SolarWorld increases operating result by 51.8 % in the first nine months

Bonn - SolarWorld AG further expanded sales and earnings by double digit percentage amounts in the 3rd quarter of 2008. In 3Q group sales grew by 47.2 percent to 238.3 (previous year: 161.9) million EUR and in the first nine months by 41.5 percent to 665.4 (previous year : 470.1) million EUR.

The operating result before interest and tax (EBIT) went up from July through September by 67.3 percent to 90.7 (previous year: 54.2) million EUR and cumulatively as per September by 51.8 percent to 209.3 (previous year: 137.9) million EUR.

The group profit could be increased in the 3rd quarter by 17.3 percent to 35.9 (previous year: 30.6) million EUR and in the first nine months by 56.1 percent to 123.0 (previous year: 78.8) million EUR.

SolarWorld AG has thus consistently taken all currently predictable capital market risks into consideration in its balance sheet.

The group-wide rate of international business amounted to 59 (previous year: 49) percent. The Management Board of SolarWorld AG expects to exceed the profit forecast for Fiscal Year 2008.

About SolarWorld (www.solarworld-usa.com)

SolarWorld (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 of all sizes, 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. 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 developing countries, exemplifying sustainable economic development. Worldwide, SolarWorld employs more than 3,300 people. SolarWorld AG has been quoted on the stock exchange since 1999 and today is listed on, among others, the TecDAX and ÖkoDAX as well as in the sustainability index NAI.

Media Contact:

Devon Cichoski
Media relations manager
SolarWorld Americas
4650 Adohr Lane
Camarillo, CA 93012
Mobile: 805-388-6388
Office: 805-377-2905
devon.cichoski(at)solarworld-usa.com