SOLARWATT AG
SOLARWATT AG: SOLARWATT AG sees positive business trend in second half of 2011
SOLARWATT AG / Key word(s): Final Results 29.09.2011 / 15:40 --------------------------------------------------------------------- * Increase in sales and profits in 2010 * Losses in first six months of 2011, but good second half * Solarwatt is high-performance partner in transition towards renewable energies With sales of around 324 million euros and an EBITDA of 16 million euros, SOLARWATT AG managed to increase its profits again in 2010. Sales increased by 27 percent compared with the previous year and operating profit rose by 77 percent. While the first half of 2010 was dominated by the decrease in feed-in tariff payments under the German Renewable Energy Law and the related pull-forward effect, extremely steady specialist retailer business and project business in Italy and the Czech Republic were decisive in generating healthy profits in the second half. Sluggish project business in the first half of 2011 For SOLARWATT AG, the first half of 2011 was characterized by extensive changes in political determining factors. This led to weak demand in the Italian, French and German sales markets. The consequential build-up in large warehouse stocks resulted in a substantial fall in prices for solar modules. Like many other companies in the sector, SOLARWATT AG recorded 51.3 percent lower sales than the same period in the previous year, generating earnings of around 61 million euros. 'Our performance over this period ensures that we are still trading in the top third of the market, however. Our solid business model and a forward-looking financing strategy guarantee that we will continue to show a strong presence on the market. However, secure political framework conditions will certainly need to be in place,' explains Dr. Jürgen Bruns, CFO at SOLARWATT AG. Positive performance in the second half of 2011 Even though the market environment remains difficult, all signs point to further growth again in the second half of 2011. This period looks particularly promising for SOLARWATT AG thanks to attractive project business in Italy, France and the UK and partnerships arising from the transition towards renewable energy sources in Germany. 'SOLARWATT is one of the few companies in the photovoltaics sector where the label 'Made in Germany' actually means what it says. We will also remain true to our strategy of delivering optimum quality and manufacturing exclusively in Germany in the future. We will also continue to expand our business on an international level and consistently invest in new markets, products and services,' states Detlev Neuhaus, Sales and Marketing Director (CSO) at SOLARWATT AG. Effective partner in implementing energy transition In addition to a flux of incoming orders from abroad, SOLARWATT AG is also superbly positioned as a provider of innovative, all-inclusive photovoltaic packages and energy management systems in the residential and commercial sectors while also benefitting from its expertise as a planner and builder of turnkey solar power stations. With its efficient, all-inclusive solutions for a wide range of different applications, SOLARWATT offers both private and commercial customers fast, easy, cost-effective access to solar electricity, thus allowing consumers to escape rising electricity prices. SOLARWATT AG is also working in close cooperation with local energy suppliers to bring about a transition towards renewable energy sources. In August, SOLARWATT completed a 1.3 megawatt photovoltaic system for the German energy supplier eins energie in Saxony. SOLARWATT is currently building a nine megawatt ground-mounted system for the German-based energy supplier ewag, which will provide around 4,000 households with environmentally friendly electricity as from November 2011. About SOLARWATT: SOLARWATT AG, headquartered in Dresden, Germany and operating throughout Europe, is one of Germany's leading manufacturers for high quality crystalline solar modules and prime supplier for innovative photovoltaic packages and energy management systems. Since its foundation in 1993 the company has grown steadily and currently employs 490 employees. In 2010 SOLARWATT achieved a sales volume of 324 Million Euros. The company's product portfolio contains module types for various applications. Next to its core competency as a solar module manufacturer, SOLARWATT develops and markets intelligent energy management systems for the efficient control and optimal use of solar power. In another business unit the company develops and implements turnkey solar equipment and power plants. For photovoltaic projects in private households and the commercial sector, SOLARWATT offers product packages that contain, next to the complete solar technology, comprehensive service offers. SOLARWATT produces in one of Europe's most modernist manufacturing lines. The company's manufacturing capacity is 300MWp. The power spectrum of its exclusively in Germany produced modules ranges from 2 to 320 Watt. For further information: www.solarwatt.de Contact: Company SOLARWATT AG Sabine Penkawa Maria-Reiche-Straße 2a 01109 Dresden Germany Tel.: +49 351 8895-447 Fax: +49 351 8895-100 E-Mail: sabine.penkawa@solarwatt.de Media biallas-communication & consulting GmbH Carolin Hoppe Goseriede 4 30159 Hannover Germany Tel. +49 511 676698-281 Fax: +49 0511 676698-270 E-Mail: c.hoppe@biallas-cc.de End of Corporate News --------------------------------------------------------------------- 29.09.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 140800 29.09.2011
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