Published on March 11th, 2014 | by James Ayre2
Trina Solar: 3.6–3.8 GW Of PV Modules Shipping In 2014
March 11th, 2014 by James Ayre
Trina Solar recently announced that it will shipping an incredible 3.6 GW to 3.8 GW worth of solar PV modules in 2014. That’s impressive growth — up from 2.58 GW in 2013, and 1.59 GW in 2012.
Manufacturing capacity is expected to keep up with the increased shipments — ingot/wafer production is expected to rise to 1.7 GW by the end of the year, up from 1.4 GW at the end of 2013; while in-house solar cell capacity is expected to rise to 3 GW, up from 2.5 GW at the end of 2013; and PV module production is expected to rise to 3.8 GW, up from 2.8 GW at the end of 2013. This expansion will result in capital expenditures of between $230-250 million.
The expansion cost won’t be a problem given the company’s impressive financial growth over the last few years — the company reported a full-year net revenue in 2013 of $1.77 billion, up from $1.30 billion in 2012, with an accompanying (huge) increase in gross profit, rising to $218.2 million in 2013, up from $57.2 million in 2012 — an increase of 281.2%.
PV Tech provides more:
Overall gross margin was 12.3% in 2013, compared to 4.4% in 2012, however the company reported a full-year operating loss of US$43.8 million, down from a loss of US$264.9 million in 2012. Operating margin was negative 2.5% in 2013 compared to negative 20.4% in 2012.
Trina Solar reported a full-year net loss of US$77.9 million, compared to a net loss of US$266.6 million in 2012. Net margin was negative 4.4% in 2013, down from a negative 20.6% in 2012.
Net revenues were US$525.6 million, a decrease of 4.1% from the third quarter of 2013. The company reported a quarterly gross profit of US$79.1 million, a decrease of 5.2% from the third quarter of 2013. Operating income was US$14.1 million, an increase of 133.8% from the third quarter of 2013.
Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.