SolarWorld AG exceeds PV shipment forecast in 2014 considerably

The U.S were SolarWorld's biggest market in 2014. In France, the UK and Japan, SolarWorld was able to expand its PV business strongly, too
The U.S were SolarWorld's biggest market in 2014. In France, the UK and Japan, SolarWorld was able to expand its PV business strongly, too

SolarWorld AG (Bonn, Germany) boosted group-wide shipments of solar photovoltaic (PV) modules and kits in fiscal year 2014 by 55 percent to 849 megawatts (2013: 548 MW).

Thus, the company considerably exceeded its forecast to raise group-wide shipments by at least 40 percent in 2014.

 

The U.S were SolarWorld's biggest market, reaching a share of 41 percent of total shipments

SolarWorld achieved strong growth above all in the United States, where the group nearly doubled shipments compared with the previous year. The United States were SolarWorld's biggest market, reaching a share of 41 percent of total shipments of modules and kits.

In France, the United Kingdom and Japan, SolarWorld was able to expand its business strongly, too. The German solar PV market decreased significantly; against this market trend, SolarWorld managed to increase shipments in its core business, i.e. sales of PV modules and kits excluding turnkey large-scale projects.

Consolidated revenue in fiscal year 2014 increased by 26 percent to EUR 573 million (2013: EUR 456 million).

Operating earnings before interest, taxes, depreciation and amortization (EBITDA) improved in 2014 to EUR 109 million (2013: EUR -147 million). Adjusted for one-off effects, EBITDA rose to EUR 2 million and thus turned positive again, as forecasted. One-off effects resulted from the initial accounting of assets acquired from Bosch Solar Energy AG and from impairments in connection with supply contracts renegotiated on better terms.

 

SolarWorld aims at turning operating EBIT back into positive territory in fiscal year 2015

Consolidated earnings before interest and taxes (EBIT) improved accordingly and rose to EUR 64 million in 2014. Adjusted for the one-off effects mentioned above, EBIT grew considerably, too, by EUR 146 million to EUR -43 million (2013: EUR -189 million).

Consolidated earnings before taxes (EBT) went up to EUR 574 million (2013: EUR -265 million). EBT included in addition a positive result from the successful financial restructuring amounting to EUR 556 million.

SolarWorld was able to raise liquid funds during 2014 to EUR 177 million (December 31st, 2013: EUR 164 million).

Together with the whole Management Board of SolarWorld AG, CEO Dr.-Ing. E. h. Frank Asbeck expects further strong growth for the group and an increase of worldwide shipments to more than one gigawatt in 2015. After the successful restructuring in 2014, SolarWorld will also turn operating EBIT (previous year: EUR -43 million) back into positive territory in fiscal year 2015.

 

2015-02-02 | Courtesy: SolarWorld AG | solarserver.com © Heindl Server GmbH

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