in the first half of the year to 28.9 (first half 2004: 7.5) million EUR. Also in balance sheet terms the group presented itself in good shape. As one of the major stability indicators the equity ratio as at 30 June 2005 amounted to 52%. The return on equity for the first six months of 2005 has more than doubled in comparison with the first half of 2004 to 10%.
In a letter dated 22 July 2005 the Fidelity Management & Research Company headquartered in Boston, USA, has communicated that its voting right in SolarWorld AG had exceeded the threshold of 10 per cent since 21 July 2005.