Describing the risks facing photovoltaic manufacturers as "manageable, but high" while presenting its full annual results today in Bonn, Germany, SolarWorld management maintained a positive outlook. Sales in terms of megawatts are expected to increase, however falling prices will result in a drop of income from these sales.
Gross revenues totaled 1.05 billion (US$1.38 billion) in 2011, down from 1.31 billion (US$1.72 billion) in 2010. The sales represented an operating loss of 233 (306.6 billion).
Despite the grim figures, SolarWorld paid its shareholders a dividend of 0.9 cents (US$1.18), down from 0.19 (US$0.25) in 2010, when the company had reporting earnings of 87.3 billion (US$114.89).
It is unclear as to whether 2012 will be vastly better for SolarWorld, however yesterdays ruling by the U.S. Department of Commerce, that tariffs will be placed on photovoltaic imports from China will be seen to help. SolarWorld has been leading the charge in the action against the Chinese manufacturers and the case is far from over.
Opportunities outside of Germany will be increasingly important for SolarWorld and this was acknowledged in the annual report. With dramatic cuts to Germanys feed-in tariffs (FITs), SolarWorld will continue to internationalize. In 2011, 68 percent of SolarWorlds sales were to international markets and this, the board reports, is set to increase in 2012.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.