DGAP-Adhoc: SolarWorld AG: Preliminary financial results for first half of 2013

SolarWorld AG  / Key word(s): Preliminary Results/Half Year Results

18.07.2013 17:14

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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Ad hoc announcement pursuant to § 15 WpHG 

July 18, 2013
Ad hoc service by SolarWorld AG
(Securities Code No.: WKN 510 840)
(International Securities Identification Numbers: 
ISIN DE0005108401, ISIN XS0641270045 and ISIN XS0478864225)

SolarWorld AG: Preliminary financial results for first half of 2013

As expected, SolarWorld AG sold fewer solar power modules and kits in the
first half of 2013 than in the same period last year. According to
preliminary calculations, groupwide shipments including the solar wafer
business reached 233 MW in the first half of 2013 (H1 2012: 334 MW). The
company recorded a downturn above all in the domestic market of Germany,
which is expected to decrease from about 7 GW to 4 GW. Here, customers'
hesitancy resulting from the necessary restructuring process of SolarWorld
also affected SolarWorld's business.

Declining shipments and persistent price pressure due to dumping modules
have also led to a reduction in the consolidated revenue compared to the
first half of last year. SolarWorld achieved a total revenue of about EUR
201 (H1 2012: EUR 340) million, including the solar wafer business.
Consolidated earnings before interest, taxes, depreciation and amortization
(EBITDA) rose in the first half of the year to about EUR -37 (H1 2012: EUR
-99) million. Consolidated earnings before interest and taxes (EBIT)
improved to about EUR -69 (H1 2012: EUR -144) million.

As at June 30, 2013, liquid funds amounted to EUR 162 (December 31, 2012:
EUR 224) million. The reduction can be mainly attributed to the payment of
interests and investments in technologies of the future. Cash flow from
operating activities amounted to EUR -9 (H1 2012: EUR -27) million.

As planned, SolarWorld AG is going to release its interim report on the
first half of 2013 on August 14, 2013. Noteholders and shareholders of
SolarWorld AG are expected to have passed the decisive resolutions to
implement restructuring measures by August 7, 2013. Apart from duties on
dumping modules, this should have a positive effect on sales in the further
year.

Bonn, July 18, 2013

SolarWorld AG
Management Board

Contact:
SolarWorld AG Investor Relations 
Phone: +49 228 55920-470; Fax: +49 228 55920-9470,
Email: placement@solarworld.de; Internet:
www.solarworld.de/en/investor-relations


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Language:     English
Company:      SolarWorld AG
              Martin-Luther-King-Straße 24
              53175 Bonn
              Germany
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, XS0641270045, XS0478864225
WKN:          510840
Listed:       Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
              Freiverkehr in Berlin, Hamburg, München, Stuttgart;
              Terminbörse EUREX
 
End of Announcement                             DGAP News-Service
 
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