Despite a booming domestic market, Japanese electronics giant, Panasonic reported stagnant PV module system sales for financial year 2013.
Panasonic’s Energy segment sales decreased by 4% to 592.3 billion yen (US$5.7 billion) in FY2013, down from 614.9 billion (US$6.0 billion) in 2012.
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The company said that the decline was due to a stagnant solar systems business impacted by the European PV market decline, notably in Germany. Declining ASPs were also noted for the lack of sales growth and would also contribute to a further decline in its Eco Solutions division sales in FY2014.
However, segment profit improved significantly to 8.3 billion yen (US$81.0 million), compared to a loss of 20.9 billion yen (US$203.9 million) in 2012. This was said to have been due to fixed cost reduction and streamlining material costs.
Panasonic reported total group-wide capital expenditure in 2013 decreased by 7% to 310.9 billion yen (US$3 billion). Spending included expanding solar cell capacity and facilities in Malaysia.
Panasonic does not appear in either IHS or NPD Solarbuzz PV module rankings for the top 15 suppliers in 2013.