SolarWorld released provisional figures for Fiscal Year 2005, showing that groups profits hit 52 million EUR, almost tripling from the previous year (18 million EUR).
Group sales grew over the previous year by more than 75 per cent reaching 355 (previous year: 199) million EUR. The return on sales improved to 15 (previous year: 9) percent. The return on equity of 24 (previous year: 14) percent reflects the increased profitability of the group business. As at 31 December 2005, the equity ratio amounted to 48 (previous year: 45) percent and emphasizes the group’s solid pattern of finance.
Earnings before interests, taxes, depreciations and amortizations (EBITDA) increased in comparison with 2004 by 120 percent to 108 (previous year: 49) million EUR. The group result before interests and taxes (EBIT) climbed by 170 percent to 88 percent (previous year: 33 million EUR). The EBIT margin thus improved to 25 (previous year: 17) percent. All business units practiced consistent cost management to make a contribution to the high margin result. The group-wide growth has led to a further growth of employment. In comparison with the previous year the number of employees increased by 143 staff to 759 men and women until the end of December 2005.
The SolarWorld AG Group will be – subject to the approval of the anti-trust authorities – one of the world’s three largest solar groups after the take-over of the crystalline solar silicon activities of the Shell Group. The company is active in all stages of the solar industry value chain.
After the IPO at the end of 1999, the company developed within a few years from a solar trading house to an integrated solar technology group increasing its headcount in the process to 759 people until the end of December 2005. Including the new employees at the Shell locations taken over the number of employees increased to 759 people by the end of December 2005. Including the new employees taken over from the Shell stations the number of employees worldwide increased to more than 1,300 persons.
The SolarWorld Group is active at all stages of the solar industry’s value chain – from raw silicon to turn-key solar power plants. The group has production facilities in Freiberg and in Sweden. In the course of the integration of the Shell activities production facilities in the USA and in Gelsenkirchen will be added. Freiberg is one of the most advanced integrated solar sites in the world where the SolarWorld Group will employ silicon to produce high quality solar wafers, solar cells and solar power modules.
SolarWorld AG is traded – among others – at the technology index TecDAX and the SME index GEX. As at 31 December 2005 the equity ratio amounted to 48.1 percent (previously 45.1 percent) thus underlining the sound financial structure of the group of companies.
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