SolarWorld ends 2012 with €224 million cash; net preliminary loss of €476 million

April 29, 2013
Facebook
Twitter
LinkedIn
Reddit
Email

Struggling SolarWorld has issued a few key preliminary consolidated financial figures, before disclosing full-year unaudited results.

SolarWorld said that consolidated revenue plummeted by around 42% to € 606 million, down from €1.04 billion in 2011. The decline in sales was attributed to PV product ASP declines of around 40%.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company reported a negative EBIT of €492.4 million, more than double 2011 negative EBIT of €243.9 million. The consolidated net loss was reported at €476.9 million, up from a consolidated loss of €307.1 million in 2011.

In accordance with IAS 36, impairment tests showed SolarWorld had generated impairment losses of €176.1 million.

With a burn rate of €329 million in 2012, the average burn rate was €81 million per quarter. Based on the 2012 average quarterly burn rate and no injection of significant amounts of new capital, SolarWorld would run out funds early in the third quarter of 2013.

The company had previously stated that it would not announce full-year financial results until talks with its banks and creditors had been conducted over restructuring its debts. The company did not say in releasing key financial data what the outcome if any was from those talks.

The preliminary financial statements have not yet been audited and no audit opinion has yet been made, which means the final figures could change.
 

Read Next

Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
T1 Energy and Nextracker have agreed to use the latter’s steel module frames at the former’s new 5GW module manufacturing facility in Dallas.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK