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SCHOTT North America
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12-18-2008, SCHOTT Solar, Inc. SCHOTT Solar Announces Preliminary FY 2007/2008 figures |
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• Sales up approximately 70% to EUR 482 million (previous year: EUR 283 million)
• EBIT significantly increased to EUR 52 million (previous year: EUR 9 million)
• Net profit rises to EUR 35 million (previous year: EUR 1 million)
• Capacity expansion pushed ahead in both photovoltaics and CSP segments
December, 18 2008 (Mainz, Germany) – SCHOTT Solar AG, and its global subsidiaries, today reported record results for the financial year 2007/2008. The company improved all key financial figures and ratios, and the expansion of its two segments continued on schedule.
During the company’s fiscal year 2007/2008 (1 October 2007 to 30 September 2008) SCHOTT Solar AG, and its subsidiaries, recorded an approximately 70 percent growth in sales to EUR 482 million (previous year: EUR 283 million*). The same period saw a significant improvement * in the company’s earnings before interest and taxes (EBIT) to EUR 52 million (previous year: EUR 9 million. As of 30 September 2008, 1,650 people (previous year: 1,037) were employed at locations in Germany, Spain, the Czech Republic and the USA. SCHOTT Solar AG considers itself to be the leading supplier of receivers for solar power plants with parabolic trough technology and as an integrated provider of photovoltaic products.
"In the past financial year we consistently implemented our company strategy of sustainable growth, and thanks to our unique positioning in the concentrated solar power and photovoltaics businesses we are well prepared for the future," emphasized Dr. Martin Heming, the company’s Chief Executive Officer.
The company’s expansion of its photovoltaics production capacities proceeded as planned. This included an increase in the crystalline cell and module production capacities to 185 megawatts (previous year: 135 megawatts) and 170 megawatts (previous year: 90 megawatts), respectively. Thin film production capacity increased more than 10 times, to 35 megawatts (previous year: 3 megawatts). The start-up of the first production line at the new Aznalcollŕr factory in Spain boosted the capacities of the Concentrated Solar Power division to a total of approximately 400 megawatts.
SCHOTT Solar AG anticipates reporting continued strong sales growth and a positive profit trend for the financial year 2008/2009. However, the overall 2009 business trend in the solar power industry will substantially depend on the implications of the global economic crisis in the financial market and the impact on the real economy. The extent of this impact, and the implications on the global solar market, is difficult to forecast, at this time.
* The comparative FY 2006/2007 figures reflect a restatement of SCHOTT Solar AG’s profit and loss account, balance sheet and cash flow statement to the effect that SCHOTT Solar CSP GmbH is shown as a SCHOTT Solar AG subsidiary already as from the beginning of FY 2006/2007 instead of the actual economic effect from 1 October 2007. The Concentrated Solar Power division operated through SCHOTT Solar CSP GmbH and its Spanish subsidiary became part of SCHOTT Solar only in the FY 2007/2008, namely with economic effect from 1 October 2007.
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More information on the Internet under www.schottsolar.com
Press pictures can be downloaded at www.schott-pictures.net
SCHOTT Solar’s high quality products harness the virtually inexhaustible potential of the sun as a renewable source of energy. For this purpose SCHOTT Solar produces important components for photovoltaic applications and solar energy plants with parabolic trough technology. In the photovoltaic industry, the company is one of the few integrated manufacturers of crystalline silicon wafers, solar cells and photovoltaic modules. Wafer production is mainly carried out through a WACKER SCHOTT Solar joint venture, which ensures the supply of silicon necessary for long-term growth. Thanks to over 20 years of experience in thin-film technology, SCHOTT Solar also regards itself as one of the industry’s cutting-edge companies. In receiver production for solar power plants with parabolic trough technology, SCHOTT Solar considers itself to be the market and technology leader. The receivers are key components in large-scale power plants that generate electricity from solar energy centrally on the basis of parabolic trough technology and can supply entire cities with power. SCHOTT Solar has production facilities in Germany, the Czech Republic, the USA and Spain. SCHOTT Solar’s innovative power and technological expertise date back to the late 1950s. SCHOTT Solar AG is a wholly owned subsidiary of the international SCHOTT technology group. SCHOTT develops special materials, components and systems for the household appliance, pharmaceutical, solar energy, electronics, optical and automotive industries. With around 17,300 employees, the SCHOTT Group generated a worldwide turnover of EUR 2.2 billion in fiscal year 2007/2008.
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| Further information: | | Brian Lynch | | E-mail
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| | | SCHOTT Solar, Inc. | | 2260 Lava Ridge Ct. Ste. 102 | | 95661 Roseville | | U.S.A. CA | | Tel. 914-831-2200 | | Fax 914-831-2201 | | E-mail
| | http://us.schott.com |
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SCHOTT North America, Inc.
Corporate Office
555 Taxter Road Elmsford, NY 10523 USA
 | +1 (914)831-2200 |
 | +1 (914)831-2201 |
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