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Sunways net income up 3400% in Q2 2010

Sunways AG has reported a consolidated net income of €3.5 million in the second quarter of 2010, up 3400% from the same period in 2009.

Sales increased 19.6% to €64.6m, and the EBIT reached €5.0m, compared to a loss of €0.3m in Q2 2009.

Michael Wilhelm, Chairman of the Management Board at Sunways, says: “Our core business is experiencing a stable development. We anticipate that demand will continue to be strong for our products, not only in the domestic market but increasingly also in the international markets, in the second half of the year.

“We have a substantial order backlog in all product segments. From today’s point of view, we expect that sales in the fiscal year 2010 will rise to reach more than €200m with an EBIT margin of about 6%.

Sales by segment:

  • Solar Cell: €31.1m -14.3%
  • Solar Module: €29.7m +103%
  • Solar Inverter: €9.8m +216%

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Energy infrastructure  •  Photovoltaics (PV)  •  Policy, investment and markets  •  Solar electricity