Konstanz, Germany: Sunways First Half 2009 Revenues Rise 16%
Sunways AG concluded the second quarter with a marked rise in sales. Compared to the prior year quarter, consolidated sales rose by 38.4% to € 89.8 million, driven by a strong growth of domestic business (Q2/2008: € 64.9 million)
Consolidated EBIT was, however, affected in the period under review by the continuing significant decline in selling prices for solar components and decreased by € 0.5 million against the second quarter 2008 to € 0.7 million in the past three months (Q2/2008: € 1.2 million). Net income amounted to € 0.1 million after € 0.6 million in the prior year quarter.
Undiluted earnings per share (basic earnings per share pursuant to IAS 33) thus amounted to € 0.01 in the second quarter 2009 (Q2/2008: € 0.05). Diluted earnings per share corresponded to undiluted earnings. In the first half-year 2009, group sales increased by 16 % to € 134 million (H1/2008: € 116 million).
EBIT for the first six months 2009 reached € -4.7 million following low first quarter earnings. EBIT in the comparable 2008 period amounted to € 1.6 million. Net income decreased from € 0.7 million in the first half-year 2008 to € -4.2 million in the first six months 2009.
In the second quarter, the solar cell segment reported a gratifying sales growth by 79% to € 36.3 million (Q2/2008: € 20.2 million). EBIT also increased markedly and experienced a turnaround from € -0.7 million in the second quarter 2008 to € 2.7 million for the months from April through June 2009.