Solarworld AG increases revenue by 50 percent
Bonn, Germany - In the first quarter of 2015, Solarworld AG increased groupwide shipments of solar power modules and kits by 44 percent to 202 (Q1 2014: 140) MW.
Consolidated revenue in Q1 2015 grew by 50 percent, thus increasing disproportionally compared with shipments to EUR 149 (Q1 2014: 99) million. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose to EUR 3 (2013: 1.6) million. This positive trend can be attributed among other factors to operative measures to improve efficiency and the cost structure at all locations. EBITDA of previous year's first quarter included positive one-off effects amounting to EUR 136 million which resulted from the initial accounting of the acquisition of the solar activities from Bosch Solar Energy AG. Including this one-off effect, EBITDA in Q1 2014 amounted to EUR 137 million.
Consolidated earnings before interest and taxes (EBIT) reached EUR -8 (Q1 2014: 127) million. Previous year's quarter also included the one-off effects mentioned above. At the end of the quarter, the group had liquid funds in an amount of EUR 148 (Dec. 31, 2014: 177) million. The reduction can mainly be attributed to interest payments and repayments including an unscheduled partial repayment as well as investments in the expansion of production capacities.
Source: IWR Online, 27 Apr 2015