Trina Solar: 3.6–3.8 GW Of PV Modules Shipping In 2014

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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.

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