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SolarWorld may miss 2014 sales goal

German PV group SolarWorld said it may miss its €680m ($913.6m) revenue target for 2014 due to weakness in its domestic market.

SolarWorld – Europe’s biggest PV equipment manufacturer – told investors its international module business saw strong growth thanks to “dynamic” development in the US, UK and France.

Those sales helped boost group shipments to 357MW in the first half of the year, 53% up on the 2013 equivalent and in line with its plan.

However, sales of complete systems “were below plan, particularly because of the weakness of the German solar market”, said the company.

That left first-half revenue 13% ahead of last year’s January to June period at €228m, according to preliminary results released today.

The company said if the current trends in its product mix continue through the second half of the year it will hit its shipment targets. However, it added: “It will be likely from today’s point of view that the target to raise the consolidated revenue in 2014 to more than € 680m in the second half...will not be fully reached.”

SolarWorld unveiled the targets earlier this year as it completed a huge restructuring of its finances, which enabled it to avoid the fate of other big names in the German solar industry – many of which went bankrupt or were acquired.

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

First half earnings before interest, tax, depreciation and amortisation (Ebitda) reached €1m after adjustment from one-offs, up from a €37m deficit a year ago.

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