Yingli Green Energy has become the latest company to feel the force of the global slowdown in the PV industry and has revised its Q1 shipping guidance accordingly. Last winter’s inclement weather and cuts to Italy’s feed-in tariff has hit demand across the board, and Yingli is forecasting quarter-to-quarter shipments to fall by “a low-teen percentage.”
The revised figure is a considerable climbdown from Yingli’s initial forecast of mid-single digit percentage growth between Q4 2010 to Q1, although the company has reaffirmed its module shipment target for 2011 to be in the range of 1,700MW to 1,750MW.
In light of the market conditions, gross margin expectations have also been lowered. Yingli predicts the Q1 figure to come in somewhere between 27 and 27.5% – below the previous guidance figure of 30-31%.
Despite the pessimistic outlook for Q1, Yingli’s Q2 outlook was far more bullish, with forecasts of a 30%-plus increase in module shipment.