DGAP-Adhoc: SolarWorld AG announces preliminary financial results of first quarter 2014

SolarWorld AG  / Key word(s): Preliminary Results/Miscellaneous

06.05.2014 12:43

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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According to preliminary information, SolarWorld AG raised its group-wide
shipments by 41 percent to 154 (Q1 2013: 109) MW. In spite of this
increase, the consolidated revenue went down to EUR 99.4 (Q1 2013: EUR
112.2) million. The reduction of revenues can mainly be attributed to
one-off effects from the sale of two large-scale projects with high
revenues in the first quarter of 2013 as well as the price reduction in the
international solar market.

Consolidated earnings before interest, taxes, depreciation and amortization
(EBITDA) improved in the first quarter 2014 by EUR 159.2 million to EUR
137.2 (Q1 2013: EUR -22.0) million. This includes preliminarily calculated
earnings from the initial accounting of production lines and further assets
acquired from Bosch Solar Energy AG amounting to EUR 135.6 million.
Adjusted for this one-off, EBITDA reached EUR 1.6 million.

Consolidated earnings before interest and taxes (EBIT) rose in the first
three months 2014 to EUR 127.4 (Q1 2013:EUR -32.3) million. Adjusted for
the one-off from the acquisition mentioned above, EBIT amounted to EUR -8.2
million.

Consolidated financial earnings were strongly influenced by the successful
completion of the financial restructuring in the first quarter 2014 and
included profits from the restructuring of EUR 555.7 million. Consolidated
result after tax increased by EUR 594.2 million to EUR 550.1 (Q1 2013: EUR
-44.1) million.

At the balance sheet date March 31, 2014, SolarWorld AG had a positive
equity of EUR 321.4 (December 31, 2013: -243.1) million. The equity ratio
at the balance sheet date increased to 31.8 percent.

At the end of the quarter, the group had liquid funds of EUR 183.3
(December 31, 2013: EUR 163.7) million at its disposal.

The Management Board of SolarWorld AG has decided to sell its 6,164
treasury old shares (ISIN: DE000A1YCMM2) within the next five days via the
stock exchange in order to adjust its balance sheet. SolarWorld AG acquired
these shares in 2010 within a share repurchase program.

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


06.05.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and 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.de
Internet:     www.solarworld.de
ISIN:         DE000A1YCMM2, DE000A1YDED6, DE000A1YDDX6, DE000A1YCN14
WKN:          A1YCMM, A1YDED, A1YDDX, A1YCN1
Listed:       Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
              Freiverkehr in Berlin, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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