One of the world’s largest solar photovoltaic (PV) manufacturers, Yingli Solar, announced its second quarter 2014 results on Wednesday — figures which, while solid, represented the general malaise affecting the global solar industry at the moment.
The company announced a net revenue of $549.5 million, a small gain on both the first quarter of 2014 and the same quarter in 2013. The company also saw strong shipments over the quarter, with an increase of 40.8% over the first quarter of 2014.
Chairman and CEO Liansheng Miao commented that the strong quarter in shipments was thanks in part to increased demand for Yingli Solar modules from key markets in China, Japan, the UK and new emerging markets.
“In particular, our shipments to new emerging markets in the second quarter increased by approximately 18% quarter over quarter while customer base doubled compared with the second quarter of 2013,” he said in the company’s earnings conference call.
The company is looking forward to “returning to net profitability,” promising to improve operating efficiency, reduce manufacturing costs, and optimize their geographical footprints. But investors don’t seem to be overly content with Miao’s assurances, as the company’s US shares have steadily declined over the past two days.
The solar industry has been reporting mediocre gains this second quarter, after a torrid few months where trade disputes and market-oversupply left many manufacturers reporting losses.
First Solar reported a drop in sales in their second quarter, down to $544 million from an impressive $950 million in the first quarter, while SunPower reported a 12% revenue drop year-over-year.
The industry is attempting to restart, but the good news seems to be restricted to Chinese solar PV module suppliers, such as Trina Solar, Canadian Solar, Jinko Solar, and JA Solar.
Yingli Solar’s earnings presentation is available for download (PDF) as well as its results and earnings conference call via their investor page.
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