JA Solar Beats Revenue Expectations In Q4’2014 Earnings
JA Solar, a Chinese supplier of solar PV modules and the fifth largest in the world, announced its 2014 fourth-quarter and full-year earnings Thursday, beating analyst expectations in the process.
The company announced significant milestones for both fourth-quarter and full-year 2014 earnings, across revenue and shipments.
Fourth quarter shipments totaled 952.7 MW, an increase of 43.2% year over year, and 21.3% over the previous quarter — well above the company’s guidance of 850 to 900 MW. Net revenue for the quarter hit $576.4 million, well up on year over year (65.3%) and the previous quarter (18.4%), with a gross margin of 15%, the same as it was in 2013.
Total shipments for 2014 grew to approximately 3.1 GW, consisting of 2,406.8 MW of modules and module tolling and 651.1 MW of cells and cell tolling. This represented a significant increase of 47.6% from 2.1 GW in 2013. Net revenue for 2014 as a whole reached $1.8 billion (RMB 11.3 billion), a whopping 57.3% increase from 2013’s $1.2 billion (RMB 7.2 billion).
“These strong results capped a year of achievement for JA, in which we solidified our position as a leader within the top tier of solar equipment producers,” said Mr. Baofang Jin, chairman and CEO of JA Solar. “We expect our revenue growth rate of 57% to be among the highest in the industry.”
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“Demand in the China market was as strong as expected, as developers and utilities rushed to meet aggressive government-directed goals for the year,” explained Mr Baofang Jin.
The CEO also stated that “we are enthusiastic about expanding sales into new, underpenetrated geographies such as North America, South America, and India.”
“We are optimistic and confident about the future for JA Solar. We have established our industry leadership in many ways, whether it be the talent and hard work of our employees, or the strength of our customer relationships. We expect our leadership position to drive outstanding results in the year ahead, creating success for our customers, shareholders, and employees.”
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