PV manufacturer SolarWorld has posted preliminary results for first nine months that show a 25% increase in product shipments and the 30% increase in revenue, compared to the prior year period.

The company reported product shipments (module and kits) totalling 755MW in the first nine months of 2015, compared to 602MW in the previous year reporting period. 

This would mean that the company shipped a total of 315MW in the third quarter. 

SolarWorld reiterated that it was on track to exceed 1GW in product shipments in 2015, inline with PV Tech’s projection of shipments being between 1GW and 1.1GW. The company could exceed this level based on production ramp rates on new capacity expansions that would take module nameplate capacity to around 1.5GW by year-end.

The company reiterated that the US was its largest market, accounting for 61% of total shipments in the first nine months of 2015. However, SolarWorld said that shipments in Germany had increased 30%, despite a decline of 30% in German PV market installations.

Revenue for the reporting period was €532 million indicating third quarter revenue was around €212 million, compared with €170 million in the previous quarter and an EBITDA of €15 million.

Guidance

SolarWorld guided full-year revenue at above €700 million but EBIT will remain negative, due to delays in the implementation of ‘operating measures’.

Comments