SolarWorld turns to loss and rising inventory: full-year guidance reduced


  • SWVK
    +0.15 (1.10%)
    5:36PM GMT+2

Germany’s largest module manufacturer, SolarWorld reported weakening financial conditions in the third quarter. Shipments and revenue remained flat with the second quarter but margins declined as weak demand and declining prices impacted results. SolarWorld guided sales above €1 billion for the full-year but below €1.3 billion reported in 2010. Finished goods inventory levels have increased sequentially for 5 quarters, while total inventories reached close to €500 million.

SolarWorld reported shipments of 195MW in the third quarter, flat with the second quarter and up slightly from 191MW in the same quarter a year ago.

Revenue amounted to €237.8, flat with second quarter revenue figures of €238 million, while EBIT-margin was 8.7%, down from 13% in the second quarter of 2011. SolarWorld reported consolidated net income of negative € 9.0 million, said to be due to losses in the United States that did not reduce tax liabilities.

For the first 9-months, SolarWorld reported increased shipments to 576MW, up slightly from 568MW in the same period of 2010. Revenues reached €772.9, down from €958.3 million in the prior year period.

The operating profit (EBIT) in the first 9-months amounted to €88.7, down from €133.6 million in the same period a year ago. Consolidated net income amounts to € 13.4 million, down from €54.7 million in the first 9-months of 2010.

PV-Tech Storage Promo


Preview Latest
We won't share your details - promise!
Next Generation Solar PV Finance


  • Photovoltaics International 24th Edition

    Signs earlier in the year of the global industry entering a growth phase have now been confirmed beyond any doubt. Almost all the big-name suppliers have now announced some form of manufacturing capacity expansion, a trend that analysts agree will only gather pace as long as the levels of demand predicted over the next few years turn out to be correct.

  • Manufacturing The Solar Future: The 2014 Production Annual

    Although the past few years have proved extremely testing for PV equipment manufacturers, falling module prices have driven solar end-market demand to previously unseen levels. That demand is now starting to be felt by manufacturers, to the extent that leading companies are starting to talk about serious capacity expansions later this year and into 2015. This means that the next 12 months will be a critical period if companies throughout the supply chain are to take full advantage of the PV industry’s next growth phase.



Solar Media