SolarWorld ramps up for orders

Germany’s SolarWorld said orders are booming and it is poised to restart some mothballed capacity – but confirmed it is on course to miss its revenue targets for 2014.

Releasing its first-half financial report, SolarWorld said shipments so far and its order book together exceed its full-year 2014 target.

The company entered the second half with an order book for modules and kits in excess of 400MW, said CEO Frank Asbeck.

“Products from SolarWorld are highly in demand worldwide. In July alone, we sold more than 90MW, a new record for our company. At all production sites in Germany and the US, we soon will partly re-activate capacities that are not being utilised and further invest to grow organically group-wide in line with demand,” Asbeck said.

However, SolarWorld repeated an earlier warning that is set to miss its €680m ($909m) revenue target due to a shift away from kit sales and a fall in prices.

The company pulled in €228m of revenue in the first half, up from a year-ago €201m.

SolarWorld has undergone a major restructuring since last year’s first-half stage.

Its headline earnings before interest and tax (Ebit) reached €81m, up from a year-ago loss of €59m

The company said it still expects to achieve a positive operating result in 2015.