SolarWorld AG reported consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, consolidated revenue increased to EUR 212.6 million against EUR 149.1 million a year ago. Due to improvements in its operating performance, the company was able to keep its EBITDA almost stable at EUR 2.1 million against EUR 2.9 million a year ago, although currency results were EUR 13.3 million below previous year's quarter. If EBITDA was adjusted by this effect, it would amount to EUR 6.9 million against LBITDA of EUR 5.6 million. LBIT amounted to EUR 9.7 million against EUR 8.0 million a year ago. Without taking the currency result into account, LBIT would be EUR 4.9 million against EUR 16.6 million.

The group confirms its forecast for the year 2016: the company will increase group wide shipments by more than 20%, compared with previous year (2015: 1,159 megawatts). Consolidated revenue will rise in line with shipments by more than 20% (2015: EUR 763 million). The company is striving to reach up to EUR 1 billion of revenue in 2016. For the whole year 2016, the company expects to reach a positive EBIT in the lower double-digit million range.