DGAP-Adhoc
SolarWorld AG exceeds shipment forecast in 2014 considerably
SolarWorld AG / Key word(s): Preliminary Results/Final Results
02.02.2015 07:55
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Preliminary business results for 2014
SolarWorld boosted groupwide shipments of solar modules and kits in fiscal
year 2014 by 55 percent to 849 (2013: 548) MW. Thus, the company
considerably exceeded its forecast to raise groupwide shipments by at least
40 percent in 2014.
SolarWorld achieved strong growth above all in the United States, where the
group nearly doubled shipments compared with the previous year. The United
States were SolarWorld's biggest market, reaching a share of 41 percent of
total shipments of modules and kits. In France, the United Kingdom and
Japan, SolarWorld was able to expand its business strongly, too. The German
solar market decreased significantly; against this market trend, SolarWorld
managed to increase shipments in its core business, i.e. sales of modules
and kits excluding turnkey large-scale projects.
Consolidated revenue in fiscal year 2014 increased by 26 percent to EUR 573
(2013: EUR 456) million.
Operating earnings before interest, taxes, depreciation and amortization
(EBITDA) improved in 2014 to EUR 109 (2013: EUR -147) million. Adjusted for
one-off effects, EBITDA rose to EUR 2 million and thus turned positive
again, as forecasted. One-off effects resulted from the initial accounting
of assets acquired from Bosch Solar Energy AG and from impairments in
connection with supply contracts renegotiated on better terms.
Consolidated earnings before interest and taxes (EBIT) improved accordingly
and rose to EUR 64 million in 2014. Adjusted for the one-off effects
mentioned above, EBIT grew considerably, too, by EUR 146 million to EUR -43
(2013: EUR -189) million.
Consolidated earnings before taxes (EBT) went up to EUR 574 (2013: EUR
-265) million. EBT included in addition a positive result from the
successful financial restructuring amounting to EUR 556 million.
SolarWorld was able to raise liquid funds during 2014 to EUR 177 (December
31, 2013: EUR 164) million.
Together with the whole Management Board of SolarWorld AG, CEO Dr.-Ing. E.
h. Frank Asbeck expects further strong growth for the group and an increase
of worldwide shipments to more than one gigawatt in 2015. After the
successful restructuring in 2014, SolarWorld will also turn operating EBIT
(previous year: EUR -43 million) back into positive territory in fiscal
year 2015.
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
02.02.2015 The DGAP 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, DE000A1YDDX6, DE000A1YCN14
WKN: A1YCMM, A1YDDX, A1YCN1
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
SolarWorld boosted groupwide shipments of solar modules and kits in fiscal
year 2014 by 55 percent to 849 (2013: 548) MW. Thus, the company
considerably exceeded its forecast to raise groupwide shipments by at least
40 percent in 2014.
SolarWorld achieved strong growth above all in the United States, where the
group nearly doubled shipments compared with the previous year. The United
States were SolarWorld's biggest market, reaching a share of 41 percent of
total shipments of modules and kits. In France, the United Kingdom and
Japan, SolarWorld was able to expand its business strongly, too. The German
solar market decreased significantly; against this market trend, SolarWorld
managed to increase shipments in its core business, i.e. sales of modules
and kits excluding turnkey large-scale projects.
Consolidated revenue in fiscal year 2014 increased by 26 percent to EUR 573
(2013: EUR 456) million.
Operating earnings before interest, taxes, depreciation and amortization
(EBITDA) improved in 2014 to EUR 109 (2013: EUR -147) million. Adjusted for
one-off effects, EBITDA rose to EUR 2 million and thus turned positive
again, as forecasted. One-off effects resulted from the initial accounting
of assets acquired from Bosch Solar Energy AG and from impairments in
connection with supply contracts renegotiated on better terms.
Consolidated earnings before interest and taxes (EBIT) improved accordingly
and rose to EUR 64 million in 2014. Adjusted for the one-off effects
mentioned above, EBIT grew considerably, too, by EUR 146 million to EUR -43
(2013: EUR -189) million.
Consolidated earnings before taxes (EBT) went up to EUR 574 (2013: EUR
-265) million. EBT included in addition a positive result from the
successful financial restructuring amounting to EUR 556 million.
SolarWorld was able to raise liquid funds during 2014 to EUR 177 (December
31, 2013: EUR 164) million.
Together with the whole Management Board of SolarWorld AG, CEO Dr.-Ing. E.
h. Frank Asbeck expects further strong growth for the group and an increase
of worldwide shipments to more than one gigawatt in 2015. After the
successful restructuring in 2014, SolarWorld will also turn operating EBIT
(previous year: EUR -43 million) back into positive territory in fiscal
year 2015.
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
02.02.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
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, DE000A1YDDX6, DE000A1YCN14
WKN: A1YCMM, 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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