SolarWorld AG / Half Year Results
14.08.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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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 industry from silicon as the raw material to turn-key
solar power system. SolarWorld AG is represented in all international solar
growth markets. The group is exclusively dedicated to its core business of
photovoltaic power generation, operating production facilities in Germany
and the USA. They in turn supply the SolarWorld AG sales offices in
Germany, Spain, USA, South Africa and Singapore. In South Korea SolarWorld
AG is currently building up a solar module production facility in order to
be able to serve the growing demand in Asia on the spot in the future. A
central element of the business in addition to the sale of turn-key solar
systems and solar modules to retailers 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 roof
Solar2World the group has pooled its ethical commitment to solar power
especially in developing countries.
SolarWorld AG employs about 2,000 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.
Contact:
SolarWorld AG Investor Relations / Marketing Communications,
Tel.-No.: +49 228 55920 -470; Fax-No.: +49 228 55920-9470,
E-mail: placement@solarworld.de
Internet: www.solarworld.de
DGAP 14.08.2008
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Language: English
Issuer: SolarWorld AG
Kurt-Schumacher-Straße 12-14
53113 Bonn
Deutschland
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 99
E-mail: placement@solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, München, Hamburg, Stuttgart;
Terminbörse EUREX
End of News DGAP News-Service
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DGAP-News: SolarWorld AG with consistently powerful 2nd quarter sales and earnings growth
| Source: EQS Group AG