DGAP-News: SolarWorld AG / Key word(s): Half Year Results/Quarter Results
SolarWorld AG: Significant growth in international markets
15.08.2016 / 08:46
The issuer is solely responsible for the content of this announcement.
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SolarWorld AG: Significant growth in international markets
Group interim report with final business figures for Q2 2016 released
SolarWorld AG is proceeding on its path of growth. That is what the company
states in its group interim report for Q2 2016, in which it confirms its
preliminary figures for shipments and revenue and specifies its earnings
figures. Accordingly, the group increased its shipments in Q2 2016 by 39
percent to 342 (Q2 2015: 246) megawatts, compared with previous year's
quarter. Consolidated revenue rose by 30 percent to EUR 222 (Q2 2015: 171)
million. SolarWorld saw significant growth in its largest individual market
United States, which made up more than half of groupwide shipments and
revenue, as well as in Germany, other European markets, Asia and Africa.
The group also improved its operating performance. In Q2 2016, earnings
before interest, taxes, depreciation and amortization (EBITDA) increased to
EUR 16.4 (Q2 2015: 7.0) million; preliminary EBITDA: EUR 18.5 million. In
H1 2016, final EBITDA thus amounted to 18.5 (H1 2015: 9.9) million. In Q2
2016, SolarWorld improved its earnings before interest and taxes (EBIT) to
EUR 4.5 (Q2 2015: -4.2) million; preliminary EBIT: EUR 6.6 million.
Accordingly, final EBIT in H1 2016 amounted to EUR -5.2 (H1 2015: -12.2)
million. Preliminary earnings figures changed in the finalization process
of the consolidated interim financial statements.
"Our broad basis in international solar markets and our balanced product
portfolio have paid off. In the second quarter, driver for growth were our
leading technology in high efficiency modules. Our quality products with
standard power were also high in demand," says Dr.-Ing. E. h. Frank Asbeck,
CEO of SolarWorld AG.
In the second half of 2016, SolarWorld expects to be able to benefit from
the rising international demand. In the full year 2016, the group will
raise its shipments by more than 20 percent, compared with the previous
year (2015: 1,159 megawatts). Consolidated revenue shall also grow by more
than 20 percent (2015: EUR 763 million). SolarWorld is striving to reach up
to EUR 1 billion of revenue in 2016. EBIT will presumably come out in a
range between EUR -10 million and EUR +10 million.
Price pressure on the international solar market has increased since the
end of June. "I am convinced, however, that we will be able to maintain and
further expand our market position," says Frank Asbeck. SolarWorld focuses
its efforts on high-efficiency modules with PERC cells and five busbars as
well as its new Bisun modules and systems, which enable customers to gain
an extra yield of up to 25 percent. Furthermore, the group intends to
reduce production costs by further volume growth and by introducing new
technologies.
Consolidated Interim Report of SolarWorld AG on Q2 2016: 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 3,766 people
and operates facilities in Freiberg, Germany; Arnstadt, Germany; and
Hillsboro, Oregon, USA as well as in a joint venture with Qatar Solar
Technologies. From raw material silicon to solar wafers, cells and modules,
SolarWorld manages all stages of production ‒ including research and
development in its own company, SolarWorld Innovations. Through an
international distribution network with locations in Europe, USA,
Singapore, Japan, South Africa and Qatar, SolarWorld supplies customers all
over the world. The company upholds high social standards and commits
itself to resource- and energy-efficient production. SolarWorld was founded
in 1998 and has been publicly traded on the stock market since 1999. More
information at www.solarworld.com
Contact:
SolarWorld AG
Investor Relations
Phone: +49 228 55920-470;
Email: placement@solarworld.com; Web: www.solarworld.de/en/investor-
relations
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15.08.2016 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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Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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.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,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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492619 15.08.2016
DGAP-News: SolarWorld AG: Significant growth in international markets
| Source: EQS Group AG