SolarWorld AG (SWV.DE) expanded sales and earnings by double digit percentage amounts in 3Q08, the company announced.
Sales grew by 47.2% to 238.3 million EUR (previous year: 161.9), while the first nine month result increased by 41.5% to 665.4 million EUR(previous year: 470.1).
Group profit increased in 3Q by 17.3% to 35.9 million EUR (previous year: 30.6) and in the first nine months by 56.1% to 123.0 million EUR (previous year: 78.8).
The operating result before interest and tax (EBIT) went up from July through September by 67.3% to 90.7 million EUR (previous year: 54.2) and cumulatively as of September by 51.8% to 209.3 million EUR (previous year: 137.9).
SolarWorld AG said the company has taken all currently predictable capital market risks into consideration in its balance sheet. The group-wide rate of international business amounted to 59% (previous year: 49%).
The Management Board of SolarWorld AG expects to exceed the profit forecast for Fiscal Year 2008, according to a company release.
Last month the company opened a solar cell manufacturing facility in Hillsboro, Oregon, that will be the largest in North America if it reaches its full expected capacity of 500 megawatts (MW), projected for 2011.
About SolarWorld AG
SolarWorld has production facilities in Germany and the United States, including in California, Oregon and Washington, and is establishing a joint venture for module production in South Korea. The company delivers its products to market from sales offices in Germany, Singapore, South Africa, Spain and the United States.
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