A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z
At Equity shareholding
Shareholdings in associated companies and Joint Venture companies of more than 20 per cent.
Balance sheet
A company’s assets arrayed against its liabilities as at a specific closing date.
Block mass
Weight of a block of silicon: The raw silicon is molten and then solidified into a block of silicon of a few 100 kg. With this process the electronic quality of the silicon is further improved (crystal orientation, impurities) before it is cut into columns which in turn are sawed into wafers.
Brent
The most important crude oil type for Europe. It is a light crude oil with a low sulfur content.
BSI -certified systems
Security certification by the Federal Office for Safety in Information Technology.
Busbar
Current-carrying circuit bars made from silver, printed on solar cells to conduct the generated power away.
Capital stock
Total of the par value of all stocks issued by a company
Carbon Disclosure Project (CDP)
Global cooperation of more than 385 institutional investors with investment capital of more than 57 trillion US dollars. Its goal is to disclose greenhouse gas emissions by companies and their respective strategies concerning climate change and its implications. The CDP thus constitutes the world’s largest freely available emissions inventory for corporate CO2 emissions. The third German CDP Report was published in October 2008.
Cash flow statement
Determination and presentation of the inflow and outflow of cash by a company within a specific timeframe from operating activities, investing activities and financing activities.
Cash flow
Cash surplus generated from ordinary business activities. An indicator of a company’s self-financing strength.
Cells
The (solar) cells combined into modules serve to generate power from solar energy by means of the photovoltaic effect. Cells consist of two layers, both of which are impure (doped). An electrical field is produced at the interface between the two layers. When a light beam hits an electron in the upper layer, it can move freely and migrates outside. This creates an electrical voltage which can then be tapped by outer contacts.
CO2 Equivalents (CO2eq)
Contribution of a greenhouse gas to the greenhouse gas effect: The greenhouse gas potential of a carbon dioxide is used as a comparative value to describe the earth warming effect of different greenhouse gases uniformly over a certain period of time.
Compliance
Observation of laws, guidelines and voluntary codes by companies
Consolidated companies
The group of consolidated companies comprises the companies included in the consolidated financial statements. As a matter of principle, all subsidiaries have to be included, besides the parent company.
Converter
Converts the direct current produced by the solar cells into grid-conforming alternating current, stores operating data and monitors grid connection.
Corporate Communications
Comprehensive strategically structured corporate communications internally and externally that are derived from the corporate vision and the corporate objectives.
Corporate Culture
The fundamental convictions, values and attitudes shared by the members of a company concerning the purpose of the company; corporate culture expresses, for example, the value notions that management holds, the way they deal with one another and with employees. (Source: Bundeszentrale für politische Bildung).
Crystallization
Process during which liquids or molten materials (e.g. silicon chunks molten at high temperatures) cool downslowly and under specific conditions and solidify in the form of crystals.
Customer Relationship Management
This describes the totality of customer care measures from acquisition via communication all the way to checking customer satisfaction using software systems. In this way the overall process can be designed more systematically.
DAXglobal Alternative Energy Index
Shows the performance of the world’s 15 largest companies operating in the alternative energies sector. The companies have to generate the bulk of their sales in natural gas, solar, wind, ethanol or geothermal energy.
DAXglobal Sarasin Sustainability Index
This index calculated by Deutsche Börse AG represents companies that meet the sustainability criterion according to the Sarasin Sustainability Matrix.
DC-AC cabling
Describes (in English) the cabling with direct current cables and with alternating current cables respectively.
Depreciation (for wear and tear)
Gradual reduction in the value of a fixed asset or investment through the systematic write-down of the costs over an extended period of time.
Dividend
Portion of the earnings of a stock corporation distributed to the shareholders on an annual basis. The distribution of these earnings is resolved by the Annual General Meeting.
Dow Jones STOXX 600
Stock index comprising the 600 largest European companies, measured in terms of the capitalization of the free float. The SOLARWORLD share has been listed in this index since February 2006.
EBIT
Operating Earnings Before Interest and Taxes, usually used in evaluating the earnings situation of a company, in particular for international comparisons.
EBITDA
Earnings Before Interest, Taxes, Depreciation and Amortization. This indicator facilitates international comparisons as it does not include national taxes.
