The world’s number one solar PV module producer, Trina Solar, has reported yet another quarter of record shipments and increases in earnings.
The Chinese solar PV manufacturer reported its fourth quarter 2015 and full-year 2015 financial reports this week, and it was full of more record shipments and more increases in earnings, exceeding analysts’ forecasts yet again. Furthermore, Trina Solar is predicting it will be able to increase solar PV module shipments by 10% at the end of the year.
Trina Solar shipped a total of 1,776.3 MW of solar PV modules in the fourth quarter, including 196.6 MW to its own downstream projects. Net revenues increased 21.4% from the third quarter, to rest at $961.9 million for the quarter, a 36.4% increase over the same quarter a year earlier.
“We are pleased to report another quarter of record shipments and a sequential increase in earnings,” said Mr. Jifan Gao, Chairman and CEO of Trina Solar. “Our module shipments during the quarter hit an all-time high of 1.78 GW, which once again exceeded the high-end of our guidance. We continue to maintain our position as the world’s largest solar module manufacturer and a leading solar project developer and operator.”
Full year 2015 shipments reached approximately 5.74 GW, a substantial increase of 56.8% over 2014’s 3.66 GW. This brought the company’s net revenues up to $3.0 billion, an increase of 32.8% over 2014, with earnings per share of $0.86.
“2015 was in many ways a strong year for Trina Solar as we achieved record results on both a sequential and year-over-year basis in each quarter,” Mr Gao added.
A strong 2015 is therefore expected to make way for an even stronger 2016, according to Trina Solar’s 2016 guidance. Specifically, across its four main production areas, Trina Solar is expecting annual capacities of:
- Ingot production capacity of approximately 2.3 GW
- Wafer capacity of approximately 1.8 GW
- PV cell capacity of approximately 5.0 GW
- PV module capacity of approximately 6.0 GW
Total PV module shipments are expected to be in the range of 6.30 GW and 6.55 GW, with between 450 MW and 550 MW shipped to the company’s own downstream projects, of which the company is expecting to connect between 750 MW and 850 MW globally.
Trina Solar’s earnings come hot on the heels of two separate pieces of news which classified the company as not only remaining the world’s leading solar PV module producer, but also the most bankable solar PV company in the whole industry.