SolarWorld AG (SWV.DE) today confirmed double-digit increases in profits and sales for fiscal year 2007.
Group sales rose 35.6% over the previous year to EUR 698.8 million. The operating result before interest and tax (EBIT) climbed by 48.6% to EUR 174.5 million, while the operating profit before tax rose by 27.8% to EUR 151.6 million.
The net operating profit rose 33.7% to EUR 97.3 million.
Frank H. Asbeck, Chairman and CEO of SolarWorld AG said the company will propose to the Annual General Meeting a dividend increased to EUR 0.14 per share–up from EUR 0.10 last year
SolarWorld CFO Philipp Koecke said, "After our expansion policy of the last few years we are excellently positioned by international standards with an equity ratio of in excess of 40%. This is a reliable basis for further growth. The group can build on a sound liquidity basis. At year-end the liquid funds amounted to 792.9 million EUR".
SolarWorld also reported an "A+" rating through Global Reporting Initiative for its first sustainability report ever, published for 2007.
"As a global company we are committed to meeting the challenge of a sustainable development", Asbeck said. "For us sustainability means that economic, ecological and social aspects are consistently implemented from the vision and the strategy right down to the level of the operational business processes."
About SolarWorld AG
The SolarWorld AG group of companies is a world leader in high quality solar power technology. The company is involved at all levels of the solar value chain and combines all activities of the industry from silicon as the raw material to turn-key solar power system. The group is exclusively dedicated to its core business of photovoltaic power generation, operating production facilities in Germany and the USA.
In South Korea SolarWorld AG is currently building up a solar module production facility in order to be able to serve the growing demand in Asia. A central element of the business in addition to the sale of turn-key solar systems and solar modules to retailers is the distribution of solar silicon wafers to the international solar cell industry. Apart from grid-coupled (on-grid) products the SolarWorld Group also sells off-grid solar power solutions that make an important contribution to the sustainable economic development of threshold and developing countries.
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