EBIT Margin
Shows the percentage of operating Earnings Before Interest, Taxes and financial result generated by a company per sales unit, thus providing information about the company’s profitability.
Economies of scale
The economies of scale resulting from mass production are reflected in a reduction in unit costs.
EEG
Acronym for Erneuerbare-Energien-Gesetz (German Renewable Energies Act). It governs the purchase of and compensation for power exclusively generated from renewable energies by utilities operating universal power supply grids. The Act aims to increase the proportion of renewable energies by 25 to 30 per cent by 2020.
Efficiency
The efficiency of a module/cell is defined as output per surface area.
Employee profit-sharing model (GOM AB)
Profit-oriented employee profit-sharing model by the SOLARWORLD Group, establishing a distribution factor for the employees’ pay structure. This factor is based on earnings by the individual company and the group.
Energyroof®
Special type of assembly in which unframed modules are integrated into a sectional frame system. The surface created in this way replaces the standard roof skin. The system is particularly well suited for new buildings or roof restoration.
Environmental management
Systematic attempt by companies to reduce the environmental damage caused by them. The corporate strategy should balance economic growth and ecological compatibility. The reduction of harmful emissions, waste avoidance and use of renewable energies are combined into a set of environmental measures to be implemented, comprising the corporate environmental policy, environmental audits and standards such as ISO 14 001.
Equity capital
Balance sheet item consisting of the capital stock, reserves and accumulated results that are available to the company for financing (among other things).
Equity ratio
Indicator depicting equity as a proportion of the total capital stock. Used to assess the financial strength of a company.
European-Renewable Energy (ERIX)
The index covers companies that generate their sales mainly in the areas of solar, wind, water, biomass, geothermal energy and tidal energy.
Feed-in compensation
The compensation fixed by the EEG for 20 years for power from renewable energies fed into the public grid.
FTSE Index
The FTSE Environmental Opportunities Index Series measures the performance of worldwide groups of companies that are primarily active in the ecology sector.
Full integration
Combining upstream and downstream production stages of a product under uniform corporate management. SOLARWORLD covers the entire supply chain, all the way from raw material extraction to finished modules.
German Corporate Governance Code
The Code aims to enhance the transparency of corporate management and monitoring rules applicable in Germany for national and international investors and outline investors’ rights in order to strengthen confidence in the management of German companies.
German Entrepreneurial Index (GEX)
Index for owner-managed companies listed in the Prime Standard whose IPO does not date back more than ten years. SOLARWORLD has been listed in the index since 2005.
Gigawatt (GW)
It equals 1.000.000.000 Watt.
Global Challenges Index (GCI)
The GCI includes companies that actively and responsibly face seven global challenges like for example climate change.
Global Reporting Initiative (GRI)
Global multi-stakeholder network of experts to define a global standard for the preparation of sustainability reports. The GRI reporting framework serves to ensure systematic presentation of the economic, ecological and social performance of companies in order to facilitate comparisons between companies (benchmarking) and a transparent presentation of the development over time.
Global Reporting Initiatives guidelines
Global Reporting Initiative
Global Solar Energy Index (MAC)
Worldwide index that includes strongly growing companies of the solar industry
GOMAB
Employee profit-sharing model
Greenhouse Gas Emissions
Greenhouse gases may be of natural origin but can also be caused by human beings. The emissions of greenhouse gases amplify the natural greenhouse effect which in turn may lead to climate change. The most important man-made greenhouse gases are carbon dioxide (CO2) resulting from the combustion of fossil energy sources (about 60 %) and methane produced by agriculture and mass animal husbandry (some 20 %).
Grid parity
Cost parity for solar power and household rates. Is achieved when solar power is less expensive than the consumer price for household power from the grid.
Gross domestic product (GDP)
Measure of the entire economic performance of an economy. The GDP is the total of all consumer expenditure, capital expenditure, government expenditure on purchases of goods and export proceeds minus import expenditure.
IEC
Acronym for International Electrotechnical Commission. International standard-setting body fixing standards in the electrotechnical and electronics areas.
Income statement
Summary of the revenues and expenses of a company during an accounting period.
Intellectual Property (IP )
Intellectual property describes protected knowledge in the form of protective rights. IP is also deemed to be the law on intangible goods.
