Q1 results: SolarWorld group balances module price decreases with cost reduction plus growth in sales to boost operational profit
Bonn, Germany / Hillsboro, Ore., May 5, 2009 – The SolarWorld group got 2009 off to a successful start with its sales campaigns for a "Rooftop Piggy Bank" (Germany) and "Do the Bright Thing" (U.S.), highlighting photovoltaic systems as secure investments amid uncertain times.
Group sales rose by 5 percent to 176 million euros in the first quarter, compared with 167 million in the same quarter the previous year. Earnings before interest and tax (EBIT) reached 39 million euros, the same as the first quarter of 2008. The EBIT margin amounted to 22.2 percent, down slightly from 23.2 percent. Net earnings went up to 24 million euros, compared with 19 million in the year-ago quarter.
About SolarWorld AG
SolarWorld AG manufactures solar power systems and in doing so contributes to a cleaner energy supply worldwide. The company, located in Bonn, employs approximately 3,000 people and carries out production in Freiberg, Germany, and Hillsboro, USA. From raw material silicon to the solar module, SolarWorld manages all stages of production ‒ including its own research and development. Through an international distribution network, SolarWorld supplies customers all over the world with solar modules and complete systems. The company maintains high social standards at all locations across the globe, and has committed itself to resource- and energy-efficient production. SolarWorld has been publically traded on the stock market since 1999 and is quoted in the technology index TecDax. SolarWorld achieved sales of about one billion Euros for the fiscal year 2011. More information at www.solarworld-usa.com.
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