PV project lumpiness and weakness in polysilicon investments impacted first quarter 2013 sales at power electronics specialist, 3W Power/AEG Power Solutions.
After a strong €111 million order intake in the fourth quarter of 2012, total new order intake was down almost 50% (47.9%) from the prior quarter. PV projects business orders were €11.8 million, down 82% from the fourth quarter. POC segment (polysilicon power electronics) order intake was €6.6 million, up 69.2% from the previous quarter but down 72.4%, year on year.
The company reported first quarter solar segment revenue of €40.6 million up 250% year on year due to a large 240MW contract for complete electrical system supplies to nine PV power plants in Eastern Europe.
POC segment revenue was €15.0 million, down 29.7% year-on-year due to the CapEx cycle trough for the expansion of polysilicon production capacity.
Management said in a conference call to discuss quarterly results that it expected full-year revenue to be in line with 2012, though quarterly sales would remain lumpy due to the nature of large-scale PV power plant business.