International Accounting Standards (IAS)
Collection of standards and interpretations in which the rules of external reporting for capital-market-oriented companies are listed.
International Financial Reporting Standards (IFRS)
Collection of standards and interpretations listing the rules pertaining to the external reporting of companies listed in the capital market.
ISO 14001
International environmental management standard fixing requirements on environmental management systems acknowledged worldwide. It relates to questions associated with 251 production processes and services.
ISO 9001
International quality management standard that determines the demands to be placed on a quality management system.
ISO certification
Series of standards outlining the requirements which the management of a company has to satisfy in order to comply with a specific standard in implementing quality management.
Joint Venture
Economic cooperation between companies aimed at taking better advantage of each party’s know-how and resources.
Kerf Loss
Cutting or sawing losses; describes the material loss caused by the sawing of silicon blocks into thin wafers.
Kilowatt (kW)
It equals 1.000 Watt.
KLD Global Climate 100SM Index
Index for stock corporations operating activities with the potential to mitigate the causes of climate change in the short and long term. The index comprises 100 international companies offering solutions against global warming. SOLARWORLD has been listed since 2005.
Kyoto Protocol
In the Protocol, effective since 2005, the international community agreed on binding targets and implementation tools for global climate protection for the first time. The countries involved are obliged to reduce their emissions of climate-damaging gases such as CO2 by five per cent below 1990 levels by 2012.
Large-scale plant
Large photovoltaic plant mostly installed in open-air sites, primarily these are plants with a rated output of more than 100 kilowatt.
Margin
Difference or market margin between producer (production) price and sales (consumer) price of a tradable product. The margin covers the overhead costs included in production and distribution.
Market capitalisation
Measurement referring to the number of shares times the stock price.
Megawatt (MW)
It equals 1.000.000 Watt.
Mergers and Acquisitions (M&A)
Acquisition and combination of companies.
Merrill Lynch Renewable Energy
The index covers 31 companies that are active in the sector of renewable energies.
Module
A (solar) module comprises a multitude of cells interconnected in groups with weatherproof sealing in an aluminium frame behind a glass pane.
Mono-crystalline
The conditions prevailing during crystallization result in the solidification of the silicon in a single large and homogeneous cylindrical crystal.
Monosilane
Monosilane is the simplest form of silane (also silicon hydrogen). It is also used as an input factor for the production of solar-grade silicon.
MSCI -World
The Morgan Stanley Capital International World Index based on 1470 stock prices from 20 countries representing some 60 per cent of the stock market capitalization of these countries; it is published as a world index as well as in the form of regional indices.
Natural Share Index (NAI)
Includes 30 international, ecologically acting companies that are selected as successful eco-pioneers according to particularly stringent standards; the SOLARWORLD stock has been listed since 2003.
Not-for-profit organization
Demand-oriented not-for-profit company.
Off-grid (rural electrification)
Solar systems not directly connected to the power grid; the power generated is directly consumed or stored locally (stand-alone system).
ÖkoDAX
The ÖkoDAX represents the value development of the ten most liquid German companies from the Prime IG Renewable Energy Index. It covers companies from the renewable energies industry.
On-grid
Solar systems connected to the regional power grid. The operator of the system can feed electricity into the grid when electricity production is high (strong solar radiation) and take electricity out of the grid if necessary (in the dark).
Performance drivers
Process-oriented parameter. An improved performance in the leading indicators influences the future development of the lagging indicators in a positive manner. The leading indicators thus have an early warning character concerning the achievement of key strategic goals.
Photon Photovoltaik Aktien Index (PPVX, photon photovoltaic share index)
Worldwide index of the Photon trade journal listing the companies that generated more than 50 per cent of the previous year’s revenues with products or services directly or indirectly associated with the installation or use of photovoltaic systems. SOLARWORLD AG has been listed since 2001.
Photovoltaic system
Solar power system
Photovoltaic
Describes the direct conversion of solar radiation into electrical energy
Poly-crystalline
The conditions prevailing during crystallization cause the solar silicon to solidify in a silicon block consisting of several small crystals which overall does not show a completely homogeneous arrangement of atoms.
Profitability
Effective return on capital employed. The return is the (annual) total yield on capital invested. It is usually measured in per cent.
