In Q1 2011, SolarWorld AG (Bonn. Germay) increased its shipments of solar wafers and solar photovoltaic (PV) modules significantly.

Compared to the first three months of the previous year, the company boosted group-wide shipments by 32 percent to 185 (Q1 2010: 139) MW. A major contributing factor was the strong business abroad, above all in the United States. The group-wide foreign quota in shipments rose to 77 percent (Q1 2010: 49%).

Consolidated revenue went up by EUR 7.4 million to EUR 233.0 million (Q1 2010: EUR 225.6 million). The foreign quota of revenues rose to 71.2 percent (Q1 2010: 33.2%).

EBIT increases to EUR 26.3 million; EBIT margin amounts to 11.3 percent

The EBIT margin in Q1 2011 amounted to 11.3 percent (Q1 2010: 11.5%). Group-wide earnings before interest and tax (EBIT) rose to EUR 26.3 million in Q1 2011 (Q1 2010: EUR 25.9 million).

Consolidated net income increased in the first three months of the year by EUR 7.2 million to EUR 12.5 million (Q1 2010: € 5.3 million).

“We got off to a good start into the international solar business 2011,“ explains Dr.-Ing. E.h. Frank Asbeck, Chairman and CEO of SolarWorld AG. “In the first two months of the year, it is above all the winter weather in Germany that somewhat delays our sales. However, we can compensate for this with our strong foreign markets such as the United States. Since March, the demand for our products has also picked up again in Germany.”

Module production capacity in Germany will increase to 600 MW

The group wants to strengthen its market position with highly efficient production facilities and expanded capacities. On May 20, 2011, SolarWorld AG will inaugurate the new module production facility Solar Factory III at the German production site in Freiberg in the presence of Stanislaw Tillich, the Minister-President of the Free State of Saxony. With the commissioning of the new factory, SolarWorld will increase its module capacity in Germany to 600 MW. Through this measure alone, the group will create more than 250 additional jobs.

2011-05-13| Courtesy: SolarWorld AG | solarserver.com © Heindl Server GmbH

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