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SolarWorld AG Reaches Agreement with Another Supplier of Raw Materials

Published on 14 Jul 2014
July 11, 2014 - After successful negotiations with another important supplier of raw materials, SolarWorld AG has been able to place its long-term business relationship with this partner on a new contractual basis, strengthening the Group's silicon supply security under competitive conditions.

The positive agreement reached today will result in a revaluation of prepayments and/or repayment claims against the raw material supplier in the balance sheet of SolarWorld AG. Consequently, this will burden the consolidated result of SolarWorld AG in fiscal year 2014 by presumably a non cash, one-off effect in a low double-digit million Euro amount. This will be reflected in the earnings before interest, taxes, depreciation and amortization (EBITDA). For the future liquidity of the SolarWorld Group, the agreement has positive effects.

A corresponding adjustment of the EBITDA forecasted for 2014 not taking into account the positive one-off effects from the financial restructuring and from the initial consolidation of assets from Bosch Solar Energy AG will be conducted in the interim report on the first half of 2014.

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