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SolarWorld AG with consistently powerful 2nd quarter sales and earnings growth

14-08-08v3

With the submission of its financial report for the 2nd quarter of 2008 SolarWorld AG confirmed the quarterly figures reported previously. In comparison with the 2nd quarter of 2007 group sales went up by 46.6 per cent to 259.6 (previous year: 177.1) million EUR. In the 1st half of 2008 sales rose by 38.6 per cent to 427.1 (previous year: 308.1) million EUR. The share of international business could be substantially increased to 64.1 (previous year: 52.1) per cent. The operating result before interest and tax (EBIT) grew by 54.5 per cent to 75.7 (previous year: 49.0) million EUR in the 2nd quarter of 2008 and by 41.4 per cent to 118.5 (previous year: 83.8) million EUR in the 1st half of 2008. The group profit from continued activities improved in the 2nd quarter by 96.2 per cent to 51.8 (previous year: 26.4) million EUR and in the first six months of the year by 55.2 per cent to 73.7 (previous year: 47.5) million EUR. The group profit including discontinued activities increased due to the proceeds from the sale of shares in Gällivare PhotoVoltaic AB (GPV) of 13.4 million EUR to 87.1 (previous year: 48.2) million EUR. Equity ratio and liquidity continuing at a high level The sound structure of the SolarWorld balance sheet is reflected by the equity capital that has risen to 753.2 (31 December 2007: 691.5) million EUR. The equity ratio of 40.9 per cent remained at a constantly high level in comparison with the end of the year 2007 (40.6 per cent). The cash flow from ongoing business activities increased, especially because of the rise of the operating result, to 141.9 (previous year: 107.0) million EUR. The investments made in the 1st half of the year increased over the previous year by 44.3 million EUR to 106.2 (previous year: 61.9) million EUR. Free liquidity grew to 802.4 (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)solarworld.de Internet: www.solarworld.de

 



 
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