Beleaguered PV manufacturer, SolarWorld, has provided an insight into its recovery plan after the financial restructuring of the company is expected completed by the end of February 2014.
The plan, which was said to have previously been validated by accountants PwC has until now remained outside the public sphere.
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SolarWorld said that its 2014 sales strategy would focus on increasing shipments of PV modules and kits (PV modules, frames, inverters, storage) by at least 40% compared with 2013. The company said that shipments (not broken out) in 2013 reached 548MW.
The company had previously reported shipments of PV modules and kits in the first nine months of 2013 of 390MW, down from 431MW in the same period of 2012.
The planned increase in shipments would be based on further focus on the residential markets across its geographical base as well a returning to the international PV project business, an area it had to forego due to bankability issues during its heavy loss making and financial debts subsequently mainly addressed in the recent restructuring activities.
SolarWorld guided expected revenue for 2014 to be over €690 million, compared to €345.6 million so far reported for the first nine months of 2013. SolarWorld had reported revenue of €605 million in 2012.
However, the company said that it expected an operating (EBIT) loss of between €35 million and €20 million in 2014. SolarWorld said the plan in 2015 would be to produce a positive operating result as revenue was expected to increase by over 20%.
SolarWorld did not highlight the contribution Bosch PV operations would provide in the revenue forecasts. The company revealed its intention to acquire Bosch's solar arm last year.
