SolarWorld

SolarWorld AG acquires a stake of 29 % in the newly founded Joint Venture Qatar Solar Technologies (QST) headquartered in the Emirate of Qatar. The Joint Venture will establish the first production facility for poly-silicon on the Arabian Peninsula. Partners are the Qatar Foundation (70%) and the Qatar Development Bank (1%).

Full capacity utilization with 38 per cent increase in shipments enables the group to generate an operating result (EBIT) of 152 million EUR

In fiscal year 2009 SolarWorld AG was able to exceed its revenue forecast: As a result of the full utilization of the group’s production capacities consolidated revenues increased to 1,012.6 (previous year: 900.3) million EUR. Thus, it was possible for the group to outperform its revenue target in spite of an industry-wide decline of prices by one third due to a shipment increase by 38 per cent.

SolarWorld AG is again the winner of a quality study conducted by the Photon trade magazine. In the 2009 long-term test, SolarWorld’s solar power modules generated more electricity than all competitive products. In comparison with other modules, the SolarWorld modules produced up to 12 percent more power. On a worldwide basis, it is only Photon that conducts such yield tests under scientific conditions. This test thus offers customers who have to choose from 3,000 modules available in the market a valid basis for a decision.

The SolarWorld Group is donating solar modules for the power supply of water pumping stations in Haiti. These will be able to supply clean drinking water to up to 175,000 people in the region devastated by the earthquake. Within the framework of its Solar2World program, the German group supports development organizations with solar power systems that ensure the urgently needed supply of electricity independent of the power grid and fossil fuels.

SolarWorld AG successfully issued a bond with a volume of 400 million EUR. In this way the group strengthens its financial flexibility for continued international growth. The emphasis lies on the expansion of production capacities at the German site Freiberg in Saxony. 500 new jobs are to be created there. Today the group already employs 1,500 people in Freiberg.

With its new performance guarantee for solar power modules SolarWorld AG again underlines the reliability and quality of its products. As the first company in the industry SolarWorld AG gives a linear performance guarantee for 25 years on all solar power modules installed as of 2010. With this groundbreaking innovation SolarWorld provides clearly better security for the investments of its customers into their solar power plants.

Since the IPO of the company ten years ago the stocks of SolarWorld AG have developed as well as no other German stock during that period. This is shown by an analysis performed by the German economy newspaper Handelsblatt (edition of 8 January 2010). “We are delighted with this success which confirms that we came up with the right idea at the right time and in the right place”, says Dipl.-Ing. Frank H. Asbeck, Chairman and CEO of SolarWorld AG.

Consolidated sales revenues of the SolarWorld Group increased substantially versus the previous year (900.3 million EUR) to the provisional figure of 1,010 million EUR.

SolarWorld AG benefited from the worldwide increase in the demand for high quality and brand name technology in solar power generation. By exceeding the one billion revenue mark in 2009 the group increased its annual sales revenue by a factor of more than 185 in the ten years since its IPO (1999 revenue: 5.4 million EUR).

SolarWorld AG is dedicating its efforts in Africa to the social development of young people and has just equipped the first “Football for Hope Center” in the community of Khayelitsha which is part of Cape Town/South Africa with a Sun-TV Station in the run-up to the Football World Cup. This station was now handed over to the operator of the center, the Grassroots Soccer organization.

SolarWorld AG is strengthening its activities in France, one of the large European growth markets for solar power applications. Right now France is in fourth place in the European league of newly installed solar output capacities. SolarWorld relies on proximity to customers in its growth markets and therefore established a liaison office in Grenoble with immediate effect, which provides country-wide technical training as well as consultation for wholesalers and installers.