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SolarWorld AG: Quarterly Figures Confirm Reported Sales and Profit Hike

SolarWorld Increases Operating Result by 51.8 per cent in the First Nine Months and Expects to Exceed the Profit Forecast for Fiscal Year 2008

14-11-08v3

With the presentation of the quarterly report SolarWorld AG confirms the provisional figures announced ahead of time. Accordingly, group sales in the 3rd quarter of 2008 rose versus the previous year by 47.2 per cent to 238.3 (previous year: 161.9) million EUR and in the first nine months by 41.6 per cent to 665.4 (previous year: 470.1) million EUR. The expansion of the international trading business made a contribution to this increase. The share of foreign business rose from January through September by 11 percentage points to 59 per cent. The result before interest and tax (EBIT) rose in the 3rd quarter by 67.4 per cent to 90.8 million EUR and in the first nine months by 51.7 per cent to 209.3 million EUR. The group result went up from July through September by 18.1 per cent to 36.1 million EUR and since the beginning of the year by 56.3 per cent to 123.3 million EUR. Liquidity rose to 830 million EUR – Capital market risks consistently contained With a view to the balance sheet the group presents itself as solid and strong in the 3rd quarter of the year. The equity ratio at 40.3 (31 December 2007: 40.6) per cent is at a consistently high level. Free liquidity rose versus the end of the year 2007 by 38 million EUR to 831 million EUR. The cash flow from ongoing business activities increased, thanks to the growth in operating profit, in the first nine months to 208.4 (previous year: 165.6) million EUR. Investments added up to 179 (previous year: 84) million EUR and reflected the build-up of the integrated cell and wafer production in the USA. The SolarWorld has freed the balance sheet of all currently identifiable capital market risks. Thanks to the expansion of the international business the number of people employed by SolarWorld has risen since the beginning of the year by 236 women and men to 2,254. The order situation in the external wafer business continued to show a gratifying development in the 3rd quarter. New deals made our long-term order book go up to 7 billion 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)solarworld.de Internet: www.solarworld.de

 



 
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