Daqo New Energy: Record Polysilicon Production, Low ASP in the Third Quarter 2015

published: 2015-11-19 18:24 | editor: | category: News

Daqo New Energy announced the financial results for the third quarter of 2015. The newly expanded 2B polysilicon production capacity successfully increased its production volume to ramp up.

Third Quarter 2015 Financial and Operating Highlights

  • Polysilicon production volume of 2,689 MT in Q3 2015, an increase of 55.1% from 1,734 MT in Q2 2015
  • Polysilicon external sales volume(1) of 2,277 MT in Q3 2015, an increase of 67.1% from to 1,363 MT in Q2 2015
  • Polysilicon average total production cost(2) of $11.15/kg in Q3 2015, a decrease of 14.1% from $12.98/kg in Q2 2015;
  • Polysilicon average cash cost(2) of $8.71/kg in Q3 2015, a decrease of 17.8% from $10.60/kg in Q2 2015
  • Average selling price (ASP) of polysilicon was $14.98/kg in Q3 2015, a decrease of 6.1% from $15.95/kg in Q2 2015
  • Solar Wafer sales volume of 19.1 million pieces in Q3 2015, an increase of 4.4% from 18.3 million pieces in Q2 2015
  • Revenue of $46.6 million in Q3 2015, an increase of 35.9% from revenue of $34.3 million in Q2 2015
  • Non-GAAP gross margin(3) of 23.4% in Q3 2015, compared to 19.6% in Q2 2015
  • EBITDA(non-GAAP)(3) of $15.0 million in Q3 2015, an increase of 78.6% from $8.4 million in Q2 2015
  • EBITDA margin (non-GAAP)(3) of 32.1% in Q3 2015, compared to 24.6% in Q2 2015
  • Net income attributable to Daqo New Energy shareholders of $3.1 million in Q3 2015, compared to net loss attributable to Daqo New Energy shareholders of $0.9 million in Q2 2015 and net income attributable to Daqo New Energy shareholders of $5.9 million in Q3 2014.
  • Earnings per basic ADS of $0.29 in Q3 2015, compared to loss per basic ADS of $0.09 in Q2 2015, and earnings per basic ADS of $0.66 in Q3 2014.
  • Adjusted net income (non-GAAP)(3) attributable to Daqo New Energy shareholders of $6.3 million in Q3 2015, compared to $2.7 million in Q2 2015 and $9.7 million in Q3 2014.
  • Adjusted earnings per basic ADS (non-GAAP)(3) of $0.60, compared to $0.26 in Q2 2015, and $1.09 Q3 2014.

Full Report: Daqo New Energy Announces Unaudited Third Quarter 2015 Results

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