29.03.2017
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DGAP-News: SolarWorld AG drives focusing on high power technology in 2017
DGAP-News: SolarWorld AG / Key word(s): Miscellaneous/Miscellaneous
SolarWorld AG drives focusing on high power technology in 2017
29.03.2017 / 11:00
The issuer is solely responsible for the content of this announcement.
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SolarWorld AG drives focusing on high power technology in 2017
Annual Group Report 2016 presented at press conference in Bonn, Germany
At today's press conference on financial statements in Bonn, Germany,
SolarWorld AG presented its Annual Group Report 2016 and confirmed its
preliminary financial figures for the last year as well as its forecast for
2017.
Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG, said, "There has been no
shortage of challenges in the international solar business. The second half
of 2016 was influenced by market turbulences and increased dumping. This
development clearly left its mark on our company, too. To strengthen our
leading technology position and to improve our cost structure decisively we
are going to focus our activities entirely on monocrystalline
high-efficiency products with the PERC concept."
In the course of the focusing process, SolarWorld has begun to bundle its
German production activities: Crystal growing and cell manufacturing will
take place at Arnstadt, in Thuringia, while SolarWorld's site in Freiberg,
Saxony, will concentrate on wafer and module production. This year,
SolarWorld will respectively shut down and relocate the smaller production
facilities for modules in Arnstadt and for cells in Freiberg.
"2017 is a year of transition. It is key to implement focusing measures
quickly and well. 2017 will also be a year of further investments into the
future of our company. We will mainly invest into diamond wire saws in our
wafer production and into the further expansion of PERC capacities," said
Dr.-Ing. E. h. Frank Asbeck.
With regard to his expectations of the future development of SolarWorld's
business, Dr.-Ing. E. h. Frank Asbeck added, "Groupwide shipments are
expected to rise in the current year. We expect that the price pressure on
the solar market will continue. In 2017, consolidated revenue should be at
about previous year's level. We will improve earnings before interest and
taxes (EBIT), but it will still be negative. By 2019, we want to be
operatively in the black again and remain there."
Annual Group Report of SolarWorld AG: www.solarworld.de/financial-reports
SolarWorld REAL VALUE: SolarWorld manufactures and sells high-tech solar
power solutions and in doing so contributes to a cleaner energy supply
worldwide. The group, headquartered in Bonn, Germany, employs 3,288 people
and operates facilities in Freiberg, Germany; Arnstadt, Germany; and
Hillsboro, Oregon, USA as well as in a joint venture with Qatar Solar
Technologies. From raw material silicon to solar wafers, cells and modules,
SolarWorld manages all stages of production ‒ including research and
development in its own company, SolarWorld Innovations. Through an
international distribution network with locations in Europe, USA, Singapore,
Japan, South Africa and Qatar, SolarWorld supplies customers all over the
world. The company upholds high social standards and commits itself to
resource- and energy-efficient production. With its program Solar2World, the
company supports the expansion of solar power in developing countries.
SolarWorld was founded in 1998 and has been publicly traded on the stock
market since 1999. More information at www.solarworld.com
Contact:
SolarWorld AG
Timo Glatz
Martin-Luther-King-Str. 24
53175 Bonn/ Germany
Phone: +49 228 55920-409
Email: [email protected]
Web: www.solarworld.com
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29.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: SolarWorld AG
Martin-Luther-King-Straße 24
53175 Bonn
Germany
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: [email protected]
Internet: www.solarworld.de
ISIN: DE000A1YCMM2, DE000A1YDDX6, DE000A1YCN14
WKN: A1YCMM, A1YDDX, A1YCN1
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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559489 29.03.2017
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