DGAP-News: SolarWorld AG: SolarWorld AG releases medium-term plan for 2014 to 2016 - Cleansing as part of financial restructuring

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| Source: EQS Group AG
DGAP-News: SolarWorld AG / Key word(s): Results Forecast/Miscellaneous
SolarWorld AG: SolarWorld AG releases medium-term plan for 2014 to
2016 - Cleansing as part of financial restructuring

19.02.2014 / 14:02

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The continuing crisis in the solar industry and political developments make
it difficult to forecast future business development. Nevertheless, in
November 2013 SolarWorld compiled a medium-term plan for the years 2014 to
2016, which was validated by PwC. As basis of its planning, the Management
Board of SolarWorld assumes that during 2014 the solar industry will have
reached the final stage of consolidation. Whilst global demand for solar
energy products is likely to continue to grow in 2014, prices will probably
remain at the current level. SolarWorld expects that market growth will
also have an effect on its own sales development.

In line with our sales strategy, in 2014 SolarWorld is planning to increase
the share of sales of complete solar systems both in the private household
segment as well as in international project business. A prerequisite for
implementing these plans is the successful implementation of the approved
measures to restructure the financial liabilities and balance sheet by the
end of February 2014. Under these assumptions, the SolarWorld Group is
planning to increase shipments of modules and kits in 2014 by at least 40
percent compared with the previous year (548 MW). This rise is intended to
be generated in all sales markets. As a result of volume growth and a
higher share of the system business, SolarWorld is planning with revenues
of over EUR 680 million for 2014 and an increase to more than EUR 1 billion
in 2016.

The operational restructuring measures shall take effect during the course
of 2014. The Management Board is therefore expecting a positive result
before interest, taxes and depreciation (EBITDA) in 2014 of more than EUR
10 million. On this basis, a positive cash flow from operating activities
is also expected. The operating result (EBIT) 2014 is likely to be between
EUR -35 million and EUR -20 million. For 2015 the SolarWorld Group is
expecting a positive operating result as well as further increases in
revenues of over 20 percent.

In this context, the Management Board of SolarWorld AG would expressly like
to point out that the assumptions and framework conditions used for the
corporate planning might be subject to changes.

The above information (cleansing) is being released as part of the
restructuring, which should be closed by the end of February 2014.

About SolarWorld AG: SolarWorld AG manufactures solar power systems and in
doing so contributes to a cleaner energy supply worldwide. The company,
located in Bonn, employs approximately 2,400 people and carries out
production in Freiberg, Germany, and Hillsboro, USA. From raw material
silicon to the solar module, SolarWorld manages all stages of production ‒
including its own research and development. Through an international
distribution network, SolarWorld supplies customers all over the world with
solar modules and complete systems. The company maintains high social
standards at all locations across the globe, and has committed itself to
resource- and energy-efficient production. SolarWorld has been publically
traded on the stock market since 1999. More information at
www.solarworld.de/en
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


End of Corporate News

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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:        DE000A1YCMM2, DE000A1YC293, DE000A1YC3A6             
WKN:         A1YCMM                                               
Listed:      Regulierter Markt in Düsseldorf, Frankfurt (Prime    
             Standard); Freiverkehr in Berlin, Hamburg, München,  
             Stuttgart                                            
 
 
End of News    DGAP News-Service  
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