SolarWorld targeting 2016 revenues of >EUR1 billion, shipments >1.4 GW

The instigator of the solar trade cases in both the U.S. and Europe has seen its financial position significantly boosted in 2015. In its preliminary earnings results, Germany-based SolarWorld AG has calculated revenue and shipment increases of 33%, respectively, on 2014, to €763 million (2014: €573 million) and 1.159 GW (2014: 873 MW).

Accounting for a 50% share, the U.S. represents SolarWorld’s biggest market. It recorded positive activity in Germany, however, which saw shipments increase there by 60%.

On the back of expected continuing strong demand for its products, particularly for its PERC and bifacial technology, SolarWorld forecasts 2016 growth of over 20%, to reach revenues of over €1 billion and shipments of around 1.4 GW. On January 13, SolarWorld announced a PERC efficiency of 22%, coming in just behind Trina Solar, which holds the world record at 22.13%.

Despite securing a Q4 2015 EBIT of €8 million, SolarWorld recorded a slight FY loss at €-10 million which, while up significantly on the €-44 million lost in 2014, still fell short of its expectations of a positive FY EBIT. Remaining upbeat, it forecasts an EBIT gain in the double digits over the next 12 months. EBITDA, meanwhile, grew from €1.6 million in 2014 to €35 million.

The group’s 2015 annual report is scheduled to be published on March 17.