German manufacturer SolarWorld AG has warned its shareholders a renegotiated supply deal with an ‘important' silicon supplier will hit its earnings before interest, tax, depreciation and amortization (EBITDA) figure for the first six months of the year.
SolarWorld, which claims to be the largest solar manufacturer outside Asia, today announced it has renegotiated a ‘raw material' supply agreement with an unnamed supplier which will secure the company's silicon supply after its capacity was significantly expanded by the acquisition of Bosch's solar manufacturing assets.
Predicting an EBITDA hit in what SolarWorld said will ‘presumably' be a non-cash one-off figure in the ‘low double-digit million euros', the company prepared its shareholders for a 1-4 million (US$1.3-5.4 million) disappointment.
The company announcement was at pains to stress the adjusted interim statement, covering the January-to-June period, will not include the positive effects of a company restructuring completed in February or resulting from the Bosch acquisition.
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: editors@pv-magazine.com.
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.