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SolarWorld AG announced its group interim report for the first quarter of 2015. The company’s module shipment increased 44% compared to 1Q14, while the shipment in the U.S. rapidly increased 170%. The revenue in the first three months grew by 50% thanks to the well performance in the U.S. market. SolarWorld additionally expects a 430MW of PERC cell production in the U.S. cell plants.
In the first quarter, SolarWorld shipped 202MW of solar power modules, and the shipment in the United Sates was 116MW. The shipment volumes in the first quarter of 2014 were respectively 140MW (in total) and 43MW (in the U.S.). The business in the U.S. contributed 57% of SolarWorld’s total shipment of modules and kits. Meanwhile, shipment in Japan, Australia and South Africa increased, too.
“The signs point to growth. We will boost shipments and revenue, expand our capacities to this end and will further increase our efficiency and cost structure, not least by investing in new technologies,” says Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG. “On this basis, we will achieve a positive EBIT without potential one-off effects in the entire fiscal year 2015 as planned.”
Increase in share of high efficiency module in groupwide shipment, in conjunction with exchange rate effects, helped SolarWorld increase average sales prices of its products on a euro basis, resulting in a disproportionately large increase in revenues compared with the increase in shipments. In the first quarter of 2015, consolidated revenue grew by 50% to € 149.1 million compared to € 99.4 million in 1Q14. In addition, the consolidated EBITA rose from € 1.6 in 1Q14 to € 2.9 million. EBIT was € -8.0 million.
For 2015, SolarWorld expects a shipment (solar wafers and cells included) increase by at least 25% compared with 2014. With the 25% increase, its cell production would exceed 1GW in 2015. Consolidated revenue of 2015 is also expected to reach more than € 700 million
Group interim report of SolarWorld AG on Q1 2015: www.solarworld.de/financial-reports
PERC production expectation
In the U.S. market, SolarWolrd expects 430 MW of PERC cell production in the second quarter, reported PV Tech.
SolarWorld has upgraded around 330MW of cell production to PERC at its Hillsboro plant in the U.S. There will be additional 100MW of PERC cell production to be migrated to PERC in the second quarter of 2015. According to PV Tech, SolarWorld’s major manufacturing strategy in 2015 is to increase production capacity and to harmonize cell production at all three plants to PERC processes.
The upgrade and expansion have had a total of €9.3 million investment in plant, property and equipment in the first quarter of 2015, largely increased from €2.6 million in the first quarter of 2014.
In addition, SolarWorld expects a stronger demand to monocrystalline PV modules using PERC cell technology in the U.S., so its monocrystalline wafer production could restart production at the former Bosch facility in Arnstadt.
(Photo Credit: Commons Wikimedia)