Solarworld to book good overseas sales in Q4 - report

Dec 13, 2012 - Frank Asbeck, chief executive of Solarworld AG (ETR:SWV), projects that the company will book good sales figures in the USA for the fourth quarter, judging by the robust performance so far, he told news agency Reuters yesterday.

Solarworld’s business in the USA is on the upswing, helped by the punitive tariffs launched against Chinese competitors. According to experts, the photovoltaic power capacity in the country is to grow by 3.2 GW in 2012, which marks a significant growth from the previous year.

Nevertheless, it is unclear whether the US sales will suffice to offset the company’s losses in Germany.

Asbeck said that he does not rule out a strategic partnership with a financially strong investor as one of many options for Solarworld’s future. However, Solarworld may just as well cope on its own, the executive added.

In the first nine months of 2012, Solarworld plunged into a net loss of EUR 230 million (USD 300.9m) from a net profit of EUR 11.2 million in the prior-year period.

(EUR 1.0 = USD 1.308)

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