SolarWorld Reports Q1 Losses, Sharp Decline In Shipments

Posted by SI Staff on May 29, 2013 No Comments
Categories : New & Noteworthy

SolarWorld AG reports it sold fewer solar power modules and kits in the first quarter of this year (Q1'13) than in the same quarter of 2012. The company's shipments for Q1'13 reached 109 MW of modules as compared with 147 MW of modules in Q1'12.

SolarWorld recorded a significant downturn in the German market. The company cites the unusually severe and long winter weather, as well as an ongoing restructuring process. Declining shipments and persistent price pressure have also led to a reduction in the consolidated revenue compared to the first quarter of last year, the company adds.

Including the solar wafer business, SolarWorld says it achieved a total revenue of �112.2 million for Q1'13 compared with �170.5 million in Q1'12. Consolidated losses for the first quarter totaled �40.0 million compared with a Q1'12 loss of �0.3 million.

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