DGAP-News: SolarWorld AG: SolarWorld AG releases

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Feb 19, 2014 at 8:15 AM

DGAP-News: SolarWorld AG: SolarWorld AG releases medium-term plan for 2014 to 2016 - Cleansing as part of financial restructuring

DGAP-News: SolarWorld AG / Key word(s): Results Forecast/Miscellaneous SolarWorld AG: SolarWorld AG releases medium-term plan for 2014 to 2016 - Cleansing as part of financial restructuring 19.02.2014 / 14:02 --------------------------------------------------------------------- The continuing crisis in the solar industry and political developments make it difficult to forecast future business development. Nevertheless, in November 2013 SolarWorld compiled a medium-term plan for the years 2014 to 2016, which was validated by PwC. As basis of its planning, the Management Board of SolarWorld assumes that during 2014 the solar industry will have reached the final stage of consolidation. Whilst global demand for solar energy products is likely to continue to grow in 2014, prices will probably remain at the current level. SolarWorld expects that market growth will also have an effect on its own sales development. In line with our sales strategy, in 2014 SolarWorld is planning to increase the share of sales of complete solar systems both in the private household segment as well as in international project business. A prerequisite for implementing these plans is the successful implementation of the approved measures to restructure the financial liabilities and balance sheet by the end of February 2014. Under these assumptions, the SolarWorld Group is planning to increase shipments of modules and kits in 2014 by at least 40 percent compared with the previous year (548 MW). This rise is intended to be generated in all sales markets. As a result of volume growth and a higher share of the system business, SolarWorld is planning with revenues of over EUR 680 million for 2014 and an increase to more than EUR 1 billion in 2016. The operational restructuring measures shall take effect during the course of 2014. The Management Board is therefore expecting a positive result before interest, taxes and depreciation (EBITDA) in 2014 of more than EUR 10 million. On this basis, a positive cash flow from operating activities is also expected. The operating result (EBIT) 2014 is likely to be between EUR -35 million and EUR -20 million. For 2015 the SolarWorld Group is expecting a positive operating result as well as further increases in revenues of over 20 percent. In this context, the Management Board of SolarWorld AG would expressly like to point out that the assumptions and framework conditions used for the corporate planning might be subject to changes. The above information (cleansing) is being released as part of the restructuring, which should be closed by the end of February 2014. About SolarWorld AG: SolarWorld AG manufactures solar power systems and in doing so contributes to a cleaner energy supply worldwide. The company, located in Bonn, employs approximately 2,400 people and carries out production in Freiberg, Germany, and Hillsboro, USA. From raw material silicon to the solar module, SolarWorld manages all stages of production â?? including its own research and development. Through an international distribution network, SolarWorld supplies customers all over the world with solar modules and complete systems. The company maintains high social standards at all locations across the globe, and has committed itself to resource- and energy-efficient production. SolarWorld has been publically traded on the stock market since 1999. More information at www.solarworld.de/en Contact: SolarWorld AG Investor Relations Phone: +49 228 55920-470; Fax: +49 228 55920-9470, Email: placement@solarworld.de; Internet: www.solarworld.de/en/investor-relations End of Corporate News --------------------------------------------------------------------- 19.02.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: SolarWorld AG Martin-Luther-King-StraÃ?e 24 53175 Bonn Germany Phone: +49 (0)228 - 559 20 470 Fax: +49 (0)228 - 559 20 9470 E-mail: placement@solarworld.de Internet: www.solarworld.de ISIN: DE000A1YCMM2, DE000A1YC293, DE000A1YC3A6 WKN: A1YCMM Listed: Regulierter Markt in DÃ¼sseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, MÃ¼nchen, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 253293 19.02.2014

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