SolarWorld AG (SWV.BE) continues to report impressive results. For Q1, profits rose by 122% over the previous year to 16.5 million EUR (previous: year 7.4 million EUR). Sales increased 43.7% to reach 83.2 million EUR (previous year: 57.9 million EUR).
The booming international solar power business in conjunction with stringent cost management are responsible for the results – EBITDA rose by 83% to 32.4 million EUR.(previous year: 17.7 million EUR) Group-wide earnings before interest and taxes (EBIT) doubled to 26.8 (previous year: 13.4) million EUR. The EBIT margin thus improved to 32.2 (previous year: 23.1) per cent. All the figures quoted are exclusive of the solar business activities of the Shell Group whose acquisition the group agreed in the first quarter of 2006. As of the third quarter of 2006 these activities will be consolidated.
On May 4, the company will celebrate the opening of its new highly automated Solarfab II, the worldwide leader in the production of solar power modules.
Including the acquisition of Shell Group’s solar silicon activities the SolarWorld Group is one of the three largest solar power companies in the world.
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