Solar panel manufacturer Yingli Green Energy, also known as Yingli
Solar, reported its 2014 fourth quarter and full-year earnings on
Wednesday, and it wasn’t good news, with a greater-than-expected
operating loss and relatively flat shipments and revenue for the year. Total
revenue for the company in the fourth quarter was $555.5 million, down
on a year previously. Total shipments reached 939.2 MW for the quarter,
but the company’s operating loss was $32.2 million, representing a
negative 5.8% of operating margin.
For the full year 2014, total revenue was $2,083.5 million, down
again on 2013 figures, with shipments reaching 3,361.3 MW. The company’s
operating loss for the full year sat at $34.7 million.
The company’s shares, which has been incurring losses for several
years now, incurred heavy losses on Wednesday, dropping to below $2 a
share.
Nevertheless, Mr. Liansheng Miao, Chairman and Chief Executive
Officer of Yingli Green Energy didn’t let these negatives dampen his
comments: “We are pleased to conclude another solid year in 2014, with full year module shipments hitting a record high of 3.3
GW and full year gross margin increasing to 17.3% from 10.9% in 2013,
which was mainly attributable to our continuous efforts to diversify our
market presence, reduce manufacturing cost and improve our
profitability.”
With over 1.6 GW of PC projects currently in the company’s pipeline,
Yingli Solar “expects the global PV demand” to continue “to show healthy
growth in 2015.” Yingli Solar now expects to ship between 400 and 600
MW of PV modules to its downstream projects in 2015, with a same amount
completed by the end of the year.
Yingli Solar’s PV module shipment target for the full year is between 3.6 GW and 3.9 GW.
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