In fiscal year 2009, SolarWorld AG was able to increase group revenue by 12.5% or €112.3 million to €1,012.6 million (previous year: €900.3 million), thus exceeding its own forecast.

The operating result before interest and taxes (EBIT) was characterized by the strong decline in module prices, amounting as it did to €151.8 million (previous year: €263.3m). The consolidated net income for the year, which had been adjusted for deferred taxes worth €32.4 million in the context of a conservative reporting policy, amounted to €91.4 million (previous year: €135.2 million).

“Thanks to the full utilization of our production capacities throughout the year, we were able to exceed our revenue target even in the difficult year 2009 and managed to generate a satisfactory overall result,” said Frank H. Asbeck, chairman and CEO of SolarWorld AG. “We want our shareholders to participate in this, which is why the Management Board and the Supervisory Board will propose a dividend increased to 16 cents to the annual general meeting.”

SolarWorld was able to enhance the financial basis for its planned corporate growth. A bond with a volume of €400 million was successfully floated in January 2010. Free liquidity currently amounts to about €900 million.

“Owing to our financial strength we can and we will implement our short and medium term growth objectives as scheduled,” declared Philipp Koecke, CFO of SolarWorld AG, .

The production capacities along the entire value chain from the wafer via the cell to the module are to be massively increased. The emphasis of the expansion will be on the module production in Freiberg, Germany and Hillsboro, OH. “That is our strategic answer to the worldwide growth in retail customer markets that we as an established solar manufacturer will profit from with a strong brand,” pointed out Asbeck. By the end of 2011 SolarWorld will have a group-wide total module capacity of 1.25 GW.