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 the SolarWorld group
The SolarWorld group (ISIN: DE0005108401) is a worldwide leader in offering brand-name, high-quality, crystalline solar-power technology. Its strength is its fully integrated solar production. From silicon as the raw material through wafers, cells and modules all the way to turn-key solar systems, including recycling, the group combines all stages of the solar value chain. The central business activity is selling quality modules into the installation and distribution trades and crystalline wafers to the international solar cell industry. Group headquarters are located in Bonn, Germany. Production sites are to be found in Germany, the United States and South Korea. The group’s largest production facilities operate in Freiberg, Germany and Hillsboro in the U.S. state of Oregon. Sustainability is the basis of the group strategy. Under the name Solar2World, the group supports care projects using off-grid solar-power solutions in emerging economies and developing countries, exemplifying sustainable economic development. Worldwide, SolarWorld employs more than 2,700 people. SolarWorld AG has been quoted on the stock exchange since 1999 and today is listed on, among others, the TecDAX, ÖkoDAX, Dow Jones STOXX 600 as well as in the sustainability indices DAXglobal Alternative Energy and NAI.
www.solarworld-usa.com
Media Contact:
Ben Santarris
Public affairs manager
SolarWorld
25300 N.W. Evergreen Road
Hillsboro, OR 97124
Mobile: 503 927 9858
Office: 503 693 5189
ben.santarris(at)solarworld-usa.com