November 4, 2009

Bonn, Germany: SolarWorld Reports Third Quarter 2009 Results

SolarWorld Group revenues in third quarter amounted to € 232.5 million (previous year: 238.3) and rose in comparison with the second quarter of 2009 by three percent during a period of declining prices. In the first nine months, Group revenues totalled € 634.1 million (previous year: 665.4).

SolarWorld AG was able to increase the group-wide shipments by 15 percent to 125 MW (previous year: 109) in the third quarter and by 22 percent since the beginning of the year.

In the third quarter, EBIT was € 34.7 million (previous year: 90.8). The EBIT margin for the third quarter amounted to 15 per cent.

For the first three quarters of 2009 the Group reached an EBIT of €117.7 million (same period previous year: 209.3). This is equivalent to an EBIT margin of 19 percent in the first nine months of 2009.

Group income after taxes from continued operations in the third quarter ran to €16 million (previous year: 36.1) and YTD € 67.7 million (same period year: 109.8).

SolarWorld AG has thus succeeded in counteracting price declines through cost savings and a substantial increase in group-wide shipments.

Module production capacities will be increased to 500 MW in the United States, to 450 MW to 300 MW in Germany and South Korea because of all production sites are working under full load at their capacity limits.

The revenue forecast in 2009 over previous year's level with €1 billion as next stage's goal is confirmed.

Further details about: SolarWorld Group