In the financial results for the first quarter of 2015, Trina Solar shipped more than 1GW of PV modules, drastically increasing from 550MW shipment in 1Q14 and was higher than the company’s guidance of 840MW to 870MW. The net income also increased from the previous quarter.
“In line with increasing global demand, our plans to expand our capacity remain on-track for both our domestic and overseas facilities, which will ensure we will be able to meet growing demand for the remainder of the year and beyond,” saidMr. Jifan Gao, Chairman and CEO of Trina Solar. “Our Malaysia facility, along with our recently announced Thailand facility, will serve to not only expand production, but also enhance our competitiveness in the global markets.”
Trina Solar’s manufacturing capacity of wafer reached about 1.7GW, PV cell 3.2GW, and PV module 4.0GW. All the indexes are equivalent to, or close to the company’s FY 2015 guidance.
Development of distributed generation projects in China is also a major target to be devoted to, according to Gao. Business in UK also contributed a significant value to the company’s financial results.
First quarter 2015 Financial and Operating Highlights
- Total module shipments were 1,026.2 MW, consisting of 891.7 MW of external shipments and 134.5 MW shipments to the Company's own downstream solar power projects. This compares with total shipments of 1,098.8 MW in the fourth quarter of 2014 and 558.0 MW in the first quarter of 2014, and the company's guidance of 840 MW to 870 MW.
- Net revenues were $558.1 million, a decrease of 20.8% from the fourth quarter of 2014.
- Gross margin was 18.0%, compared with 15.7% in the fourth quarter of 2014.
- Operating income was $29.2 million, a decrease of 4.4% from the fourth quarter of 2014.
- Net income was $15.7 million, an increase of 12.7% from the fourth quarter of 2014.
- Earnings per fully diluted American Depositary Share ("ADS" and each ADS represents 50 of the Company's ordinary shares) were $0.16, compared with $0.13 in the fourth quarter of 2014.
