SolarWorld AG · OTC:SRWRF
SolarWorld — H1 2011 Earnings Presentation
19 slides from SolarWorld's earnings presentation, 2011
Slide 1: SolarWorld Analysts' Conference Call H1 2011
SolarWorld Analysts’ Conference Call H1 2011 1
Slide 2: Philipp Koecke, Chief Financial Officer
Analysts‘ Conference Call H1 2011 Philipp Koecke Chief Financial Officer 2
Slide 3: Shipments Q1 2011 vs. Q2 2011
Shipments Q1 2011 vs. Q2 2011 185 + 6% 196 In MW 200 150 100 50 0 Q1 2011 Q2 2011 3
Slide 4: Shipments H1 2010 vs. H1 2011
Shipments H1 2010 vs. H1 2011 377 + 1% 381 In MW 400 350 300 250 200 150 100 50 0 H1 2010 H1 2011 4
Slide 5: Shipments by Region H1 2011
Shipments by Region H1 2011 2% 13% 31% 31% 23% Germany European Union Americas Asia ROW 5
Slide 6: Revenues Q1 2011 vs. Q2 2011
Revenues Q1 2011 vs. Q2 2011 302 In m € + 29,6% 300 233 51% 200 71% 100 49% 29% 0 Q1 2011 Q2 2011 Germany ROW 6
Slide 7: Revenues H1 2010 vs. H1 2011
Revenues H1 2010 vs. H1 2011 608 -12,1% In m € 535 600 33% 500 60% 400 300 67% 200 40% 100 0 H1 2010 H1 2011 Germany ROW 7
Slide 8: EBIT Q1 2011 vs. Q2 2011
Earnings before Interest and Taxes (EBIT) Q1 2011 vs. Q2 2011 In m € 50 40 40 +43% 28 30 13% 20 12% 10 0 Q1 2011 Q2 2011 EBIT margin 8
Slide 9: EBIT H1 2010 vs. H1 2011
Earnings before Interest and Taxes (EBIT) H1 2010 vs. H1 2011 In m € 84 90 -18,7% 68 60 14% 13% 30 0 H1 2010 H1 2011 EBIT margin 9
Slide 10: Financial results H1 2010 vs. H1 2011
Financial results H1 2010 vs. H1 2011 In m € H1 2010 H1 2011 Diff Interest expenses -40 -39 1 Interest income 12 12 0 Net interest income/expenses -28 -27 1 Results from investments measured at equity -2 2 4 Others 7 -4 -11 5 -2 -7 Financial result -23 -29 -6 10
Slide 11: Consolidated Profit Q1 2011 vs. Q2 2011
Consolidated Profit Q1 2011 vs. Q2 2011 In m € 12 14 12 10 10 8 6 4 2 0 Q1 2011 Q2 2011 11
Slide 12: Consolidated Profit H1 2010 vs. H1 2011
Consolidated Profit H1 2010 vs. H1 2011 In m € 35 40 30 22 20 10 0 H1 2010 H1 2011 12
Slide 13: Balance Sheet
Balance Sheet In m € 2.571 2.571 3.000 non-current shareholder‘s equity assets 2.500 919 1.417 2.000 non-current liabilities inventories 1.500 other current 1.349 500 1.000 assets 285 current liabilities cash 500 369 303 0 Assets Equity & Liabilities 13
Slide 14: Working Capital
Working Capital In m € 700 600 500 400 58% 53% 300 30% 29% 200 28% 100 0 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Net prepayments and customer advances Net trade accounts receivable/payable Inventories without advanced payments Working capital in % annualized sales 14
Slide 15: Inventories
Inventories In m € 450 400 350 300 250 200 150 100 50 0 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 finished goods and merchandise work in process raw materials, supplies 15
Slide 16: Equity & Liabilities
Equity & Liabilities In m € 1400 1200 1000 800 36% 600 32% 35% 34% 31% 400 200 0 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Current financial liabilities Noncurrent financial liabilities Equity ratio 16
Slide 17: Cashflow H1 2011
Cashflow H1 2011 EBITDA In m € 123 thereof non cash -39 ∆ operational Working Capital -183 ∆ other net assets -38 Interest received 2 tax payments -40 Operational Cashflow -175 Cash out for asset investment -82 Cashflow from disposal of assets 0 Free Cashflow -257 17
Slide 18: Capital Expenditures H1 2011
Capital Expenditures H1 2011 In m € 92 100 80 Cell and module, Hillsboro (19 m €) 57 60 Ramp-up wafer and module, 40 Freiberg (54 m €) 21 14 20 R&D, Freiberg (2 m €) 0 Others Production Production Total USA Germany 18
Slide 19: Thank you for your attention!
Thank you for your attention! SolarWorld AG Investor Relations Martin-Luther-King-Str. 24 53175 Bonn Tel.: +49 228 55920 470 Fax: +49 228 55920 9470 Mail: placement@solarworld.de www.solarworld.de 19