28.10.2016 17:59:53
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DGAP-Ad hoc: SolarWorld
DGAP-Adhoc: SolarWorld AG: Preliminary business results for Q3 2016
Consolidated revenue was EUR 204 million in Q3 2016 and thus almost on level with previous year's quarter (Q3 2015: EUR 212 million). From January to September 2016, the group increased its revenue by 20 percent to EUR 639 (Q1-Q3 2015: 532) million.
The global price erosion in Q3 2016, which resulted from increasing dumping by Chinese manufacturers, made a write-down of inventories in an amount of EUR 13 million necessary. Because of this write-down, earnings before interest, taxes, depreciation and amortization (EBITDA) decreased to EUR -12 (Q3 2015: 5) million in Q3 2016. In the first three quarters 2016, EBITDA was EUR 7 (Q1-Q3 2015: 15) million. In line with EBITDA, earnings before interest and taxes (EBIT) went down to EUR -25 (Q1-Q3 2015: -6) million in Q3 2016. In the first three quarters 2016, EBIT amounted to EUR -30 (Q1-Q3 2015: -18) million.
The negative market environment led to a build-up of inventories so that liquid funds decreased to EUR 84 million as at the cut-off date Sept. 30, 2016 (June 30, 2015: EUR 148 million). The group has taken measures to adapt its production volume more flexibly to demand, lower costs further and thus to improve liquidity in Q4.
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
28.10.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at 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, Hanover, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service ---------------------------------------------------------------------------
SolarWorld AG / Key word(s): 9-month figures/Preliminary Results
28.10.2016 17:59
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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SolarWorld AG: Preliminary business results for Q3 2016
In Q3 2016, SolarWorld AG increased groupwide shipments in a difficult
market situation by 5 percent versus previous year's quarter to 345 (Q3
2015: 328) megawatts. In the first three quarters 2016, SolarWorld raised
its shipments by 31 percent to 1,027 (Q1-Q3 2015: 784) megawatts.
Consolidated revenue was EUR 204 million in Q3 2016 and thus almost on level with previous year's quarter (Q3 2015: EUR 212 million). From January to September 2016, the group increased its revenue by 20 percent to EUR 639 (Q1-Q3 2015: 532) million.
The global price erosion in Q3 2016, which resulted from increasing dumping by Chinese manufacturers, made a write-down of inventories in an amount of EUR 13 million necessary. Because of this write-down, earnings before interest, taxes, depreciation and amortization (EBITDA) decreased to EUR -12 (Q3 2015: 5) million in Q3 2016. In the first three quarters 2016, EBITDA was EUR 7 (Q1-Q3 2015: 15) million. In line with EBITDA, earnings before interest and taxes (EBIT) went down to EUR -25 (Q1-Q3 2015: -6) million in Q3 2016. In the first three quarters 2016, EBIT amounted to EUR -30 (Q1-Q3 2015: -18) million.
The negative market environment led to a build-up of inventories so that liquid funds decreased to EUR 84 million as at the cut-off date Sept. 30, 2016 (June 30, 2015: EUR 148 million). The group has taken measures to adapt its production volume more flexibly to demand, lower costs further and thus to improve liquidity in Q4.
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
28.10.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at 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, Hanover, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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