DGAP-News: SolarWorld AG / Key word(s): Quarter Results/Miscellaneous
SolarWorld AG achieves strong Q1 2015
15.05.2015 / 08:59
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SolarWorld releases group interim report on first quarter of 2015 and
confirms its preliminary figures and forecast for 2015
In the group interim report on the first quarter of 2015 released today,
SolarWorld AG confirms its preliminary figures. In the first three months
of this year, the company increased groupwide shipments of solar power
modules and kits by 44 percent to 202 (Q1 2014: 140) MW. A major
contributing factor in this development was the business in the United
States where SolarWorld increased shipments by 170 percent to 116 (Q1 2014:
43) MW. This market had a share of 57 percent of SolarWorld's total
shipments of modules and kits. In Japan, Australia and South Africa,
SolarWorld achieved growth, too.
SolarWorld managed to increase its share of high efficiency modules in
groupwide shipments. In conjunction with exchange rate effects, the company
was able to increase average sales prices of its products on a euro basis,
resulting in a disproportionately large increase in revenues compared with
the increase in shipments. In the first quarter of 2015, consolidated
revenue grew by 50 percent to EUR 149.1 (Q1 2014: 99.4) million.
Consolidated earnings before interest, taxes, depreciation and amortization
(EBITDA) rose to EUR 2.9 (Q1 2014 adjusted for one-off effects: 1.6)
million. This positive trend can be attributed, among other factors, to
operative measures to improve efficiency and the cost structure at all
locations. Consolidated earnings before interest and taxes (EBIT) reached
EUR -8.0 (Q1 2014 adjusted for one-off effects: -8.2) million. Earnings of
previous year's first quarter included positive one-off effects amounting
to EUR 135.6 million, which resulted from the initial accounting of the
acquisition of the solar activities from Bosch Solar Energy AG. Including
these one-off effects, EBITDA in the first quarter of 2014 amounted to EUR
137.2 million and EBIT to EUR 127.4 million.
At the end of the first quarter 2015, the group had liquid funds in an
amount of EUR 148.4 (Dec. 31, 2014: 177.1) million. The reduction can
mainly be attributed to interest payments, repayments including an
unscheduled partial repayment as well as investments in the expansion of
production capacities and changes in working capital.
As announced earlier this year, SolarWorld expects to increase its
shipments including sales of solar wafers and cells in 2015 by at least 25
percent compared with 2014 and thus to exceed the mark of one gigawatt for
the first time. Consolidated revenue 2015 is also expected to rise by at
least 25 percent in comparison with previous year to more than EUR 700
million.
"The signs point to growth. We will boost shipments and revenue, expand our
capacities to this end and will further increase our efficiency and cost
structure, not least by investing in new technologies," says Dr.-Ing. E. h.
Frank Asbeck, CEO of SolarWorld AG. "On this basis, we will achieve a
positive EBIT without potential one-off effects in the entire fiscal year
2015 as planned."
Group interim report of SolarWorld AG on Q1 2015:
www.solarworld.de/financial-reports
SolarWorld REAL VALUE: SolarWorld manufactures and sells high-tech solar
power solutions and in doing so contributes to a cleaner energy supply
worldwide. The group, headquartered in Bonn, Germany, employs approximately
3,400 people and carries out production in Freiberg, Germany; Arnstadt,
Germany; and Hillsboro, USA. From raw material silicon to solar wafers,
cells and modules, SolarWorld manages all stages of production â including
its own research and development. Through an international distribution
network with locations in Europe, USA, Singapore, Japan and South Africa,
SolarWorld supplies customers all over the world. The company maintains
high social standards at all locations across the globe, and has committed
itself to resource- and energy-efficient production. SolarWorld was founded
in 1998 and 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; Web:
www.solarworld.de/en/investor-relations
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15.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: SolarWorld AG
Martin-Luther-King-StraÃe 24
53175 Bonn
Germany
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: placement@solarworld.com
Internet: www.solarworld.de
ISIN: DE000A1YCMM2, DE000A1YDDX6, DE000A1YCN14
WKN: A1YCMM, A1YDDX, A1YCN1
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Munich, Stuttgart
End of News DGAP News-Service
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357891 15.05.2015
DGAP-News: SolarWorld AG achieves strong Q1 2015
| Source: EQS Group AG