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SolarWorld AG increases consolidated earnings in Q1 by 122 per cent to 16.5 million EUR


SolarWorld AG (ISIN: DE0005108401) continued its group-wide course of expansion in the first quarter of 2006. Group profits after tax rose according to preliminary calculations by 122.3 per cent over the previous year to 16.5 (previous: year 7.4) million EUR. Consolidated sales increased by 43.7 per cent to reach 83.2 (previous year: 57.9) million EUR. Return on sales improved to 19.8 (previous year: 12.8) per cent. The positive development of the international and the national solar power business in conjunction with stringent cost management caused the earnings before interest, taxes, depreciations and amortization (EBITDA) to go up by 83 per cent to 32.4 (previous year: 17.7) million EUR. Group-wide earnings before interest and taxes (EBIT) doubled to 26.8 (previous year: 13.4) million EUR. The EBIT margin thus improved to 32.2 (previous year: 23.1) per cent. All corporate divisions contributed to this high margin result. As at 31 March 2006 the equity ratio amounted to 64.0 (previous year: 49.8) per cent thus underlining the sound financial structure of the group. All the figures quoted are exclusive of the solar business activities of the Shell Group whose acquisition the group agreed in the first quarter of 2006. As of the third quarter of 2006 these activities will be consolidated.

In the course of the continuing growth process the solar technology group also increased the number of staff. At the end of the first quarter 783 women and men were working for SolarWorld AG and its group subsidiaries – a rise of 128 persons versus the figure at the end of March 2005.

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