SolarWorld has reported preliminary 2013 financial results, highlighting its continued bankability issues in key historical markets such as Germany during its lengthy financial restructuring phase.
The company reported consolidated revenue of €456 million (US$631 million), down 25% from the previous year when revenue fell to €606 million (US$839 million). Revenue was over €1 billion (US$1.4 billion) in 2011.
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SolarWorld reported a negative EBITDA of €192 million (US$266 million), down slightly from €203 million (US$281 million) in 2013. The company reiterated that it did not expect to return to profitability until 2015.
Sales in the fourth quarter of 2013 were around €110 million (US$152 million), down from around €144 million (US$199 million) in the prior quarter, its highest sales quarter for the year.
SolarWorld had cash totalling €163.7 million (US$226.6 million) at the end of 2013, down from €224.1 million (US$310.2 million) in 2012.