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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.

SolarWorld Real Value

SolarWorld manufactures and sells solar power solutions and in doing so contributes to a cleaner energy supply worldwide. As the largest solar producer in the United States and Europe, SolarWorld employs about 3,200 people and carries out production in Hillsboro, Ore., and Freiberg and Arnstadt, Germany. From the raw material silicon to solar wafers, cells and panels, SolarWorld manages all stages of production ‒ including its own research and development. The company maintains high social standards at all locations across the globe and is committed to resource- and energy-efficient production. Headquartered in Bonn, Germany, SolarWorld was founded in 1998 and has been publicly traded on the stock market since 1999. For more information, visit www.solarworld-usa.com.

Media Contact

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