Sunways expects to be back in the black by 2014 with help from LDK Solar

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Sunways seemed hopeful today that by 2014, and on, it will once again be producing operating profits, thanks to LDK Solar taking over as its new majority shareholder. For its solar modules business, Sunways looks to continue building on its brand and service quality with LDK Solar, while in the solar cells segment, Sunways is expected to play a large role as a technology excellence centre within the LDK Solar Group.

The public takeover also means that Sunways will become a competence centre for solar inverters within the LDK Solar Group. Michael Wilhelm, CEO of Sunways, noted that, “a joint market entry with LDK Solar is planned in Canada, the US as well as in China. Five years from now, Sunways and LDK Solar plan to be among the largest three manufacturers of solar inverters worldwide.”

“At present, we have to cope with individual, but mostly also with industry-related structural problems. The pace of consolidation in the photovoltaics industry has accelerated significantly,” said Wilhelm. He emphasized that “Due to the partnership with the LDK Solar Group, the prospects of the technology specialist Sunways are much better than they would be under a stand-alone strategy. In terms of operating profit, we plan to report black figures again in 2014.”

The management board remains cautious in regards to its current fiscal year status, advising that “in the fiscal year 2012, we want to stabilize the development of our sales volumes and revenues and reduce our losses as compared to 2011.” The board notes that because of an unsteady political and economic foundation, it cannot give a more precise prognosis at this time.

Looking to the future market, Wilhelm stated, “in the future, volume growth in photovoltaics will increasingly be generated abroad, while holistic energy generation, storage and management systems will become more important in Germany. The Chinese market can only be conquered together with an experienced local partner – whom we have found in LDK Solar.”

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