SCHOTT Solar AG Confirms Figures For Fiscal 2008, Continues Its Expansion

March 11, 2009 by Jeff Shepard

SCHOTT Solar AG announced that it closed the fiscal year 2007/08 with the best result in the company’s history. During its 50th anniversary year, the company states that it improved all relevant financial figures and significantly expanded the production capacity in the Concentrated Solar Power (CSP) segment and the Photovoltaics (PV) segment. For the first quarter of the current fiscal year, SCHOTT Solar AG has reported stable business and the start-up of additional production lines.

"We are highly satisfied with the past fiscal year, as we have reached important milestones of our ambitious expansion plans in both segments, while at the same time achieving a sustainable increase in profitability," said Chief Executive Officer Dr. Martin Heming.

In the fiscal year 2007/2008 (1 October 2007 to 30 September 2008), SCHOTT Solar AG reported a 70% increase in sales to €482 million (previous year: €283 million). At the same time, earnings before interest and taxes (EBIT) improved noticeably to €52 million (previous year: €9 million). The production capacity of both segments was expanded as planned in the past fiscal year. The capacity of the Photovoltaics segment increased to 205 MW for modules (previous year: 93 MW), while the capacity of the Concentrated Solar Power segment was expanded to 400 MWel (previous year: 200 MWel). The company invested €141 million in property, plant and equipment and intangible assets (previous year: €88 million). As at 30 September 2008, the company employed 1,650 people worldwide (previous year: 1,037 people).

SCHOTT Solar AG envisages to boost production capacity further through the start-up and ramp up of additional production lines in both segments by the end of the fiscal year. The capacity of the Photovoltaics segment is scheduled to reach a total of 360 MW, with 1 GWel planned for the Concentrated Solar Power segment.