SolarWorld sales grow 61% Q1-Q3

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With trade disputes a major feature in its two most important markets, SolarWorld has continued its march towards profitability. The U.S. market has been particularly successful for the company Q1-Q3. While it did register a pre-tax profit in the period, SolarWorld anticipates ending 2015 with a small loss.

The U.S. market is a particular highlight of SolarWorld’s 2015 performance, with Q1-Q3 sales in the market jumping 61% on 2014 results (Y/Y). By contrast, sales in Germany remain 30% down Y/Y.

Globally SolarWorld’s sales have grown Y/Y by 25%, to 602 MW for the first nine months of this year, bringing in revenues of €532 million ($583 million), an improvement on the €409 million ($448 million) it registered in the same period last year.

The manufacturing giant, with production in Germany and the U.S., has returned a Q1-Q3 pre-tax profit of €15 million, an improvement on a €29 million loss ($32 million) the previous year.

While the result is a good one for the company, SolarWorld will not return to profit over the full year. Blaming “delays in the implementation of operating measures”, the company will post a small loss, a marked improvement on the €44 million loss it registered in 2014.

Earlier this year SolarWorld said that it anticipates sales of €700 million ($767 million) in 2015, from sales of 1 GW of solar modules and kits.