SolarWorld plans to power up unused production capacity later this year but still expects to miss its annual revenue target.
In first-half results released on Thursday, the company said revenue was €228.1 million (US$305.5 million), up 13% compared to the same period last year.
The company has 250MW of wafer and 170MW of cell capacity unused at its plant in Hillsboro, Oregon, and 120MW of module slack in Freiburg.
Shipments of modules and solar kits reached 333MW. The company did not reveal figures for module shipments alone but did say that “subdued” solar power systems had been offset by module sales.
“This is the main reason why consolidated revenue – up 13% in the first half-year –did not rise as strongly as shipments. The unforeseen shift in our product mix is likely to mean that we will not fully reach our planned revenue target fro 2014 [of €680 million/US$910 million],” wrote company president Frank Asbeck in an introductory letter.
Consolidation of its US operations to Hillsboro and a cut in wafer output meant the company cut 166 jobs in the US. It added 692 jobs in Germany following the acquisition of Bosch’s facility.