SolarWorld group: Group Sales, Operating Results and Net Income Precisely on Forecast with Increase of More Than 30 Per Cent in 2008

Bonn, Germany / Hillsboro, Ore., February 18, 2009 – In fiscal 2008, the SolarWorld group generated sustainable growth of its national and international solar business. Against the backdrop of vigorous demand, group sales precisely hit forecast by achieving a 30 percent increase over the previous year, with 900 million EUR (about $1.2 billion US), up from 690 million EUR. Operating results before taxes and interest (EBIT) also grew by more than 30 per cent to 260 (previous year: 199) million EUR reflecting the growth of the group along the entire value chain. By the same token net income for the year went up by 33 per cent to 150 (previous year: 113) million EUR. Setting aside onetime accounting charges, the group increased its EBIT by 49 per cent to 254 (previous year: 171) million EUR and its results from continued activities by 39 percent to 132 (previous year: 95) million EUR.

Sales in January 2009 exceeded those of the same month a year earlier. This comparison indicates growing customer eagerness to invest in solar power technology.

About the SolarWorld group: The SolarWorld group of companies (ISIN: DE0005108401) is a world leader in high quality solar power technology. The company is involved at all levels of the solar value chain and combines all activities of the solar industry, from silicon raw material to turn-key solar systems. SolarWorld is represented in all of the world’s solar growth markets. The group is exclusively dedicated to its core business of photovoltaic power generation, operating production facilities in Germany and the USA (California, Oregon, Washington). They, in turn, supply the SolarWorld sales offices in Germany, Spain, USA, South Africa and Singapore. In South Korea, SolarWorld is establishing a solar module production facility to serve the growing demand in Asia.

The central element of the business, in addition to the sale of turn-key solar systems and solar modules, is the distribution of solar silicon wafers to the international solar cell industry. Apart from grid-coupled (on-grid) products the SolarWorld group sells off-grid solar power solutions that make an important contribution to the sustainable economic development of threshold and developing countries. Under the name Solar2World, the group has applied its ethical commitment to solar power in developing countries.

SolarWorld AG employs about 2,300 people worldwide. At the stock market the company is listed among others in the technology index TecDAX, in the ÖkoDAX, in the Dow Jones STOXX 600, in the international MSCI index as well as in the sustainability indices DAXglobal Alternative Energy and NAI.