August 14, 2013 - 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 233MW in the period (H1 2012: 334MW). 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 € 201 (H1 2012: € 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 € –37 (H1 2012: € –99) million. Consolidated earnings before interest and taxes (EBIT) improved to about € –69 (H1 2012: € –144) million. Consolidated results after taxes improved to € –82 (H1 2012: € –161) million.
Cash flow from operating activities also improved during the first half of 2013 by € 18 million, reaching € –9 (H1 2012: € –27) million. As at June 30, 2013, liquid funds amounted to € 162 (December 31, 2012: € 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."