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SolarWorld reports strong Q1 2011

SolarWorld has seen a strong first quarter (Q1) of 2011 with net income more than doubling to €12.5 million compared to the same period last year.

By Renewable Energy Focus staff

The 136% jump in net income came as the EBIT rose 1.5% to €26.3m and consolidated revenue increased 3% to €233m.

SolarWorld profited partially from good sales in the United States. Foreign sales now make up 77% of SolarWorld’s total sales.

“We got off to a good start into the solar business 2011,” says Dr-Ing E.h. Frank Asbeck, Chairman and CEO. “In the first two months of the year, it is above all the winter weather in Germany that somewhat delayed our sales. However, we can compensate for this with our strong foreign markets such as the United States. Since March, the demand for our products has also picked up again in Germany.”

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