* Sees 2011 sales above 2010 levels of 1.305 bln eur
* Expects sales to rise further in 2012, profits to rise
* Japan crisis will transform energy landscape - CEO
* Shares up 1.2 pct
(Adds details, background)
BONN, March 24 (Reuters) - SolarWorld (SWVG.DE), Germany's No.2 solar company by market value, sees higher sales this year and next, taking heart from a strong U.S. market and a boost to the renewable industry following Japan's nuclear crisis.
The renewable sector has seen a massive surge since a 9.0-magnitude earthquake caused a nuclear crisis in Japan and governments around the world pledged to speed up switching to renewable sources of energy. [ID:nLDE72A217]
Since March 10, SolarWorld shares are up by more than 30 percent, outperforming gains of other sector bellwethers such as Suntech (STP.N), First Solar (FSLR.O), Renewable Energy Corp (REC) (REC.OL) and SMA Solar (S92G.DE). [ID:nLDE72A217]
"The crisis in Japan hits the world. It shows in a very disturbing way that cheap, safe and clean nuclear power is an illusion," Chief Executive Frank Asbeck said in the company's annual report, adding the crisis would boost the green sector.
SolarWorld said on Thursday that it expected 2011 sales to exceed the level of 2010, when the company generated 1.305 billion euros ($1.84 billion), and added it also expected sales to rise further in 2012. It gave no profit outlook for 2011.
Asbeck, nicknamed the "sun king" for his outgoing nature, had told Reuters already last month that sales would rise this year, but refrained from giving further details at the time. [ID:nWEB7098]
Thomson Reuters I/B/E/S estimates show that SolarWorld's revenues are expected to grow by more than 13 percent to 1.477 billion in 2011, while 2012 sales are seen at 1.62 billion. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Graphic of nuclear crisis' impact on green energy stocks:
r.reuters.com/fex58r
r.reuters.com/rex58r
For an ANALYSIS on the nuclear crisis' impact
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