Hanwha energy 2014 Q2 PV module shipments up significantly narrower net loss

Polaris solar PV net news: on August 28, 2014, China solar cell makers hanwha Energy Announces second quarter financial results. It was reported in the second quarter, problems, new energy PV module, up 5.9%, to 339.5 MW; revenue fell 2.7% to $ 178.5 million; operating margin-3.6%, a net loss of $ 8.832 million.

Second-quarter problems, the main features of the new energy performance: component shipments edged up slightly, net loss narrowed substantially, Japan market performance continues to perform well.

Performance highlights:

Net revenues of $ 178.5 million, down from $ 183.1 million last quarter 2.7%

PV module shipments 339.5 MW, 323.6 megawatts in the last quarter rose 4.9%

Average sales price of $ 0.67 per watt, down from last quarter’s $ 0.69 2.3%

Gross profit of $ 16.9 million, down from last quarter’s $ 2540 33.5%; gross profit 9.5%, last quarter of 13.9%

Operating profit of $ 6.4 million, $ 3.5 million last quarter; operating margin-3.6%, last quarter of 1.9%

A net loss of $ 8.8 million, last quarter’s loss of $ 21.5 million

Lower average selling prices lower gross profit margin

Earnings in the second quarter, hanwha energy gross margins 105.1 million Yuan ($ 16.9 million), compared with 158.1 million last quarter and gross margins below last quarter’s 13.9% 9.5%.

“Due to higher prices in Europe (especially the United Kingdom) sales have been cut as well as the relatively lower-priced Chinese market performance continues to expand, the company’s second-quarter average selling price is cheaper, and becomes lower the company’s total revenues and gross profit margins and the ‘ originator ‘. “Hanwha Chairman and Chief Executive of new energy nanshengyu (Seong-wooNam) explains.

Performance in the second half are expected to make positive progress

“This quarter, we remained Japan’s leading position in the market and began to sell products to several emerging markets. We will continue to work closely to control operational expenses. ”

Nanshengyu pointed out that the second half of the problems, the new energy business is expected to make a series of positive developments:

1) with a variety of positive factors (among other things becoming clear to the Chinese market) appears, the company quarter shipments are expected to grow strongly

2) along with the efficiency and solar ingot and wafer production line efficiency improvements, manufacturing costs are expected to cut

3) launches new bus solar cell technology,

4) by reducing the amount of raw materials used to reduce technology costs

5) product line to improve

6) add new batteries and component cable

Japan market remains strong

Hanwha energy pointed out that, in the second quarter, corporate Japan market development remains strong, PV module shipments accounted for 53%. United States replace the United Kingdom became the company’s second largest market.

Results revealed that second-quarter problems, the new energy United Kingdom shipments of only 9% per cent of total shipments. Because the United Kingdom revised incentive mechanism, utility-grade solar energy sector market demand reductions.

In addition, the enterprise Korea and Canada shipments accounted for 9% and 7%, respectively. Chinese shipments accounted for positive bounce from 6%.

Hanwha energy announced second-quarter sales to as many as 23 countries PV modules, containing multiple notable emerging solar market (including Turkey). Exports to the European and African (EA) shipments accounted for 12%, the North American (NA) area shipments accounted for more than 18%, Asia-Pacific (AP) shipments ratio is as high as 70%.

Performance expectations

As of June 30, hanwha energy ingots and wafers, solar cells and PV module capacity 800 MW, respectively, 1.5 and 1.3 GW GW. The company plans by the end of 2014, the battery with the capacity to extend at least 1.5 GW of 2.0 gigawatts.

Hanwha energy is expected in the second quarter, and module shipments rose slightly to 400 MW, between the 2014 annual shipments of 1.5-1.6 gigawatts.

Original title: hanwha 2014 Q2 new energy PV module shipments up significantly narrower net loss

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