SolarWorld AG Confirms Sales Increase in First Half of 2009

In the group interim report for the first half of 2009 just submitted, SolarWorld AG confirms the figures previously reported

In the group interim report for the first half of 2009 just submitted, SolarWorld AG confirms the figures previously reported. The company, which celebrates the 10th anniversary of its initial public offering this year, was able to increase its sales volume to 239 MW in the first half of 2009 – a plus of 26 per cent in comparison with the previous year. Group revenues in the period under review showed a change of -6.0 per cent to 401.6 (previous year: 427.1) million EUR. In spite of an industry-wide decline in prices of some 25 per cent SolarWorld AG also managed to achieve an EBIT margin of 20.7 (previous year: 27.8) per cent. Chairman and CEO Frank H. Asbeck: “Thanks to our strategy of producing along the entire solar value chain we can counteract the current price decline in the international solar market better than others”.

This competitive advantage is to be further expanded in the future. Thus, SolarWorld is today celebrating the topping-out ceremony of a new Research & Development center at the Freiberg site in Saxony in the presence of the Federal Minister of Education and Research, Prof. Dr. Annette Schavan. In the immediate vicinity of our production facilities a modern module and cell innovation center is being created on a total area of 8,500 square meters. Together with the already existing wafer innovation center we are building a technology campus that is unique in Europe with a company-owned pilot line along the solar value chain. As a result SolarWorld will in future be able to test new technologies even closer to real production conditions and thus particularly efficiently. “We invest in our research because in this way we can further optimize our production processes and continue to cut costs,” says Frank H. Asbeck.

The development of the other international production sites of SolarWorld AG is also proceeding according to schedule. The new wafer and cell production in Hillsboro/USA was successfully ramped up in the first half of the year 2009. At the second US location in Camarillo the conversion to a new module line could be completed successfully. In South Korea SolarWorld expanded its production facility by adding a new line for the manufacture of so-called rural modules for rural, off-grid applications in the first half of 2009.

SolarWorld is present in all important solar markets and can therefore respond flexibly to all current market developments. Frank H. Asbeck: “In addition, it makes ecological and economic sense to produce where the goods will be sold thus making transportation over long distances superfluous. So, in Europe for the European market, in the USA for the American market and in Asia for the Asian market”. For all SolarWorld sites worldwide the same standards apply according to internationally identical group specifications. The products are certified according to recognized standards like TÜV, UL or CE.

About SolarWorld AG: The SolarWorld AG group of companies (ISIN: DE0005108401) is a world leader in high-quality solar power technology. The company is exclusively dedicated to its core business of photovoltaic power generation and combines all activities of the solar industry from silicon as the raw material to turn-key solar power systems including recycling. SolarWorld is represented in all the world’s solar growth markets and predominantly produces in Germany and the USA. Its largest sites are located in Freiberg, Saxony, and Hillsboro, USA. The central group office is in Bonn. Worldwide sales of solar modules are secured by five sales offices in Germany, Spain, USA, South Africa and Singapore. The central element of the business in addition to the sale of turn-key solar systems and solar modules to the trade is the distribution of solar silicon wafers to the international solar cell industry. Apart from grid-coupled (on-grid) products, the SolarWorld Group sells off-grid solar power solutions. Under the name Solar2World the Group takes its ethical commitment to fair development also to emerging economies and developing countries, promoting in particular off-grid solar power solutions exemplary of sustainable economic development.

Sustainability is an integral element of SolarWorld’s corporate strategy. The corporate management is committed to sustainable, economically, ecologically and socially compatible growth. The company is listed at the stock market, among others in the technology index TecDAX, in the ÖkoDAX, in the Dow Jones STOXX 600, in the international MSCI-Index and in the sustainability indices DAXglobal Alternative Energy and NAI.

Contact:

SolarWorld AG Investor Relations / Corporate Communications,
Phone no. +49 (0) 228/55920-470; fax no. +49 (0) 228/55920-9470,
Email: placement@solarworld.de; Internet: www.solarworld.de