SolarWorld management expects more than €10 million of EBITDA for 2014

By Caroline Salls

Pittsburgh, Feb. 19 - SolarWorld AG's restructuring should close by the end of February and will impact its financial results in the coming years, according to a company news release.

In line with its sales strategy, SolarWorld said it plans to increase the share of sales of complete solar systems in the private household segment and international project business in 2014.

A prerequisite for implementing these plans is the successful implementation of the approved measures for restructuring the company's debt and balance sheet by the end of February.

Under these assumptions, the SolarWorld Group said it is planning to increase shipments of modules and kits in all sales markets in 2014 by at least 40% compared to the previous year.

As a result of volume growth and a higher share of the system business, the company said it expects revenue of more than €680 million for 2014 and an increase to more than €1 billion in 2016.

Since operational restructuring measures will take effect during the course of 2014, SolarWorld said its management board is expecting EBITDA in 2014 of more than €10 million. On this basis, the company said a positive cash flow from operating activities is also expected.

For 2015 the SolarWorld Group is expecting a positive operating result, as well as further increases in revenue of more than 20%.

SolarWorld is a Bonn, Germany, solar panel maker.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.