SolarWorld AG Tops a Billion Euros in Revenue
Feb 23, 2012 – Based on current estimates, public company 
SolarWorld AG recorded 794 MW in shipments for wafers and solar modules in the 2011 fiscal year (2010: 819 MW). The company achieved the greatest shipments growth in its solar module business outside of Germany. The ratio of international sales to total group sales grew to 68 percent in 2011 (2010: 59 percent).
In the 2011 fiscal year, SolarWorld AG once again managed to exceed one billion in revenue and generated an estimated 1,066 (2010: 1,322) million €.
The decline in revenue can be attributed to global excess capacities and the resulting dumping of module prices.
The preliminary EBITDA (earnings before interest, taxes, depreciations and amortizations) stands at 218 (2010: 281) million €. Pursuant to IAS 36, SolarWorld AG made significant impairment charges to its fixed assets for preliminary 313 million €.
These impairment charges mostly involved technologically out-dated production equipment. The resulting EBIT for the previous fiscal year is therefore -233 (2010: 193) million €.
In addition to impairments to the fixed assets, the EBIT was also influenced by other extraordinary effects such as the termination of wafer agreements and impairments to current assets. Due to these extraordinary effects, the adjusted EBIT stands at about 24 (2010: 193) million €.
The Management Board proposes dividends of 9 cents &euro per share in 2012 (2011: 19 cents €).
President Obama and the US Congress must push for more solar installations around the USA.
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