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ots Ad hoc-Service: SolarWorld AG
SolarWorld subsidiary Deutsche Solar has clearly exceeded breakeven
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Freiberg/Saxony (ots Ad hoc-Service) - SolarWorld subsidiary Deutsche Solar has clearly exceeded breakeven / Profit for 2000 reached DM 14.8 million DM / Sales more than doubled to DM 74.5 million / Entry into solar cell production / Decision in favor of solar module production has also been taken /
Deutsche Solar GmbH, Freiberg/Saxony, a subsidiary of SolarWorld AG, clearly exceeded breakeven in fiscal year 2000. The EBIT amounted to DM 15.56 million, with the EBIT margin at 10.7 per cent. The pre-tax profit was DM 14.84 million. In the previous year the predecessor company Bayer Solar GmbH had incurred a loss of DM 2.64 million. In comparison with 1999, sales of Deutsche Solar increased by 118 per cent to DM 74.5 million. The equity ratio increased from 51.1 per cent to 64.2 per cent. In the current year Deutsche Solar will be converted into a stock corporation.
Against the backdrop of the dynamically growing solar cell and solar module market worldwide, SolarWorld AG announces its most recent investment decision: At the location of Deutsche Solar in Freiberg SolarWorld will start the production of solar cells. Within the next 18 months the photovoltaics company will build a production plant for 25 Megawatts (MW) of solar cells with an option to enhance this to 50 MW. In addition, Deutsche Solar in Freiberg will establish a factory for the production of 25 MW of solar modules, again with an option to double this capacity. SolarWorld will not expand production by way of appropriate acquisitions: In a comprehensive analysis of the solar technology industry SolarWorld has not been able to identify any suitable candidate for a take-over that would have fitted into the SolarWorld expansion concept in terms of production quality and scope.
With its decision to implement the expansion strategy in-house SolarWorld AG is creating one of the worlds most advanced integrated solar factories at Freiberg. Solar cells are produced from the wafers made of raw silicon. The cells in turn are further processed into solar modules. With the production of solar wafers, cells and modules taking place under one roof SolarWorld is now completing its solar value chain. As soon as in April 2001 Deutsche Solar will put into operation the first new Bridgeman plants for the expansion of solar wafer production from 32 MW to 100 MW. Deutsche Solar holds a share of more than 20 per cent in the world market for crystalline solar wafers.
Within the framework of the SolarWorld expansion strategy at Freiberg a recycling plant has been planned for the recovery of used silicon from spent materials. This will open up another access route to the solar raw material silicon for SolarWorld. On the whole, SolarWorld will put into operation 25,000 square meters of new production space at Freiberg creating more than 250 new jobs in the process. The total investment volume will amount to DM 250 million until the year 2004.
In Bonn SolarWorld AG is in the process of establishing its Logistics Center West for the transshipment of its imported modules from the USA and Japan in the former technical center of the Dupont company.
The SolarWorld AG expansion plans are backed by a positive legal decision. On 13 March 2001 the European Court of Justice decided that minimum compensations for the feeding in of regenerative energy into the national grids were permissible under EU law. This is another reinforcement of the German law on renewable energies which will cause a ripple effect in other EU countries - especially France where a national law on renewable energies is already under preparation.
SolarWorld AG, Investor Relations / Marketing Communications Frau Sybille Teyke, Tel.-No.: +49 (0) 228 - 559200; Fax No.: +49 (0) 228 - 55920-99 E-mail: email@example.com; Internet: www.solarworld.de
For the business press: Herr Dipl.-Pol. Oliver Ristau, Tel.-No.: 0177 - 678 2705
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