Solarworld AG: Forecast For Fiscal Year 2016 Will Not Be Achieved
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The Management Board of SolarWorld AG announces that the company will achieve its shipment forecast of an increase of more than 20 percent compared with the previous year, but it does not expect to fulfil its forecasts regarding revenue and earnings before interest and taxes (EBIT).
After massive installations of solar systems in the first half of 2016, the domestic demand in China collapsed due to the reduction of feed-in tariffs in Q3 2016. In return, Chinese manufacturers have offered their inventories at dumped prices on the global market, which has resulted in a global price decline.
