SolarWorld may post €550m loss

Embattled German PV equipment maker SolarWorld AG said it expects to record a loss after tax of between €520m and €550m ($679m-$717m) for 2012.

The announcement sent shares in the company plunging 32% to €0.629 by mid-morning in Frankfurt.

“One fifth of the losses are due to negative effects on earnings in connection with business developments in 2012, and in the amount of four fifths due to adjusted valuations for shares in affiliated businesses and for subsidiaries/loans,” the company said in an statement last night to the German stock market regulator.

SolarWorld still has not published full financial figures for 2012, after it postponed their release amid negotiations with creditors about a restructuring of its Log in to read complete article.

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