Hanwha Q CELLS lowers full-year module shipment guidance as growth slows

Facebook
Twitter
LinkedIn
Reddit
Email
The SMSL said total module shipments in 2018 would be in the range of 5,500MW to 5,700 MW, down slightly from previously lowered guidance of 5,600MW to 5,800MW. Initial guidance for 2018 had been shipments in the range of 6,000MW to 6,200MW. Image: Hanwha Q CELLS

‘Silicon Module Super League’ (SMSL) member Hanwha Q CELLS has lowered its full-year module shipment guidance a second time this year as business growth slows.

The SMSL said total module shipments in 2018 would be in the range of 5,500MW to 5,700 MW, down slightly from previously lowered guidance of 5,600MW to 5,800MW. Initial guidance for 2018 had been shipments in the range of 6,000MW to 6,200MW. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Total module shipments in 2017 were 5,438MW, indicating shipment growth of almost zero to potentially 262MW for 2018.

Total module shipments in 2017 were 5,438MW, indicating shipment growth of almost zero to potentially 262MW for 2018.

The company reported third quarter revenue of US$559.3 million, up 7.9% from US$518.4 million in the second quarter of 2018. 

The company reported third quarter revenue of US$559.3 million, up 7.9% from US$518.4 million in the second quarter of 2018.

Total revenue for the fourth quarter of 2018 was expected to be in the range of US$590 to US$610 million, indicating full-year revenue to in the range of US$2,110 to US$2,130.7 million, compared to 2017 revenue of US$2,177.4.

Total revenue for the fourth quarter of 2018 was expected to be in the range of US$590 to US$610 million, indicating full-year revenue to in the range of US$2,110 to US$2,130.7 million, compared to 2017 revenue of US$2,177.4.

Hanwha Q CELLS reported a US$108.2 million one-time loss associated with the discontinuation of its China-based ingot manufacturing operations (1.6GW) in September, 2018.

Gross loss in the third quarter of 2018 was US$35.3 million, compared to a gross profit of US$72.6 million in the second quarter of 2018.

Gross loss in the third quarter of 2018 was US$35.3 million, compared to a gross profit of US$72.6 million in the second quarter of 2018.

Gross margin was -6.3%, compared with 14.0% in the second quarter of 2018. Excluding the one-time effects related to the closure of its ingot manufacturing operations, gross margin for the third quarter of 2018 would have been 13.0%. Increased shipment volume in the quarter was said to have mitigated the effects of declining ASPs.

Gross margin was -6.3%, compared with 14.0% in the second quarter of 2018.

The company reported an operating loss of US$107.0 million, compared with an operating income of US$4.8 million in the second quarter of 2018. However, excluding one-time effects, operating income for the third quarter of 2018 would have been US$17.9 million.

At the end of the reporting period, Hanwha Q CELLS had cash and cash equivalents of US$197.4 million, compared with US$156.5 million at the end of the first quarter of 2018. 

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

September 2, 2025
The Fraunhofer Institute for Solar Energy Systems (ISE) will build a pilot solar cell line in Germany to support US manufacturer Talon PV’s efforts to establish solar cell capacity in the US.
September 1, 2025
Solar Organic Centro España is planning to build a 10GW solar module and battery manufacturing facility in the Spanish autonomous community of Castilla-La Mancha.
Premium
August 28, 2025
US solar companies could potentially pay “tens of billions” of dollars in retroactive duties on products imported from Southeast Asia between June 2022 and June 2024, following a decision from the US Court of International Trade (CIT).
August 27, 2025
Long-term procurement decisions from the US solar industry could support US solar manufacturing, regardless of changes to federal tax credits, PV Tech has heard.
Premium
August 27, 2025
American Clean Power Association’s MJ Shiao assesses the state of US PV manufacturing in the wake of recent policy developments.
August 26, 2025
US-based solar module manufacturer Bila Solar will include US-made steel module frames in its 550W dual-glass products.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines