SolarWorld AG triples profits

SolarWorld AG generated a group profit after tax of 33.6 (previous year: 10.3) million EUR in the period from January through September 2005 thus more than tripling the previous year's profit.

The company has had quite a turn around since 2003 when it made a loss of EUR 5.4 million. Aside from the massive improvement in profitability, it has tripled in value since the beginning of the year. And now MM Warburg is rating it as a buy.

Just last week, the foundation stone was laid for a new wafer plant, which it is anticipated will boost annual output to 220 MW by the end of 2006.