SolarWorld A.G., Germany’s second-largest photovoltaic supplier, reported 1.3 billion euros ($1.77 billion) in revenues in 2010, up by 29 percent from 2009 according to its preliminary report.
SolarWorld reported a 42 percent increase in wafer and solar modules delivery, shipping out 819 megawatts (MW) worth last year from 578 MW in 2009.
But the company’s EBIT margin stood at 15 percent despite an increase in earnings from 153 million euros to 193 million euro, and in consolidated profits from 59 million euros to 89 million euros.
The Germany-based company’s consolidated profits rose by 50 percent from 59 million euros to 89 million euros.
SolarWorld said its sales in its two main markets, Germany and the United States, represent more than half of its global solar presence.
Following the expected 2010 gains, SolarWorld’s board will propose an increase to dividend share from 16 euro cents to 19 euro cents.
Based on 2009’s 16 percent share dividend, employees gained the most profit out of the company with over 99,000 euros. About over a 72,000 euro-profit was generated by the public authorities and over 17,000 euros by shareholders.
The company’s 29 percent improved performance last year was better than its 12.5-percent revenue increase in 2009 compared to its 2008 fiscal year.
SolarWorld has offices and manufacturing sites in Spain, South, Africa, Asia and the United States, employing almost 3,000 in 2010 from about 2,000 in 2009.
