SolarWorld preliminary results for first half of 2014: shipments surge 53%

Polaris solar PV net news: Germany SolarWorldAG solar panel manufacturer recently announced preliminary results for first half of 2014. According to preliminary results expected shipments soared to 53% in the first half, to 357 MW. The company stressed that big boost in shipments mainly from the United States and the United Kingdom, and France photovoltaic business by leaps and bounds.

Component business growth

Report pointed out that although the strong growth in overseas sales of PV modules, PV system sales are still lower than expected, primarily from Germany solar market’s weakness.

In view of the significant growth in components business, SolarWorld expected first-half sales up 13% from 201 million euros in the same period last year, to 228 million euros. However, under the influence of product mix shift, which is expected to total revenue slightly below expectations.

Preliminary earnings forecast by 36 million euros of one-time non-cash impairment (resulting from cooperation agreements with suppliers of raw materials) and the acquisition of BoschSolarEnergy assets, driven first half, SolarWorld, before interest, taxes, depreciation and amortization earnings (EBITDA) increased to 101 million euros, compared to 37 million euros in the same period last year. In addition, unadjusted earnings before interest and taxes (EBIT) increased to 81 million euros, 59 million euros in the same period of last year, but only after the adjustment of-19 million euros.

After paying 34 million euros of the total credit and interest, SolarWorld to 159 million euros of liquidity by the end of the first quarter of 2014; end of the first quarter of last year, liquidity is 183 million euro.

High order volume and dynamics of order total

SolarWorld said the company’s current orders at a high level, order total in a dynamic situation. For this reason, the companies are expected to meet the expected increase in shipments in the second half.

SolarWorld expected 2014 EBITDA million euros

As far as SolarWorld predicted that by the end of 2014, company EBITDA is expected to reach billions of euros, expressed in 2015 and operating profits are still positive.

Original title: SolarWorld preliminary results for first half of 2014: shipments surge 53%

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