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Q-Cells crystalline solar cell production up 47% in 2008

Q-Cells has reported a 47% increase in the production of crystalline solar cells to 570.4 MWp and total thin-film production reached 15.4 MWp in 2008.

Sales increased by 46% to €1,251.3 million. Earnings before interest and taxes (EBIT) totalled €205.1m and net income rose to around €190.5m, up 28%.

Excluding the profit contribution from the stake in Renewable Energy Corporation ASA (REC), Q-Cells’ net income for the year stood at €140.2m.

For 2009 Q-Cells SE continues to expect production volume in the Group of between 800 MWp and 1 GWp. Including the contribution to sales by Q-Cells International’s rapidly expanding project business, which has projects 100-200 MWp in the planning stage, the group is aiming to achieve sales of €1.7-2.1 billion.

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Photovoltaics (PV)  •  Solar electricity