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ots Ad hoc-Service: SolarWorld AG
SolarWorld AG: Third Quarter 2000 Figures: Sales and Profit Forecasts Exceeded
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Bonn (ots Ad hoc-Service) - Ad Hoc Service SolarWorld AG (Securities Code No. 510840)
Voluntary communication in line with @ 15 WpHG (Securities Trading Act) and pursuant to @2, Sect. 2, of the Investors Guidelines of the Düsseldorf Stock Exchange
SolarWorld AG: Third Quarter 2000 Figures: Sales and Profit Forecasts Exceeded / Capital Increase to Institutional Investors
In the first nine months of fiscal 2000 SolarWorld AG, Bonn, generated a record result clearly exceeding its own forecasts. For the period January through September pre-tax profits amounted to DM 4.0 million. For the entire year 2000 SolarWorld AG had forecast a gross profit of DM 2.4 million. In the period under review sales revenues rose to DM 21.4 million - an increase of 225 per cent over the same period in the previous year. The SolarWorld subsidiary Deutsche Solar GmbH (previously Bayer Solar), Freiberg/Saxony, reported pre-tax profits of DM 11.8 million for the first nine months of the year 2000. Sales revenues in the same period amounted to DM 53.3 million. Taken together, SolarWorld thus achieved sales of DM 74.7 million and a pre-tax profit of DM 15.8 million in the solar business. On an as-if-consolidated basis the EBIT of both companies runs to DM 10.7 million for the first three quarters of the year 2000.
In preparation for two additional acqisitions in the market of solar modules and solar cells SolarWorld AG will increase its capital by 375,000 shares to EUR 4.5 million before the end of the year 2000, the new shares to be placed with institutional investors subject to the exclusion of subscription rights. This will enable the company to further expand and internationalize its business activities by both increasing the capacity of its production and acquiring additional companies.
The booming PV market has recently also been given a boost by the European Court of Justice (ECJ). In a case concerning the old German law on feeding privately generated energy into the national grid (Strom-Einspeise-Gesetz, StrEG) the competent Advocate General held that the minimum payments made for renewable energies, as provided for by both the old StrEG and the new German law on renewable energies (Erneuerbare-Energien- Gesetz, EEG), did not constitute a subsidy and were therefore in conformity with EU principles. The German practice of promoting renewable energies has thus been confirmed, as a result of which the boom in solar power will continue unabated, also on a global scale, with growth rates of more than 25 per cent per annum.
Contact: SolarWorld AG Investor Relations / Marketing Communications
For the business press: Mr. Dipl.-Pol. Oliver Ristau, Tel.-No.: +49 (0) 177 / 678 2705
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