Sunways has reported a rise in sales revenues, sales volumes, and earnings for the first quarter of 2010. Company sales rose by 51.7% from €29.2 million in 2009 to €44.3 million, meaning that the operating result (EBIT) increased by €10 million to €4.7 million (Q1/2009: €-5.3 million).
In the context of the settlement of the closing balance sheet relating to the sale of MHH Solartechnik, a provision was recorded for an adjustment amount of €-1.1 million with respect to discontinued operations. Therefore, consolidated net income in the first quarter 2010 amounted to €2.1 million in comparison to €-4.3 million for the same quarter 2009.
Solar cell segment
Sales revenues: € 21.7 million (Q1/2009: € 19.0 million; + 14.2 %)
EBIT: € 2.8 million (Q1/2009: € -2.7 million)
Solar cell sales volume: 17.8MWp (Q1/2009: 10.4MWp)
Solar module segment
Sales revenues: € 18.7 million (Q1/2009: € 7.9 million; +136.7 %)
EBIT: € 0.8 million (Q1/2009: € -1.4 million)
Solar module sales volume: 10.0MWp (Q1/2009: 2.9MWp)
Solar inverter segment
Sales revenues: € 9.1 million (Q1/2009: € 2.4 million; + 279.2 %)
EBIT: € 1.1 million (Q1/2009: € -1.2 million)
Solar inverter sales volume: 37.7MWp (Q1/2009: 9.5MWp)
“We aim to double our module sales against the prior year with the aid of additional supply capacities. In addition, we will consider all operational and strategic options to further accelerate the growth of Sunways. An important goal will again be to diversify our sales markets and to strengthen our product and service range,” said Michael Wilhelm, chairman of the management board of Sunways.