DGAP-News

SolarWorld AG will continue upward trend in 2015

DGAP-News: SolarWorld AG / Key word(s): Final Results/Forecast
SolarWorld AG will continue upward trend in 2015

26.03.2015 / 10:30

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- Shipments of 1 gigawatt to be exceeded in 2015

- Consolidated revenue to exceed EUR 700 million in 2015, and company
strives for a positive operating result in 2015

- Shipments in first quarter of 2015 increased by more than 30 percent,
compared with previous year's quarter

Today, the Management Board of SolarWorld AG presented the Annual Group
Report 2014 as part of a financial statements press conference in Bonn,
Germany. The largest solar manufacturer in Europe and the U.S. confirmed
its preliminary figures and provided a forecast for 2015.

After the successful conclusion of the financial restructuring and the
acquisition of the production facilities of the Bosch Solar Energy AG in
Arnstadt in Thuringia, Germany, SolarWorld was able to embark on a
significant growth course in international solar markets. In 2014,
groupwide shipments of solar power modules and kits grew significantly by
55 percent to 849 (2013: 548) MW. In the largest single market, the United
States, the group was able to nearly double shipments. SolarWorld also
achieved strong growth in France, the UK and Japan. In the declining German
solar market, the company registered gains in its core business, the sale
of modules and kits without large-scale turnkey projects.

Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG: "2014 was a year of
milestones. In a short period of time, we have made considerable progress
in sustainably leading the group back to the path of growth and
profitability. We were also able to secure Qatar Solar S.P.C. as a new
anchor investor, which holds 29 percent of shares in our company. "

Consolidated revenue increased in 2014 by 26 percent to EUR 573 (2013: EUR
456) million. Operating earnings before interest, taxes, depreciation and
amortization (EBITDA) improved to EUR 108 (2013: EUR -147) million. Effects
that resulted from the initial accounting of the assets acquired from Bosch
Solar Energy AG and impairment losses from renegotiated supply contracts at
better conditions contributed to this. Adjusted EBITDA amounted to EUR 2
million and turned back into positive territory again as expected.
Consolidated earnings before interest and taxes (EBIT) increased in 2014 to
EUR 62 million too. Earnings before taxes (EBT) grew to EUR 574 (2013: EUR