Hanwha Q CELLS release Q1 financial results revenues decreased by 27

Polaris solar PV net news: May 19, 2016, hanwha Q CELLS (Korea, Seoul) reported first quarter unaudited financial results of its 2016.

2016 solar PV module shipments totaled 912MW in the first quarter, exceeding expectations 850MW to 900MW. Net income was $ 514.9 million in 2015, $ 702.1 million in the fourth quarter, 2015 to $ 333.5 million in the first quarter.

2016 gross profit of us $ 109 million in the first quarter in 2015, $ 134.2 million for the fourth quarter in 2015, $ 48.4 million in the first quarter.

In 2016, the first-quarter gross margin of 21.2% in 2015, fourth-quarter gross margin of 19.1%, 2015 first-quarter gross margin of 14.5%.

Hanwha’s Chairman and Chief Executive Officer of Seong-wooNam commented: “as we profit this year 2016 start deploying the right strategy to meet the demand for our products continues to grow, further growth in our technology and quality leadership. ”

As of March 31, 2016, Germany ingot production capacity reached 1,400MW, solar wafer capacity of 900MW, solar cell production capacity reached 4,850MW, photovoltaic modules reaches 4,800MW.

Solar cell and solar module nameplate capacity respectively to 5.2GW and 5.2GW.

The company is currently in the process of its cells and modules installed capacity expanded to include 5200MW and 5200MW, respectively, is expected to be completed by 2016.

The year 2016, the company expects shipments of components will be from 4,800MW to 5,000MW, 4,500 to 4,700MW growth than previously expected, revenue shipments of components from 4,600MW to 4,800MW. (/Tina translation)

Original title: hanwha Q CELLS release Q1 financial results: revenues decreased by 27%

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