SolarWorld shipments increased 42% in 2010

Financials

  • SWVK
    ETR
    14.00
    -0.48 (-3.31%)
    5:36PM GMT+2

Preliminary financial results from SolarWorld show the integrated module manufacturer posted revenue of €1.3 billion in 2010, a 29% increase over the previous year, when revenue of €1.01 billion was reported. Shipments of wafers and solar modules also increased over the previous year, reaching 819MW, up 42% over figures logged in 2009 when shipments reached 578MW.

EBIT amounted to €193 million, compared to €153 million in 2009. Margins remained static at 15%, compared with the previous year. Profit increased to €89 million for the year, compared to a profit of €59 million in 2009.

SolarWorld also noted that it had received 90% uptake in the share swap for the acquisition of Solarparc AG, suggesting the takeover would be concluded shortly and would boost SolarWorld’s downstream efforts. 

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