SolarWorld AG reports a five fold increase in profit for the first quarter of 2005 (7.4 million euros) compared with the first quarter last year (1.47 million euros).
The first quarter tends to generate below average results because of the seasonal nature of the business, but the company still had record revenues of 57.9 (Q1 2004: 35.4) million euros.
Due to the rise in national and international solar energy business, combined with the Group’s consistent cost management, earnings before interest, taxes, depreciation and amortization (EBITDA) climbed to 17.7 (Q1 2004: 6.9) million euros.
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