DGAP-News: SolarWorld AG: Business results for first half of 2013

DGAP-News: SolarWorld AG: Business results for first half of 2013

DGAP-News: SolarWorld AG / Key word(s): Half Year
SolarWorld AG: Business results for first half of 2013

14.08.2013 / 08:58


Aug. 14, 2013
Corporate News SolarWorld AG 
(Securities Code No.: WKN 510 840)
(International Securities Identification Numbers: 
ISIN DE0005108401, ISIN XS0641270045 and ISIN XS0478864225)

SolarWorld AG: Business results for first half of 2013

  - Shipments: 233 (H1 2012: 334) MW

  - Total revenue: EUR 201 (H1 2012: EUR 340) million

  - EBITDA: EUR -37 (H1 2012: EUR -99) million

  - EBIT: EUR -69 (H1 2012: EUR -144) million

  - Consolidated result: EUR -82 (H1 2012: EUR -161) million

SolarWorld AG has confirmed preliminary figures reported on July 18, 2013.
During the first half of 2013, the company sold fewer solar power modules
and kits than in the same period last year. Groupwide shipments, including
the solar wafer business, reached 233 MW in the period (H1 2012: 334 MW).
Declining shipments and persistent price pressure due to dumped modules
have reduced consolidated revenue, compared with the first half of last
year. SolarWorld achieved total revenue of about EUR 201 (H1 2012: EUR 340)
million including the wafer business.

Consolidated earnings before interest, taxes, depreciation and amortization
(EBITDA) rose in the first half of the year to about EUR -37 (H1 2012: EUR
-99) million. Consolidated earnings before interest and taxes (EBIT)
improved to about EUR -69 (H1 2012: EUR -144) million. Consolidated results
after taxes improved to EUR -82 (H1 2012: EUR -161) million.

Cash flow from operating activities also improved during the first half of
2013 by EUR 18 million, reaching EUR -9 (H1 2012: EUR -27) million. As at
June 30, 2013, liquid funds amounted to EUR 162 (December 31, 2012: EUR
224) million. The reduction can be mainly attributed to the payment of debt
interest and investments in new technologies.

Dr.-Ing. E. h. Frank Asbeck, CEO and Chairman of the Management Board of
SolarWorld AG, stated: 'Last week, noteholders and shareholders of
SolarWorld AG cleared the road for restructuring with an overwhelming
majority. This outcome will have a positive effect on our business for the
rest of the year. Our new products will boost our sales. Quality and
innovation strength are our best arguments to survive in the continuing
tough competitive climate.'

About SolarWorld AG: SolarWorld AG manufactures solar power systems and in
doing so contributes to a cleaner energy supply worldwide. The company,
located in Bonn, employs approximately 2,500 people and carries out
production in Freiberg, Germany, and Hillsboro, USA. From raw material
silicon to the solar module, SolarWorld manages all stages of production ‒
including its own research and development. Through an international
distribution network, SolarWorld supplies customers all over the world with
solar modules and complete systems. The company maintains high social
standards at all locations across the globe, and has committed itself to
resource- and energy-efficient production. SolarWorld has been publically
traded on the stock market since 1999. More information at

SolarWorld AG Investor Relations 
Phone: +49 228 55920-470; Fax: +49 228 55920-9470,
Email: placement@solarworld.de; Internet:

End of Corporate News


14.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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


Language:    English                                              
Company:     SolarWorld AG                                        
             Martin-Luther-King-Straße 24                         
             53175 Bonn                                           
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, XS0641270045, XS0478864225             
WKN:         510840                                               
Listed:      Regulierter Markt in Düsseldorf, Frankfurt (Prime    
             Standard); Freiverkehr in Berlin, Hamburg, München,  
             Stuttgart; Terminbörse EUREX                         
End of News    DGAP News-Service  
225776 14.08.2013                                                      
Press spacebar to pause and continue. Press esc to stop.