Discover our upstream and downstream technical journals

Yingli Green Energy reported second quarter 2013 revenue of US$550.4 million, up 26.1% from the prior quarter, helped by increased shipments and stable pricing.

The company said PV product shipments increased by 23.6% from the first quarter of 2013.

Overall gross margin was 11.8%, up from 4.1% in the first quarter of 2013 and 4.6% in the second quarter of 2012.

Liansheng Miao, chairman and chief executive of Yingli Green Energy said: "Our total shipments in the second quarter increased by 23.6% compared to the previous quarter. The growth was primarily attributable to the robust demand from China and the U.S. associated with the traditional peak seasons and the accelerated construction of utility-scale projects. In addition to China and the US, our revenues from Europe tracked better than expected as a result of pull-in demand despite the regulatory uncertainties. Combined with the continuously increasing selling prices and constant reduction of manufacturing cost, we managed to increase our gross margin to 11.8% from 4.1% in the first quarter. "

However, Yingli Green posted a negative operating margin of 3.8% in the second quarter of 2013, compared to negative 12.1% in the first quarter of 2013, while the company reported an operating loss of US£21.1 million.

The increased shipments and stable pricing environment meant the company significantly reduced operating losses from around US$53 million in the previous quarter.

Net loss was US$52.3 million in the second quarter of 2013, compared to around US$100 million in the previous quarter.

The company reiterated previous full-year shipment guidance of 3.2GW to 3.3GW, representing an increase of 39.4% to 43.7% compared to fiscal year 2012.