Application of measures serving to improve products, processes or services of any kind. QM is considered part of functional management, aiming to enhance the efficiency of a transaction or workflow.
Recycling
Returning used materials into the economic cycle and processing them into new products. Recycling offers the advantages of a reduction in waste volumes and conservation of raw materials.
Renewable energies
Energies from non-depleting sources including sun, water, wind, geothermal and biomass sources.
RENIXX
Index of the 30 most important worldwide stocks of companies active in wind energy, solar energy, hydropower, bio-energy, geothermal energy and fuel cells.
Ribbon Growth on Substrate (RGS)
Manufacturing process for silicon discs which does not require a block cutting step – the cast silicon immediately crystallizes into discs by growing a thin silicon ribbon on a substrate directly from the molten mass. The specific advantage of the RGS process over comparable processes is the high throughput speed and the high material yield.
RoHS Directive (Restriction of Hazardous Substances)
EU Directive limiting the use of specific substances such as lead and mercury in the manufacture and processing of electrical and electronic devices and components. It aims to eliminate the hazardous substances from throwaway electronic products.
S&P Global Clean Energy Index
The index covers 30 “Clean Energy Companies” worldwide.
Secondary silicon
Silicon generated by recycling.
Social Responsible Investment (SRI)
Socially responsible use of funds; integration of ecological and social concerns in investment decisions, i.e. SRI oriented investors take into consideration not only the financial return but also the influence of society.
Solar cell
Cell
Solar power plant
Complete system of solar modules generating direct current through the photovoltaic effect. Direct current to be fed into the power grid is converted into alternating current by an inverter.
Solar2World
Under the umbrella “Solar2World”, the SOLARWORLD Group pools its ethical activities to promote solar power, in particular in developing countries.
SOLARWORLD No.1
A racer specifically produced in cooperation with Bochum University and exclusively powered with solar energy. The racer is driven by a highly efficient solar generator.
www.solarworldno1.com
Solar-grade silicon
As Solar Grade Silicon we describe silicon crystals with a high degree of purity sufficient for solar applications. The chemical element of silicon is a semiconductor that forms crystals with a stable diamond structure. After oxygen silicon is the second most frequent element in the earth crust. For the processing in the solar field the raw silicon has to be purified into solar-grade silicon and is cast into blocks for cutting into wafers.
SOLEXWorld Solar Energy Index
The index contains the ten largest companies worldwide in the solar industry.
Spin-off
Separating out part of a company and turning it into a new, independent company.
Spot market
General term for markets in which the purchase price is paid immediately upon delivery.
Spread
Describes the difference between two uniform entities that are compared with one another.
Stakeholders
Groups or individuals that may influence the goals achieved by a company or are affected by these goals. The key stakeholder groups include employees, shareholders, investors, suppliers, customers, consumers, authorities and non-governmental organizations.
Sunmodule® Plus
Sunmodule Plus is an innovative module concept. The ’plus’ grade indicates that every module achieves an output above the rated output (according to output test); it thus guarantees optimum efficiency of the system without sorting the modules.
SUNTRAC®
Assembly system for solar modules involving a suntracking mechanism for the assembled module field in order to increase the yield.
Supplier Capital
Intangible assets like for example licences or contracts with suppliers that constitute a certain value.
Suppliers’ market
Market constellation in which demand for a good exceeds supply.
Supply chain
Term used to designate the value added of a product on every stage of production processes. The stages of SOLARWORLD’s supply chain range from silicon to modules.
Sustainability
1) lasting; it describes a system lasting in the long term; 2) scientific concept concerning the objective limits to the use of environmental resources; 3) ethical normative concept hinging upon the question of justice and a balance between value added and ecological damage added.
Sustainability management
Control of ecological, social and economic effects in order to achieve a sustainable corporate and business development and ensure a positive contribution made by the company to the sustainable development of society at large.
TecDAX
Index of medium-sized German companies from the technology industry; in addition to the DAX, the MDAX and the SDAX the TecDAX belongs to the Prime Standard of Deutschen Börse AG.
Total assets
Total of all assets and liabilities in a balance sheet.
Tracker
SUNTRAC®
U
UL-Listing
The most frequently accepted proof that a product meets American and Canadian safety requirements.
