UK-based merchant solar wafer producer, PV Crystalox Solar reported increased shipments and revenue but margin decline due to lower wafer selling prices and stable polysilicon purchase pricing led to a loss in the first half of 2014.
The company reported wafer shipments of 99MW for the reporting period, up slightly from 84MW in the prior year period as sales to PV manufacturers in Europe and Taiwan increased.
PV Crystalox reported revenue of £30.1 million, up from £28.3 million in the prior year period. The margin squeeze led to a loss from continuing operations of £6.9 million compared to a small profit of £1.3 million in prior year period.
The wafer producer is currently operating at 30% utilisation rates with a nameplate capacity of 750MW.