LDK Solar makes significant revisions to 2Q and 2011 guidance

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

In a single stroke, LDK Solar has wiped US$1 billion in expected revenue from its 2011 guidance on the back of significant price declines for bare wafers and solar modules. In the second quarter, LDK is planning US$55 to US$60 million of inventory write-downs, the largest so far of any PV manufacturer. Instead of expected 2011 revenue in the range of US$3.5-US$3.7 billion, the company expects full-year revenue to reach US$2.5-US$2.7 billion. Gross margin for the second quarter of 2011 is expected to be in the range of 1.5-2.5%, compared to a previous guidance range of between 22% and 26%. Revised revenue guidance is to be in the range of US$480-US$500 million, compared to its previous guidance range of US$710-US$760 million.

Wafer shipments in the second quarter are expected to be between 410MW-430MW, module shipments between 75MW-80 MW, in-house polysilicon production between 2,700MT-2,750MT and in-house cell production between 120MW-125MW.

Previously, LDK had guided shipments between 500MW-550MW; module shipments were anticipated to fall between 200MW-220MW, while its in-house polysilicon production was expected to be in the range of 2,650MT-2,750MT. In-house cell production was previously expected to be within the range of 120MW-130MW.

Under revised 2011 guidance, LDK expects wafer shipments between 1.8GW-2.0 GW, module shipments between 750MW-800MW, in-house polysilicon production between 10,000MT-11,000 MT, in-house cell production between 600MW-700 MW and gross margins between 15% and 20%. 

Significantly, in wiping US$1.0 billion from its revenue guidance for the full year, LDK has wiped just over 1GW (2.7GW-2.9GW) from its wafer shipment guidance.

However, module shipments are expected to rise slightly to between 800MW and 900MW.

In-house cell production is expected to be between 500MW and 600MW, a small decrease from previous guidance. Polysilicon production guidance remains the same.

Full-year gross margin is expected to be between 24% and 29%.

Overall, the revisions are some of largest yet seen from major PV manufacturers and are in stark contrast to LDK’s view of expected financial performance in previous guidance given only a quarter ago.

28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.
20 October 2021
Utility-scale solar is evolving, shaped by higher power modules and demand for increasingly lower levelised cost of electricity (LCOE). Those trends are also changing project requirements elsewhere, with inverters capable of delivering high power density and power capacity in strong demand. In this webinar, FIMER will detail how its innovative high-power, multi-MPPT string inverter and modular conversion solution can both meet those demands and transform the utility-scale solar sector for the better.

Read Next

September 24, 2021
Independent power producer Catalyze has acquired commercial and industrial (C&I) solar developer Sol Alliance, expanding its presence in the northeast of the US and taking on an 80MW project development pipeline in the process.
September 24, 2021
California Governor Gavin Newsom has signed a US$15 billion package to fund programmes to tackle drought and climate change in the state
PV Tech Premium
September 24, 2021
Concerns have been raised that new measures introduced by Spain’s government to limit windfall profits of renewable energy plants could dent investor confidence and impact the stability of the country’s solar sector.
September 24, 2021
DNV-owned solar monitoring firm GreenPowerMonitor is to integrate Alteso’s solar analytics tech platform into its offering after striking a deal to acquire it.
September 23, 2021
A project that bids to combine up to 20GW of solar PV with the world’s largest energy storage battery and a 4,200km-long subsea power cable has moved a step forward after Indonesian authorities greenlit its proposed transmission cable route.
September 23, 2021
US national residential and C&I solar plant performance assessment company Omnidian has completed a US$33 million Series B raise.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021