Yingli Solar saw more than 3.3 gigawatts (GW) of its solar photovoltaic (PV) modules shipped globally in 2014, according to the most recent figures. Along with that impressive figure, the company also saw profit grow by 53.4%, with the fourth quarter in particular seeing strong numbers.
Total revenue for the vertically integrated solar energy company, for the year, amounted to RMB 12,927.4 million (~$2,079.83 million) — largely the result of continuing growth in all (or almost all) of the top solar markets of the world.
Despite the good figures, total revenue was actually slightly higher in 2013 — owing to the fact that solar PV system costs have fallen since then. That wasn’t much of a negative, though, as profits hit $360.7 million, and overall losses were shored up to just $34.7 million — leaving a negative operating margin of ‘just’ 1.7%. Overall, those are pretty big improvements to my eyes — and seem to be setting Yingli up for a strong 2015.
This seems especially apparent considering that the 4th quarter in particular saw strong revenue ($555.5 million). Module shipments, as well, rose slightly from 903.4 MW in the third quarter of 2014 up to 939.2 MW in the fourth.
Total profit, though, for the fourth quarter, is where it gets good — it was up to RMB 578.7 million (~$93 million), up from RMB 451.7 million in the fourth quarter of 2013. Operating expenses were also cut considerably during the time period — with fourth quarter operating expenses in 2014 totalling 778.7 million (~$125 million), as compared to RMB 1,045.9 million during fourth quarter 2013.
Reportedly, Yingli is expecting to ship 3.6–3.9 GW of solar modules globally in 2015 — representing a potential increase of 7.1–16%.
“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,” stated Yingli Green Energy chairman and CEO Liansheng Miao.
Image Credit: Yingli Solar
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