GCL-Poly reports loss on falling polysilicon, solar wafer prices in 2012

GCL-Poly's polysilicon production in China
GCL-Poly's polysilicon production in China

GCL-Poly Energy Holdings Ltd. (Hong Kong, China) has released its 2012 financial results, reporting a 12% decline in revenue TO USD 2.87 billion, a -13% operating margin, and a net loss of USD 454 million.

The company reported a 1% operating margin on its Overseas Solar Power Plant business unit, but a -24% operating margin from its much larger Solar business unit, which includes the sale of polysilicon and silicon wafers.

This is a reversal from 2011, when the overseas power plant business brought in losses almost double its revenue, and the Solar business saw a 23% operating margin. The company has a third business unit which develops and builds a range of power plants and sells coal in China.

In 2011, GCL saw a profit of USD 711 million.

 

2013-03-20 | Courtesy: GCL-Poly | solarserver.com © Heindl Server GmbH

Our editorial selection of breaking solar news is published at:
www.solarserver.com/solar-magazine/solar-news/top-solar-news.html