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.
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 relations manager
SolarWorld Industries America
4650 Adohr Lane
Camarillo, CA 93012