sunways AG
Sunways AG english
Sunways posts a rise in sales and improved result in the third quarter
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
Targeted sales and results unlikely to be achieved in the financial year 2002 –
systems business adversely affected by weak economy
Constance, 14 November 2002 – Sunways AG (ISIN DE0007332207, German Stock Index
No. 733220) has further increased sales in the third quarter of the financial
year 2002 by 30% against the prior year and again significantly improved its
result. For the full financial year 2002, Sunways expects sales of EUR 23.5
million (+ 10%) and EBIT of EUR -1.8 million. Thus the initial goal to reach a
break-even result in the current year will not be achieved.
The solar cell segment, at EUR 1.7 million (prior year: EUR 0.6 million),
generated a 183% sales growth. Due to uncertainties in the market and the
decline in the economic situation, business in the solar systems area was very
restrained. Sales decreased by 9% to EUR 4.9 million (prior year: EUR 5.4
million). Sun-ways has significantly expanded its international sales: In the
solar cell segment, sales rose to 29%.
The result before interest and taxes (EBIT) further improved in the third
quarter: It amounted to EUR -0.4 million against EUR -1.1 million in the prior
year. The consolidated net loss was EUR 0.3 million (prior year: EUR 0.6
million).
Due to the weak market development, the Company expects sales for the fiscal
2002 to rise by 10% to EUR 23.5 million (prior year: EUR 21.3 million). EBIT is
again expected to decrease markedly against the prior year to approx. EUR -1.8
million (prior year: EUR -3.3 million).
Sunways has immediately responded to this development. The planned expansion of
production capacities will be carried out step by step and with a sense of
responsibility. In the first stage, production capacities will be extended from
currently 5 MW to 10 MW as of 1 January 2003. The solar cell business will
continue to gain importance. The increasing internationalisation is productive
in this segment as well. The systems business, which is currently affected by
the downturn in the overall German market, will be strengthened by new state-
of-the art products and intensive distribution efforts.
Contact: Sunways AG Investor Relations Macairestr. 3-5 D-78467 Konstanz
Telephone: +49 7531 99677-39 Fax: +49 7531 99677-548 e-Mail: ir@sunways.de
end of ad-hoc-announcement (c)DGAP 14.11.2002
——————————————————————————–
WKN: 733 220; ISIN: DE0007332207; Index:
Listed: Neuer Markt in Frankfurt;
Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und
Stuttgart
140155 Nov 02
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found