DGAP-Adhoc: SolarWorld AG once again tops a billion Euros in revenue

| Source: EQS Group AG EQS Group AG 

SolarWorld AG  / Key word(s): Miscellaneous

23.02.2012 18:29

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Based on current estimates, SolarWorld AG recorded 794 MW in shipments for
wafers and solar modules in the 2011 fiscal year (2010: 819 MW). The
company achieved the greatest shipments growth in its solar module business
outside of Germany. The ratio of international sales to total group sales
grew to 68 percent in 2011 (2010: 59 percent).

In the 2011 fiscal year, SolarWorld AG once again managed to exceed one
billion in revenue and generated an estimated 1,066 (2010: 1,322) million
EUR. The decline in revenue can be attributed to global excess capacities
and the resulting dumping of module prices.

The preliminary EBITDA (earnings before interest, taxes, depreciations and
amortizations) stands at 218 (2010: 281) million EUR.
Pursuant to IAS 36, SolarWorld AG made significant impairment charges to
its fixed assets for preliminary 313 million EUR. These impairment charges
mostly involved technologically out-dated production equipment. The
resulting EBIT for the previous fiscal year is therefore  -233 (2010: 193)
million EUR.
In addition to impairments to the fixed assets, the EBIT was also
influenced by other extraordinary effects such as the termination of wafer
agreements and impairments to current assets. Due to these extraordinary
effects, the adjusted EBIT stands at about 24 (2010: 193) million EUR.

The Management Board proposes dividends of 9 cents EUR per share in 2012
(2011: 19 cents EUR).


Contact:
SolarWorld AG Investor Relations / Group Communication
Tel: 0228/55920-470; Fax: 0228/55920-9470
E-Mail: placement@solarworld.de; Internet: www.solarworld.de


23.02.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      SolarWorld AG
              Martin-Luther-King-Straße 24
              53175 Bonn
              Germany
Phone:        +49 (0)228 - 559 20 470
Fax:          +49 (0)228 - 559 20 9470
E-mail:       placement@solarworld.de
Internet:     www.solarworld.de
ISIN:         DE0005108401
WKN:          510840
Indices:      TecDAX
Listed:       Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
              Freiverkehr in Berlin, Hamburg, München, Stuttgart;
              Terminbörse EUREX
 
End of Announcement                             DGAP News-Service
 
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