Wafers
Thin discs made of solar silicon, used to produce solar cells. They could be mono- as well as poly-crystalline.
Watt
International measuring unit for output, named after James Watt, standard sign “W”.
WEE Directive (Waste Electrical and Electronic Equipment)
EU Directive relating to the collection, treatment and disposal of electrical and electronic scrap and formulating requirements concerning the design of such equipment from a waste management perspective.
West Texas Intermediate (WTI)
A type of crude oil produced in the USA that is used for gasoline production among other things. The WTI price is linked to the Brent price.
Wilderhill New Energy Global Innovation Index (NEX)
The NEX contains worldwide companies whose technologies and services take into consideration future generations and that promote the use of clean and renewable energies.
Working Capital
Current assets minus current liabilities, i.e. the portion of current assets financed with long-term schemes. It provides information about the company’s financial stability and flexibility.
Work-Life-Balance
A term that covers the area of interest dealing mainly with relationships and the interplay between professional (work) and private life.
A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z
ABS
Asset Backed Securities
AG
German Stock Corporation
AktFoV
Regulation on Shareholder Representation (§ 127a of AktG)
AktG
German Stock Corporation Act
BaFin
German Financial Services Agency
BGB
German Civil Code
BSW
German Solar Industry Association
CCRS
Center for Corporate Responsibility and Sustainability at the University of Zurich
CDP
Carbon Disclosure Project
CEO
Chief Executive Officer
CFO
Chief Financial Officer
CNE
Comisión Nacional de Energía
COO
Chief Operating Officer
CSO
Chief Sales Officer
D&O
Directors and Officers
DCC
DC Chemical Co. Ltd.
DIW
German Institute for Economic Research
DVFA
German Association for Financial Analysis and Asset Management
2009e
estimated, estimated value for 2009
EBIT
Earnings before Interests and Taxes
EBITDA
Earnings before interests, taxes, depreciation and amortization
EBT
Earnings before taxes
EEG
German Law on Renewable Energies
EIA
Energy Information Administration
EPIA
European Photovoltaic Industry Association
ERIX
European Renewable Energy Index
GCGC
German Corporate Governance Code
GDP
Gross Domestic Product
GOMAB
SOLARWORLD Employee Profit Sharing Scheme
GPV
Gällivare PhotoVoltaic AB
GRI
Global Reporting Initiative
GW
Gigawatt; 1 GW = 1,000 MW = 1 billion Watt
HGB
German Commercial Code
IAS
International Accounting Standards
IEA
International Energy Agency
IEA-PVPS
Photovoltaic Power Systems Programme
IEC
International Electrotechnical Commission
IFRS
International Financial Reporting Standards
IP
Intellectual Property
ISE
Institute for Solar Energy Systems
ISO
International Organization for Standardization
IT
Information Technology
JSSI
JOINT SOLAR SILICON VERWALTUNGS GmbH
kW
Kilowatt
kWh
Kilowatt per hour; output of 1,000 Watt over a period of one hour
kWp
Kilowatt-peak; standardized electrical output of a solar module
LLC
Limited Liability Company
Ltd.
Limited Company
M&A
Mergers and Acquisitions
MW
Megawatt; 1 MW = 1,000 kW = 1,000,000 Watt
MWp
Megawatt-peak; highest electrical output a module can produce
NAI
Natural Share Index
OECD
Organisation for Economic Cooperation and Development
OPEC
Organization of Petroleum Exporting Countries
p.a.
per annum
PCC
Portland Community Center
PPVX
Photon Photovoltaic Stock Index
PV
Photovoltaic
R&D
Research & Development
RGS
Ribbon Growth on Substrate
ROCE
Return on Capitel Employed
RoHS
Restriction of Hazardous Substances
ROI
Return on Investment
SBSC
Sustainability Balanced Scorecard
SRI
Socially responsible Investing
THM
Technology Center for Semi-Conductor Materials
TUBA
Technical University and Mining Academy
UL
Underwriters Laboratories Inc.
UNEP
United Nations Environment Programme
WEEE
Waste Electrical and Electronical Equipment
WpHG
German Securities Trading Act
WpPG
German Securities Prospectus Act
WTI
West Texas Intermediate
ZEW
Center for European Economic Research Zurich