SolarWorld AG revalues long-term raw material contracts

GERMANY: SolarWorld AG has reached an agreement with one of its long-term raw material suppliers to continue the existing supply relationships.

On the one hand, the agreement requires a revaluation of prepayments and/or repayment claims from the long-term supply contracts in the balance sheet. Consequently, the consolidated result of SolarWorld AG will be burdened by a double-digit million Euro amount.

On the other hand, the agreement results in short- and medium-term positive liquidity effects for the SolarWorld group. Furthermore, the agreement secures SolarWorld's supply of important raw materials.