SolarWorld expects shipments to increase 25% and surpass 1GW in 2015

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Tier-one PV manufacturer SolarWorld has reported that total shipments increased 55% in 2014 and guided shipments in 2015 to increase a further 25% and surpass 1GW.

SolarWorld reported full-year 2014 financial results in line with preliminary guidance that included revenue up 26% to €573 million, compared to €456 million in 2013.
 
The company made a turnaround in operating earnings before interest, taxes, depreciation and amortization (EBITDA) of a positive €108 million, compared to a negative EBITDA of €147 million in the previous year. 

Total product shipments increased 55% to 849MW in 2014, up from 548MW in 2013 and at the high end of previous shipment guidance. The company reached a new module shipment milestone in September 2014, exceeding 100MW in a single month for the first time. 

Shipments outside Germany accounted for 86% of the total (9% up on 2013), driven by the US accounting for 41% of total shipments in 2014 and almost doubling from the previous year. Overseas shipments in 2013 accounted for 77% of the total. 

External wafer sales were 24MW in 2014, down from 40MW in 2013. 

Guidance 

SolarWorld guided total shipments (wafers, modules and kits) were expected to exceed 1GW in 2015 and generated revenue of over €700 million and return to profitability. 

The company noted that shipments in the first quarter of 2015 had increased by more than 30%, compared with the prior year period, which indicated total shipments of over 200MW. 

SolarWorld expects the US to account for over 50% of shipments in 2015. 

The company reiterated plans to shift all solar cell production capacity to PERC technology in 2015 and reach a group wide capacity of 1.6GW in 2015. 

The company had wafer capacity of 750MW, cell capacity of 1,360MW and module capacity of 1,230MW at the end of 2014. 

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