SolarWorld AG announced its preliminary financial results for the first quarter of 2016. The company’s quarterly PV module shipment annually increased 62% to 341MW triggered by strong demand in the U.S. and Germany.
The consolidated revenue increased from € 149.1 million in 1Q15 to € 212.6 million.
According to the company’s release, its EBITA in Q2 was at€ 2.1 million, although currency results were € 13.3 million below previous year’s quarter. If EBITDA was adjusted by this effect, it would amount to € 6.9 million. The EBIT was €-9.7 million in 1Q16. Without taking the currency result into account, EBIT would be € -4.9 million. Both indexes were increased from same quarter of 2015.
SolarWorld has won orders for large-scale projects in Sri Lanka, France and the U.S. It has an order backlog of more than 540MW, making its PV module volume on books in early April reach 880MW, together with 341MW shipments in Q1.
For the year 2016, SolarSolar expects to increase groupwide shipments by over 20%, consolidated revenue to rise by more than 20% and striving to reach up to €1 billion. For the whole year 2016, SolarWorld expects to reach a positive EBIT in the lower double-digit million range.