DGAP-News: SolarWorld AG / Key word(s): Quarter Results
SolarWorld AG increases shipments by 32 percent in first quarter
12.05.2011 / 07:56
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* Shipments go up by 32 percent
* Foreign quota of shipments is 77 percent
* Revenue grows by 3.3 percent
* EBIT increases to EUR 26.3 million
* EBIT margin amounts to 11.3 percent
* Consolidated net income for the quarter runs to EUR 12.5 million
In Q1 2011, SolarWorld AG increased its shipments of wafers and solar power
modules significantly. Compared to the first three months of the previous
year, the company boosted groupwide shipments by 32 percent to 185 (Q1
2010: 139) MW. A major contributing factor was the strong business abroad,
above all in the United States. The groupwide foreign quota in shipments
rose to 77 (Q1 2010: 49) percent.
Consolidated revenue went up by EUR 7.4 million to EUR 233.0 (Q1 2010:
225.6) million. The foreign quota of revenues rose to 71.2 (Q1 2010: 33.2)
percent. The EBIT margin in Q1 2011 amounted to 11.3 (Q1 2010: 11.5)
percent. Groupwide earnings before interest and tax (EBIT) rose to EUR 26.3
(Q1 2010: EUR 25.9) million in Q1 2011. Consolidated net income increased
in the first three months of the year by EUR 7.2 to EUR 12.5 (Q1 2010: EUR
5.3) million.
'We got off to a good start into the international solar business 2011,'
explains Dr.-Ing. E.h. Frank Asbeck, Chairman and CEO of SolarWorld AG. 'In
the first two months of the year, it is above all the winter weather in
Germany that somewhat delays our sales. However, we can compensate for this
with our strong foreign markets such as the United States. Since March, the
demand for our products has also picked up again in Germany.'
The group wants to strengthen its market position with highly efficient
production facilities and expanded capacities. On May 20, 2011, SolarWorld
AG will inaugurate the new module production facility Solar Factory III at
the German production site in Freiberg in the presence of Stanislaw
Tillich, the Minister-President of the Free State of Saxony. With the
commissioning of the new factory, SolarWorld will increase its module
capacity in Germany to 600 MW. Through this measure alone, the group will
create more than 250 additional jobs.
About SolarWorld AG: The SolarWorld AG Group (ISIN: DE0005108401) is a
worldwide leader in offering brand-name, high quality, crystalline
solar-power technology. Its strength is its fully integrated solar
production. From silicon as the raw material through wafers, cells and
modules all the way to turn-key solar systems of all sizes, the group
combines all stages of the solar value chain. The central business activity
is selling quality modules into the installation and distribution trades
and crystalline wafers to the international solar cell industry. Group
headquarters are located in Bonn, Germany. The group's largest production
facilities operate in Freiberg, Germany and Hillsboro in the U.S. State of
Oregon. Sustainability is the basis of the group strategy. Under the name
Solar2World, the group supports care projects using off-grid solar-power
solutions in developing countries, exemplifying sustainable economic
development. Worldwide, SolarWorld employs more than 3,600 people.
SolarWorld AG has been quoted on the stock exchange since 1999 and today is
listed on, among others, the TecDAX and ÃkoDAX as well as in the
sustainability index NAI.
Contact:
SolarWorld AG Investor Relations / Corporate Communications
Tel.-No.: +49/228/55920-470; Fax-No.: +49/228/55920-9470,
E-Mail: placement@solarworld.de; Internet: www.solarworld.de
End of Corporate News
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Language: English
Company: SolarWorld AG
Martin-Luther-King-StraÃe 24
53175 Bonn
Deutschland
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: placement@solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Hamburg, München,
Stuttgart; Terminbörse EUREX
End of News DGAP News-Service
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124202 12.05.2011
DGAP-News: SolarWorld AG increases shipments by 32 percent in first quarter
| Source: EQS Group AG