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SolarWorld AG reconfirms 2007 growth forecast

Operating EBIT grows by 29 per cent to 117 million EUR matching the 2006 operating result for the full year after only nine months

05-11-07v3

In the 3rd quarter of 2007 SolarWorld AG continued its growth pattern. 3rd quarter Group sales went up to 164.6 (previous year: 142.0) million EUR rising in the months from January through September by 46.4 per cent to 478.2 (previous year: 326.5) million EUR.

Driven by the dynamic international solar module and wafer business Earnings before Interest and Taxes (EBIT) from July through September increased by 67 per cent to 44.3 (previous year: 26.6) million EUR. Consolidated net earnings in the 3rd quarter went up to 24.7 (previous year: 14.4) million EUR. For the first nine months this meant an EBIT growth of 29 per cent to 117.4 (previous year: 91.1) million EUR. In the operating business the leading solar technology group has thus matched the 2006 total result already in the 3rd quarter. The Group ended the previous year with an operating EBIT of 118 million EUR. The operating annual profit for the year increased in the fist nine months to 64.9 (previous year: 54.5) million EUR.
The figures do not include the special effects from the current and the previous year resulting mainly from the acquisition and restructuring of the Shell activities. Due to last year’s high level of special effects the unadjusted EBIT in the 3rd quarter of 2007 at 55.4 million EUR fell short of the unadjusted EBIT of the same quarter of last year at 77.1 million EUR. Unadjusted the quarterly profit amounted to 30.6 (previous year: 63.3) million EUR. In the first nine months of the year the Group generated an unadjusted EBIT of 140.2 (previous year: 141.6) million EUR. The annual surplus amounted to 78.8 (previous year: 103.4) million EUR.
For the full year 2007 the Board of Management thus reconfirms its growth forecast according to which the Group will exceed sales (previous year: 515 million EUR) and the operating result of the previous year (adjusted EBIT 2006: 118 million EUR) by at least 20 per cent.



 
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