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SolarWorld AG increased profits and sales group-wide in the double digits in fiscal year 2007. In the presentation of its Group Management Report the group confirms the results announced by way of the ad hoc announcements. Accordingly, group sales went up by 35.6 per cent over the previous year to EUR 698.8 (previous year: EUR 515.2) million.

The operating result before interest and tax (EBIT) climbed by 48.6 per cent to EUR 174.5 (previous year: 117.4) million while the operating profit before tax rose by 27.8 per cent to EUR 151.6 (previous year: EUR 118.6) million. The net operating profit rose by 33.7 per cent to EUR 97.3 (previous year EUR 72.8) million. All figures include discontinued operations (Gillivare PhotoVoltaic AB) and exclude special effects. If the special effects are included the group reached a net profit for the year of EUR 113.3 (previous year: EUR 130.6) million.

Image: www.freefoto.com

SolarWorld AG increased profits and sales group-wide in the double digits in fiscal year 2007. In the presentation of its Group Management Report the group confirms the results announced by way of the ad hoc announcements. Accordingly, group sales went up by 35.6 per cent over the previous year to EUR 698.8 (previous year: EUR 515.2) million.

The operating result before interest and tax (EBIT) climbed by 48.6 per cent to EUR 174.5 (previous year: 117.4) million while the operating profit before tax rose by 27.8 per cent to EUR 151.6 (previous year: EUR 118.6) million. The net operating profit rose by 33.7 per cent to EUR 97.3 (previous year EUR 72.8) million. All figures include discontinued operations (Gillivare PhotoVoltaic AB) and exclude special effects. If the special effects are included the group reached a net profit for the year of EUR 113.3 (previous year: EUR 130.6) million.

"In line with the increase in our operating profit we again want shareholders to participate in our business success", says Dipl.-Ing. Frank H. Asbeck, Chairman and CEO of SolarWorld AG. "We will therefore propose to the Annual General Meeting a dividend increased to 0.14 (previous year: 0.10) EUR per share." Also for the current year the Executive Board is expecting the group-wide growth to continue.

"We have significantly strengthened our worldwide presence thus successfully developing the acquisitions of the previous years", concluded Frank H. Asbeck the summary of the year just ended. "At this point I like quoting Arthur Schnitzler: ‚ÄöBeing ready is good; being able to wait is better; but being able to use the right moment is the best."

CFO Dipl.-Kfm. tech. Philipp Koecke referred to the sound financial situation of the company. "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 per cent. 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 EUR 792.9 million".

Source: SolarWorld AG