Hanwha SolarOne has released the preliminary outcome for the company’s fourth quarter 2010 as well as giving a glimpse into its outlook for 2011’s first quarter and fiscal year. Total revenue for the fourth quarter, which ended December 31, 2010, is expected to be between US$325 and US$330 million. Further, total PV module shipments for the quarter, including PV module processing, are anticipated to surpass the company’s previous guidance of 205 to 215MW and reach beyond 220MW.
Hanwha ‘s average selling price (ASP), without PV module processing being included, is being forecasted at US$1.77 per watt, which again is higher than the company’s original guidance of US$1.75 per watt. Finally, gross margins for the fourth quarter should come in at around 20%.
For 2011’s first quarter Hanwha predicts that its total shipments, again including PV module processing, will fall between 235MW and 245MW. Its ASP on the other hand is expected to decline slightly from the fourth quarter, although no numerical guidance was released.
Dr. Peter Xie, president and CEO of Hanwha, commented, “We are pleased with our operating performance during the 2010 fiscal year and expect continued growth throughout 2011. We have good order visibility and expect to regain our momentum in shipment growth quarter-to-quarter. We also expect to benefit from relatively stable pricing as well as improved availability of purchased wafers and cells, which we believe will help to meet incremental demand.”
The company concludes that PV module shipments for the 2011 fiscal year will range between 1 to 1.2GW. “In the second half of 2011, we plan to increase our production capacity with heightened vertical integration, allowing us to improve our cost structure. We also plan to continue to make significant headway in our geographic diversification, growing beyond Germany to reach key overseas markets including China, Italy and the U.S.,” concluded Xie.