Integrated PV manufacturer SolarWorld has updated full-year guidance for 2015, which includes expecting to report a profit for the first time in several years on shipments of over 1GW.
SolarWorld has reported preliminary first half 2015 revenue of €320 million (US$351 million) on shipments of 440MW. Revenue increased 40% from the prior year period as shipments increased 32%.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Shipments of modules and kits overseas, primarily in the US increased by 7% to account for 87% of shipments in the first half of 2015, compared to prior year period.
The company said that earnings before interest, taxes, depreciation and amortization (EBITDA) increased to €10 million in the first half of 2015.
SolarWorld expects wide shipments in 2015 to increase by at least 25% over 2014, with shipments in excess of 1GW and revenue above €700 million. EBITDA was expected to be ‘significantly’ higher than the €2 million reported in the prior year, ahead of one-off items.
Based on its preliminary results, SolarWorld shipped 238MW in the second quarter of 2015, up from 202MW in the previous quarter, around a 17% quarter-on-quarter increase.
Shipments remain below the average quarterly run-rate to achieve 1GW of annual shipments, indicating expectations of the company to further increase shipments (560MW plus) in the second-half of the year to meet guidance.
