Uptick in interest but no orders from solar manufacturers for BTU International

Facebook
Twitter
LinkedIn
Reddit
Email

PV equipment supplier, BTU International, has reported third quarter net sales of US$12.0 million, down 15.7% compared to US$14.2 million in the preceding quarter as little sales activity was generated from the PV sector.

Management noted that despite downstream PV demand growth, customers had yet to place orders as utilisation rates continued to increase, echoing reports that manufacturers across the supply chain are retaining tight control of capital spending and focusing on returning to profitability than adding capacity and gaining market share.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Paul J. van der Wansem, BTU chairman and CEO, said: “Our electronics business continued to be the key contributor for our revenues during the quarter and nine month period. Growth in the Asia Pacific markets has moderated in the past quarter compared to historical levels. In solar, we are encouraged by early signs of interest by customers about improving factory efficiencies and potentially increasing capacities once we are beyond the current imbalance in supply versus demand.”

The company also reported higher than expected losses of US$5.1 million in the third quarter of 2013 due to a settlement of a legal dispute with a customer over equipment deliveries back in 2006, and the recording of a full valuation allowance against the deferred tax assets of the company's China subsidiary.

“On the technology side, we are pleased with the engagement of the Fraunhofer Institute, Europe's largest application-oriented research organisation located in Germany, involving process development using our in-line diffusion concepts as part of manufacturing technology for existing and advanced cell structures,” added van der Wansem.

BTU International said that it expected revenue in the fourth quarter in the US$13.5 million to US$14.5 million range but added that gross margins would continue to be affected by under absorption factory utilisation, due to the absence of solar customer demand.

“With the increase in customer interest in production efficiencies, we see a potential for solar orders later in the year [2014],” concluded van der Wansem.

Read Next

December 9, 2024
Located in the northern department of Atlantic, Enel says the Guayepo I and II project is the country’s largest operational solar site.
December 9, 2024
Sunstone is set to begin its engineering and procurement phase in early 2025 and start phased construction in 2026.
Premium
December 9, 2024
After a challenging year for polysilicon producers, Carrie Xiao assesses whether market conditions will improve and prices rebound.
December 9, 2024
US renewable energy developer, Longroad Energy, announced financial close of 111MWdc solar and 85MWac/340MWh storage project Sun Pond in Maricopa County, Arizona, 4 December.
December 9, 2024
Swiss solar manufacturer Meyer Burger has secured US$39.48 million to support its restructuring operations and “stabilise” its business.
December 9, 2024
Chinese solar module manufacturer JinkoSolar has filed a patent infringement action in the US District Court for the Northern District of California (San Francisco) against VSUN Solar USA, Toyo and its affiliates in the US and abroad.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
December 12, 2024
9am GMT / 10am CET
Solar Media Events, Upcoming Webinars
December 18, 2024
9am GMT / 10am CET
Solar Media Events
February 4, 2025
London, UK
Solar Media Events
February 17, 2025
London, UK