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SolarWorld Increased Solar Shipments By A Third In H1’15

German solar PV manufacturer SolarWorld AG increased shipments in the first half of 2015 by one-third, and increased revenue by 40%.

SolarWorld AG released a summary of its H1’15 earnings report on its website on Monday, revealing, among other things, that it had increased shipments of solar modules and kits by 32% to 440 MW, up from 333 MW in H1’14. This growth was significantly boosted by a doubling in shipments in the US market, increasing the company’s foreign quota of shipments of modules and kits to 87%, up from H1’14’s 80%.

Consolidated revenue in H1’15 grew stronger than shipments, increasing by 40% to sit at €320 million, up from €228 million H1’14.

Operating performance also improved in the first half of 2015, with earnings before interest, taxes, depreciation, and amortization (EBITDA) rising to €10 million, and earnings before interest and taxes (EBIT) to -€12 (H1 2014, adjusted for one-off effects, was -€19 million).

SolarWorld management confirmed its forecast for 2015, an increase of shipments of at least 25% to 1 GW, up from the previous year, as well as an increase in group revenue of at least 25% to more than  €700 million.

SolarWorld doesn’t always make it into the news as much as other solar manufacturers and developers, but earlier this year it popped up in a partnership with Dividend Solar and Enphase Energy to offer the Solar Freedom package to South Carolina residents.

“We are proud to introduce the Solar Freedom package with SolarWorld and Enphase, combining our low-cost loan financing with leading system components to create a best-in-class option for homeowners,” says Steve Michella, CEO of Dividend Solar. “Together, we can offer a one-stop solution for homeowners in South Carolina who want the peace-of-mind of hassle-free financing combined with the highest-quality systems.”


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