DGAP-Adhoc: SolarWorld AG: Preliminary financial results of

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News Desk 2018

Mar 5, 2014 at 2:45 PM

DGAP-Adhoc: SolarWorld AG: Preliminary financial results of 2013 and expectations for 2014

SolarWorld AG / Key word(s): Preliminary Results/Forecast 05.03.2014 20:29 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad-hoc notification pursuant to Â§ 15 Securities Trading Act (WpHG) March 5, 2014 Ad-hoc-Service of SolarWorld AG (Securities Code No. Shares: WKN A1YCMM and WKN A1YDED) (International Securities Identification Numbers of new bonds: DE000A1YDDX6 und DE000A1YCN14) According to provisional information, SolarWorld AG recorded group-wide shipments of 588 (2012: 608) MW in 2013. Whilst it was possible to increase sales figures in the group chiefly in the European export markets and also in the United States, Japan and South Africa, business in Germany experienced a decline. The financial restructuring process of SolarWorld AG, which was completed on Feb. 24, 2014, led to a reluctance to buy during the last fiscal year. This was particularly evident on the German market. As a result, the share of kits in total sales also decreased compared with pure module sales that account for a lower share of revenue. In addition to the continuing low price level, this was the main reason why consolidated revenue for 2013 fell noticeably. Reaching EUR 456 (2012: 606) million in 2013, they were approximately 25 percent below the level of the previous year. The consolidated result before interest, tax and depreciation (EBITDA) improved in 2013 to EUR -â??147 (2012: -203) million. The consolidated result before interest and tax (EBIT) of EUR -â??192 (2012:-620) million was above the previous year's level. The improvements in the result are primarily due to comprehensive operational restructuring measures to reduce costs, e.g. a reduction in material costs. In 2013, impairments on fixed assets according to IAS 36 is expected to be substantially lower than in the previous year and amount to approximately EUR -5 (2012: -330) million. On December 31, 2013, SolarWorld held liquid funds totaling EUR 163.7 (December 31, 2012: EUR 224.1) million. For the current 2014 fiscal year, SolarWorld AG is expecting to increase its group-wide shipments of modules and kits by at least 40 percent compared with 2013 through higher shipments in all core markets. SolarWorld AG also reckons on growth in consolidated revenue to more than EUR 680 million in 2014. The expected trend in sales and revenue already takes the acquisition of production lines belonging to Bosch Solar Energy AG at the Arnstadt/Thuringia (Germany) site into account, which is planned for March 12, 2014. In addition, SolarWorld AG is expecting a positive result before interest, tax and depreciation (EBITDA) in 2014 of more than EUR 10 million. This does not take into account the special effects from the successfully completed financial restructuring as well as the positive special effects from the initial consolidation of assets that are to be taken over from Bosch Solar Energy AG. The operating result (EBIT) before consideration of these special effects is likely to range between EUR -35 million and EUR -20 million. Cash flow from on-going business activity is expected to be positive again in 2014. The SolarWorld Group is expecting to return to a positive operating result (EBIT) in fiscal year 2015 and to reach revenues above one billion euros in fiscal year 2016. Contact: SolarWorld AG Investor Relations Phone: +49 228 55920-470; Fax: +49 228 55920-9470, Email: placement@solarworld.de; Web: www.solarworld.de/en/investor-relations 05.03.2014 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, DE000A1YDED6, DE000A1YDDX6, DE000A1YCN14 WKN: A1YCMM, A1YDED, A1YDDX, A1YCN1 Listed: Regulierter Markt in DÃ¼sseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, MÃ¼nchen, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

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