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SolarWorld AG (SRWRF.PK)

SRWRF.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

SolarWorld enters partnership with Bacanora Minerals for lithium mining in ore mountains
Tuesday, 21 Feb 2017 02:00am EST 

SolarWorld AG : Enters partnership for lithium mining in ore mountains . Solar technology group will sell a share of 50 percent of its project in Altenberg-Zinnwald to Bacanora Minerals Ltd . Under name Deutsche Lithium GmbH, future joint venture will be domiciled in Freiberg, Saxony, and operationally controlled by Bacanora Minerals and SolarWorld together . New partner will earn its share of project in return for a cash consideration of 5 million euros ($5.29 million) and completion of a feasibility study on project, which will take approximately 18 to 24 months . Bacanora Minerals will undertake all financial investments for project .Partner has option to acquire outstanding 50 percent within a 24 month period for a mid double-digit million amount.  Full Article

Solarworld to shut down some production in turnaround drive
Friday, 10 Feb 2017 07:35am EST 

Solarworld AG : Says is going to focus its business activities to successfully compete in a fast changing market environment in 2017 . Says production of multicrystalline wafers, cells and modules to be shut down in course of 2017 . Says research and development subsidiary solarworld innovations gmbh will focus on efficiency-enhancing processes that can be combined with perc . Says these measures will lead to lower expenses for production, sales and overhead and a staff reduction of about 400 by 2019 . Says is going to invest a mid-double-digit million amount in continuous expansion and improvement of its high efficiency technologies .Says aim is to come out of difficult phase for solar market stronger than before and to raise module shipments to about 2 gigawatts by 2019.  Full Article

Solarworld FY revenue up 5 pct at 803 million euros
Friday, 10 Feb 2017 07:33am EST 

Solarworld AG : FY consolidated revenue rose by 5 percent to 803 million euros ($854 million) (2015: 763 million euros) . FY EBITDA was -26 million euros (2015: 41 million euros) million . FY EBIT amounted to -99 million euros (2015: -4 million euros) . In course of 2017 will focus its business activities on monocrystalline high-efficiency products. This will lead to a reduction of number of employees by about 400 by 2019 .Expects EBIT in 2017 to rise compared with 2016, although it will still be negative. 2017 shipments are expected to grow and consolidated revenue should lie at approximately previous year's level.  Full Article

Solarworld announces special repayment to both bonds
Friday, 18 Nov 2016 07:05am EST 

Solarworld AG : Special repayment to both bonds . On Nov. 24, a special repayment will be effected to both bonds of Solarworld AG, causing a reduction of respective nominal amount of each note . In Q4 of 2016, company sold a solar park from its portfolio to an external investor for a total sales price of 17.0 million euros ($18.06 million) .7.5 million euros of sales proceeds will go to Solarworld's financial creditors.  Full Article

Solarworld delivers 20 MW for large-scale project in Senegal
Monday, 31 Oct 2016 09:51am EDT 

Solarworld AG :Delivers 20 MW for large-scale project in Senegal.  Full Article

Solarworld Q2 revenue up 30 pct at 222 million euros
Monday, 15 Aug 2016 02:46am EDT 

Solarworld AG : Q2 EBITDA increased to 16.4 million euros (Q2 2015: 7.0 million euros) . Q2 consolidated revenue rose by 30 percent to 222 million euros (Q2 2015: 171 million euros) . Increased its shipments in Q2 2016 by 39 percent to 342 megawatts (Q2 2015: 246 megawatts) . Q2 EBIT at 4.5 million euros (Q2 2015: -4.2 million euros) . In full year 2016, group will raise its shipments by more than 20 percent, compared with previous year (2015: 1,159 megawatts) . Is striving to reach up to 1 billion euros of revenue in 2016. EBIT will presumably come out in a range between -10 million and +10 million euros .Sees FY 2016 consolidated revenue to also grow by more than 20 percent (2015: 763 million euros).  Full Article

Solarworld Q2 2016 revenue up at 222 million euros
Friday, 29 Jul 2016 02:47am EDT 

Solarworld AG : EBIT improved to 6.6 million euros ($7.31 million) (Q2 2015: -4.2 million euros) in Q2 2016. In H1 2016, Solarworld AG managed to improve EBIT to -3.1 million euros (H1 2015: -12.2 million euros) . In Q2 2016, consolidated revenue rose to 222 million euros(Q2 2015: 171 million euros) . At cut-off date June 30, 2016, group had liquid funds of 148 million euros (March 31, 2016: 183 million euros) . Still expects to be able to raise its shipments by more than 20 percent in 2016, compared with previous year (2015: 1,159 megawatts) . Consolidated revenue should also increase by more than 20 percent, compared with previous year (2015: 763 million euros). Solarworld is striving to reach up to 1 billion euros of revenue in 2016 .Will reach EBIT in a range between -10 million and +10 million euros for full year 2016.  Full Article

SolarWorld: single judge grants claim for damages in the first instance
Wednesday, 27 Jul 2016 02:58am EDT 

SolarWorld AG : Single judge grants claim for damages in the first instance. SolarWorld Industries Sachsen GmbH will appeal against judgment and sees no enforcement possibility in Germany . SolarWorld Industries Sachsen GmbH will appeal against this judgment of first instance at intermediate court of appeals in United States . Inspite of this judgment in first instance, SolarWorld AG continues to assume that Hemlock will not be able to enforce any claims in Germany .Expects a duration of proceedings in second instance of about one year.  Full Article

SolarWorld: motion for summary judgment granted in the first instance
Thursday, 14 Jul 2016 05:44am EDT 

SolarWorld AG :Motion for summary judgment granted in the first instance, in the litigation between silicon supplier Hemlock Semiconductor Corp. and SolarWorld Industries Sachsen GmbH, a subsidiary of SolarWorld AG,.  Full Article

E.ON CEO confirms company will not exclude capital measures
Wednesday, 8 Jun 2016 09:12am EDT 

E.On : CEO confirms that the company will not exclude capital measures . Says not interested in buying solarworld . CEO says ipo of turkish participation enerjisa is still an option, there is no timeline . CEO says does not expect to restart block 3 of russian berezovskaya before end 2017 Further company coverage: [EONGn.DE] (Frankfurt Newsroom) ((Frankfurt.newsroom@thomsonreuters.com; +49 7565 1272;)).  Full Article

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