JA Solar announces Q3, 2014 results including increased shipments, operating profit; Full year shipments expected above 3 GW

JA Solar chairman and CEO Baofang Jin notes that the company’s strategic shift from solar cells to PV modules started to come to fruition
JA Solar chairman and CEO Baofang Jin notes that the company’s strategic shift from solar cells to PV modules started to come to fruition

JA Solar Holdings Co., Ltd. (Shanghai, China) on November 18th, 2014 announced its unaudited financial results for its third quarter ended September 30th, 2014.

The company shipped solar photovoltaic (PV) products totaling 785.4 megawatt (MW) in Q3, 2014, an increase of 57.0% compared to Q3, 2013, and 15.2% sequentially.

Shipments of PV modules and module tolling added up to 693.5 MW, +127.4% y/y and +55.6% sequentially. Shipments of solar cells and cell tolling were 91.9 MW, a decrease of 52.9% compared to Q3, 2013, and 61.1% sequentially.

Net revenue was RMB 3.0 billion (USD 492.2 million), an increase of 71.8% y/y and 24.7% sequentially Gross margin was 15.0%, an increase of 370 basis points compared to Q3, 2013, but a decrease of 20 basis points compared to Q2, 2014.

Operating profit was RMB 189.6 million (USD 30.9 million), compared to an operating loss of RMB 31.6 million (USD 5.2 million) in the third quarter of 2013, and an operating profit of RMB 89.7 million (USD 14.6 million) in the second quarter of 2014

Net income was RMB 155.4 million (USD 25.3 million), compared to a net loss of RMB 227.0 million (USD 37.0 million) in the third quarter of 2013, and a net income of RMB 40.1 million (USD 6.5 million) in the second quarter of 2014.

 

JA Solar chairman and CEO Baofang Jin: “Strategic shift from cells to modules started to come to fruition”

”JA Solar delivered strong results in the third quarter, as our strategic shift from cells to modules started to come to fruition. While we remain a leader in cell technology and cell manufacturing, higher margin module sales has become one of the key results drivers at JA. Module sales more than doubled year over year and were up 52% sequentially, mainly due to robust growth in sales to Japan and China,” comments Baofang Jin, chairman and CEO of JA Solar.

“In fact, our capacity is fully booked for the fourth quarter, resulting in some of the best visibility we have had in some time.”

 

2014 shipments expected to be in the range of 3.1 GW to 3.2 GW

For the fourth quarter of 2014, the Company expects total cell and module shipments to be in the range of 850 MW to 900 MW. This results in full year 2014 shipments expected to be in the range of 3.1 GW to 3.2 GW. The Company now expects to ship 160 MW of modules to its downstream projects, compared with the previously guided 200 MW.

 

2014-11-19 | Courtesy: JA Solar | solarserver.com © Heindl Server GmbH

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