Trina Solar PV module shipments decreased by 5.3 percent in Q1 2013; operating loss reduced

Trina Solar CEO Jifan Gao: „we continue to focus on improving operational efficiency and exercising financial discipline”
Trina Solar CEO Jifan Gao: „we continue to focus on improving operational efficiency and exercising financial discipline”

Trina Solar Limited (Changzhou, China) on May 29th, 2013 announced its financial results for the first quarter of 2013. Solar photovoltaic (PV) module shipments were approximately 393 MW during the quarter, representing a sequential decrease of 5.3% from the fourth quarter of 2012.

Net revenues were USD 260.2 million, a decrease of 14.0% from the fourth quarter of 2012. The company reduced its operating loss to USD 40.1 million, compared to USD 70.4 million in the fourth quarter of 2012.

 

ASP of modules declined slower than in previous quarters

"While the average selling price ("ASP") of modules continued to decline in the first quarter due to the lingering supply-demand imbalance in the global PV industry, the rate of decline has slowed from previous quarters," said Mr. Jifan Gao, chairman and CEO ofTrina Solar.

 

Cost reductions outweighed the fall in ASP

"In this environment, we continue to focus on improving operational efficiency and exercising financial discipline. In the first quarter, the reductions in non-silicon costs we achieved outweighed the fall in ASP, and we also collected a sizeable amount of overdue accounts receivables. These efforts enable us to maintain strong liquidity and a robust balance sheet, making us better positioned to capture future growth opportunities.

“In terms of revenues, we achieved strong sequential shipment growth in Japan and India, two of the most important emerging markets for the PV industry”, Gao added.

 

Construction started on a 50 MW solar project in Gansu province

At the beginning of the year, Trina Solar had been awarded the right to develop a 50 MW solar project in Gansu province, China. “We began construction on the project during the end of the first quarter and expect to connect the project to the power grid and begin limited production by the end of the third quarter of 2013,” says Trina Solar’s CEO.

 

 

 

2013-05-29 | Courtesy: Trina Solar | solarserver.com © Heindl Server GmbH

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