The German PV module maker has confirmed its financial results for 2016. The company reiterated its outlook, which forecasts that it will become profitable again in 2019.The German solar manufacturer SolarWorld AG has published its final financial report for 2016. The report confirms the preliminary results released in February.
The company saw revenue increase by 5% year-on-year to €803 million ($866.3 million) last year, more of the half of which came from the U.S. market.
Furthermore, SolarWorld posted an Ebidta loss of €25.7 million ($27.8 million) for last year, while in 2015 it reported a profit of €40.8 million ($44.0 million).
Ebit loss amounts to €98.8 million ($106.5 million), as previously reported in the preliminary results. At the end of 2016, the company had equity to the amount of €121.8 million ($131.4 million) and net indebtedness of €302.4 million ($326.2 million).
"There has been no shortage of challenges in the international solar business. The second half of 2016 was influenced by market turbulences and increased dumping. This development clearly left its mark on our company, too," explained SolarWorld CEO Frank Asbeck.
The company's CEO also said that the in the first half of 2016 the performance of the company was good and that especially in the second quarter its results were positive. The drastic price drop registered in the second half of last year, however, has negatively impacted its financial figures and has not been compensated through cost reduction. Asbeck added that SolarWorld has significantly ...Den vollständigen Artikel lesen ...