SolarWorld benefits from US anti-dumping ruling with increased sales

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SolarWorld has reported preliminary financial results for third quarter of 2014, marking a significant increase in PV module shipments and revenue, primarily due to sales in the US after the anti-dumping ruling. 

The company reported third quarter 2014 revenue of €181 million, up from €128.6 million in the prior quarter and ahead of the second US anti-dumping ruling. 

Shipments, primarily PV modules were 270MW in the third quarter, up from 193MW in the previous quarter. The company noted that 42% of shipments were to the US in the quarter, compared to only 22% in the prior year period. 

SolarWorld claimed that its European export markets as well as Japan increased in the first three quarters of 2014, while its traditional core market, Germany, saw shipments increase slightly. Full details are expected to be provided in SolarWorld’s full report due to be released in November. 

On the back of increased module shipments and higher revenue, SolarWorld reported consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) in the third quarter of a positive €6 million, compared to a negative EBITDA of €26 million in the prior year period.

However, consolidated earnings before interest and taxes (EBIT) in the third quarter 2014 were negative €4 million, compared to negative €36 million in the prior year period. 

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