DMEGC has released its 2024 annual report, revealing that the company achieved annual revenue of €2.4 billion, with a net profit attributable to the parent company of €238 million, marking a slight year-on-year increase.
The report highlighted that DMEGC PV product shipments reached 17.2 GW, a 73% increase over the previous year, the growth attributed to the company’s successful differentiated product strategy, the rising market share of N-type cells and modules, industry-leading non-silicon costs, top-tier cell efficiency and an increasingly strong brand recognition. Additionally, the company’s magnetic materials and lithium battery businesses achieved robust shipment growth of 17% and 56%, respectively.
Despite the ongoing downturn in PV industry prices last year, DMEGC maintained a gross margin of 18.74% for its PV products, representing only a slight decrease of 2.07% year-on-year. This resilience was partly due to the company’s expansion into PV power plant operations, the report noting the establishment of a professional operational framework for large-scale centralized and distributed project investments, EPC construction and maintenance services.
