DGAP-News

SolarWorld AG: Significant growth in international markets

DGAP-News: SolarWorld AG / Key word(s): Half Year Results/Quarter Results
SolarWorld AG: Significant growth in international markets

15.08.2016 / 08:46
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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