DGAP-Ad hoc: SolarWorld

DGAP-Adhoc: SolarWorld AG increases shipments and revenue in Q1 2016

SolarWorld AG / Key word(s): Preliminary Results/Quarter Results

02.05.2016 08:29

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Preliminary business results for Q1 2016

In Q1 2016, SolarWorld AG boosted groupwide shipments by 62 percent, compared with previous year's quarter, to 341 (Q1 2015: 210) megawatts, according to preliminary information. Shipments grew strongly in the United States, in Germany even against the market trend and in European export markets. Furthermore, SolarWorld won orders for large-scale projects, for example in Sri Lanka, France and the United States. Consolidated revenue increased to EUR 212.6 (Q1 2015: 149.1) million in the first three months of the year.

Due to improvements in its operating performance, SolarWorld was able to keep its earnings before interest, taxes, depreciation and amortization (EBITDA) almost stable at EUR 2.1 (Q1 2015: 2.9) million, although currency results were EUR 13.3 million below previous year's quarter. If EBITDA was adjusted by this effect, it would amount to EUR 6.9 (Q1 2015: -5.6) million.

Earnings before interest and taxes (EBIT) amounted to EUR -9.7 (Q1 2015: -8.0) million in Q1 2016. Without taking the currency result into account, EBIT would be EUR -4.9 (Q1 2015: -16.6) million.

At the cut-off date March 31, 2016, the group had liquid funds of EUR 182.7 (December 31, 2015: 188.6) million, after it had made repayments of loans and interest payments in a total amount of EUR 13.7 million in Q1 2016.

SolarWorld started Q2 2016 with an order backlog of more than 540 megawatts. Together with shipments in Q1 (341 megawatts), SolarWorld had thus more than 880 megawatts on its books in early April.

The group confirms its forecast for the year 2016: SolarWorld will increase groupwide shipments by more than 20 percent, compared with previous year (2015: 1,159 megawatts). Consolidated revenue will rise in line with shipments by more than 20 percent (2015: EUR 763 million). SolarWorld is striving to reach up to EUR 1 billion of revenue in 2016. For the whole year 2016, SolarWorld expects to reach a positive EBIT in the lower double-digit million range.

Contact: SolarWorld AG Investor Relations Phone: +49 228 55920-470; Fax: +49 228 55920-9470, Email: placement@solarworld.com; Web: www.solarworld.de/en/investor-relations

02.05.2016 The DGAP 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-Straße 24 53175 Bonn Germany Phone: +49 (0)228 - 559 20 470 Fax: +49 (0)228 - 559 20 9470 E-mail: placement@solarworld.com Internet: www.solarworld.de ISIN: DE000A1YCMM2, DE000A1YDDX6, DE000A1YCN14 WKN: A1YCMM, A1YDDX, A1YCN1 Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart; Terminbörse EUREX End of Announcement DGAP News-Service ---------------------------------------------------------------------------