SolarWorld’s Q2 results have confirmed their preliminary figures with revenue and shipments flat for successive quarters.
The company posted quarterly revenue of €221.5 million (US$247.4 million) and shipments of 338MW. SolarWorld reports sales of modules and solar systems together in the same figure.
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Shipments of modules and systems for H1 were 682MW with the US representing 344MW of that total.
A full year earnings before interest and taxes (EBIT) range of plus or minus US$10 million was retained from the preliminary results.
The company’s stock price lost around a quarter of its value during the period, a fact the company blamed on negative media reporting of its case with Hemlock.
A US court of first instance awarded Hemlock damages of US$793 million over an unfulfilled polysilicon contract. Once all appeal options were exhausted in the US, Hemlock would then have to seek the damages through a German court. SolarWorld insists the ruling would be unenforceable in German courts because of EU anti-trust laws but continues to look for a settlement. “Expert legal opinion” has offered differing interpretations of the anti-trust defence.
Without an agreement SolarWorld would face in excess of two years of legal wrangling and associated uncertainty.
