SolarWorld AG announced earnings results for the second quarter and first half of 2016. For the quarter, the company managed to increase its earnings before interest, taxes, depreciation and amortization (EBITDA) to EUR 18.5 million compared to EUR 7.0 million a year ago. Earnings before interest and taxes (EBIT) improved to EUR 6.6 million compared to LBIT 4.2 million a year ago.

For the first half, the company's EBITDA rose to EUR 20.5 million compared to LBITDA 9.9 million a year ago. The company managed to improve LBIT to EUR 3.1 million compared to 12.2 million a year ago.

The company provided earnings guidance for the year 2016. For the year, the company will reach EBIT in a range between LBIT of EUR 10 million and EBIT of EUR 10 million for the full year 2016. The group still expects to be able to raise its shipments by more than 20% in 2016, compared with previous year. Consolidated revenue should also increase by more than 20%, compared with previous year. SolarWorld is striving to reach up to EUR 1 billion of revenue in 2016.