Q-Cells AG (QCE.DE) reports that for the first quarter 2007, it increased cell production by 45% to 78 MW peak (MWp).
Sales increased 43% to ¬163.5 million, EBIT improved by 37% to ¬36.2 million. Technological advances and cost reductions offset higher material costs and reduced sales prices.
Net income increased 40% to ¬23.8 million. Following the acquisition of the 17.9% stake in REC, the world’s largest manufacturer of silicon and silicon wafers for solar cell production, the pro rata profit was included in the Q-Cells AG result for the first time. This increases net income for the period by EUR 7 million.
Q-Cells raised its 2007 forecast to 360 MWp production, from its former forecast of 340 MWp. It increased the sales forecast from EUR 705 million to EUR 750 million.
For 2008, Q-Cells expects to achieve sales of approx. ¬1 billion and a return on sales of 13%. For 2009, it expects sales growth of 40%.
Loading...