SolarWorld turns to loss and rising inventory: full-year guidance reduced

Facebook
Twitter
LinkedIn
Reddit
Email

Germany’s largest module manufacturer, SolarWorld reported weakening financial conditions in the third quarter. Shipments and revenue remained flat with the second quarter but margins declined as weak demand and declining prices impacted results. SolarWorld guided sales above €1 billion for the full-year but below €1.3 billion reported in 2010. Finished goods inventory levels have increased sequentially for 5 quarters, while total inventories reached close to €500 million.

SolarWorld reported shipments of 195MW in the third quarter, flat with the second quarter and up slightly from 191MW in the same quarter a year ago.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Revenue amounted to €237.8, flat with second quarter revenue figures of €238 million, while EBIT-margin was 8.7%, down from 13% in the second quarter of 2011. SolarWorld reported consolidated net income of negative € 9.0 million, said to be due to losses in the United States that did not reduce tax liabilities.

For the first 9-months, SolarWorld reported increased shipments to 576MW, up slightly from 568MW in the same period of 2010. Revenues reached €772.9, down from €958.3 million in the prior year period.

The operating profit (EBIT) in the first 9-months amounted to €88.7, down from €133.6 million in the same period a year ago. Consolidated net income amounts to € 13.4 million, down from €54.7 million in the first 9-months of 2010.

Read Next

May 28, 2025
The expansion is 100% compliant with the Indian government's requirement of Bureau of Indian Standards (BIS).
May 28, 2025
Arevon Energy has finalised US$98 million in tax equity financing for a 265MW portfolio currently under construction in Indiana.
May 28, 2025
The German state of North Rhine-Westphalia has launched a Federal Council initiative to accelerate the development of floating solar (FPV) on artificial lakes.
May 28, 2025
Renewables developer Solaria has reached an agreement in principle with Spanish bank Banco Sabadell to finance a 175MW solar PV plant in Spain.
May 28, 2025
ISC Konstanz is working with US solar cell manufacturer Suniva on its 1GW silicon solar cell production facility in the state of Georgia.
May 28, 2025
In 2024, 20 million people improved their access to energy through the acquisition of solar energy kits (SEKs), according to GOGLA.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 8, 2025
Asia