Yingli Green, after much delay, has finally published its Q4’15 and Full Year 2015 results, with an impressive net loss of $864.6 million.
Yingli Green had to delay filing its Q4’15 and Full Year 2015 results as it needed more time to better assess its state of affairs.
This week, Yingli Green revealed that it had suffered a net loss of $864.6 million, and a loss per share of $47.6, significantly lower than its net losses in 2014. On a non-GAAP basis, the company’s adjusted net loss was $358.2 million, at a per share of $19.7.
Full year net revenue was $1,538.5 million, with the company shipping a total of 2,447 MW of solar modules for the year, slightly exceeding its own previous guidance of between 2.35 GW and 2.40 GW. For the fourth quarter, Yingli Green saw net revenue of $325.7 million, and shipments of 504.5 MW, up from the third quarter, and well above the company’s guidance of 420 MW to 440 MW.
Yingli Green’s results were so surprising that the company’s shares actually saw something of an uptick on trading late Tuesday and through Wednesday.
The company was subdued in praising its 2015 results, but was hopeful for the future.
“In 2016, with a series of supportive policies for the solar industry issued by the Chinese government, we will strive to continue to strengthen cooperation with our large clients such as state-owned enterprises controlled by central and local governments in China as well as influential private enterprises, funds, EPCs with strong financial background in order to increase our sales in the domestic market and accelerate our working capital turnover,” said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy “By the end of April, we had secured PV module orders of over 700 MW from China in 2016, among those, more than half are covered by full amount cash prepayment agreements.”
“Looking ahead, we expect 2016 to be an important year of transformation for us. We will continue to actively explore methods to improve our operating fundamentals through reducing manufacturing costs and related expenses and pursuing various alternative financing options including restructuring our debts as feasible in order to achieve a successful transformation.”
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