Solarworld Drops to Nine-Year Low on 2012 Loss: Frankfurt Mover
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Solarworld AG, Germany’s biggest solar-panel maker, fell to a nine-year low in Frankfurt after estimating a loss equivalent to half of its share capital.
Solarworld, based in Bonn, declined 27 percent to 67 euro cents by the close, the lowest level since December 2003, after saying it sees a 2012 net loss of 520 million euros ($678 million) to 550 million euros under local accounting rules. The loss was mainly from writedowns on stakes in and loans to units and affiliates. Equity capital will be about minus 20 million euros to minus 50 million euros, it said in a statement.