SolarWorld increases shipments in first half of 2015 by one third
In the first half of 2015, SolarWorld AG increased groupwide shipments of solar power modules and kits by 32 percent to 440 (H1 2014: 333) MW. The company achieved strong growth above all in the United States, where SolarWorld was able to double its shipments. Due to the strong export business, the foreign quota of shipments of modules and kits increased by 7 percentage points to 87 (H1 2014: 80) percent.
Consolidated revenue in H1 2015 grew stronger than shipments, increasing by 40 percent to € 320 (H1 2014: 228) million.
SolarWorld AG managed to improve its operating performance in the first half of 2015 compared with the previous year, too. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to € 10 (H1 2014, adusted for one-off effects: 1) million and earnings before interest and taxes (EBIT) to € "“12 (H1 2014, adjusted for one-off effects: "“19) million.
In Q2 2015, SolarWorld was able to continue the positive trend in its operating performance of this year's Q1. EBITDA improved to € 7 (Q1 2015: 3) million and EBIT to € "“4 (Q1 2014 "“8) million.
At the end of the quarter, the group had liquid funds in an amount of € 141 (March 31, 2015: 148) million. The reduction can mainly be attributed to interest payments and investments in the expansion of production capacities.
The Management Board of SolarWorld AG confirms its forecast for the year 2015 with an increase of groupwide shipments by at least 25 percent versus the previous year to more than one gigawatt as well as an increase of group revenue by at least 25 percent to more than € 700 million.
SolarWorld believe it will turn operating EBIT (2014: € "“44 million) back into positive territory in fiscal year 2015. EBITDA (excluding potential one-off effects) in fiscal year 2015 should also exceed previous year's level (2014: € 2 million) significantly.
