China Sunergy revenue down by 4.3% in second quarter 2015

china-sunergy-logo

China Sunergy reported total revenue of US$87.5 million for the second quarter ended June 30, 2015, a decrease of 4.3 percent from US$91.5 million in the first quarter of 2015.

The company shipped 184.5MW, a decrease of 3.8 percent (7.4MW) from 191.9MW in the first quarter of 2015 while the average selling price (ASP) for the company’s modules, excluding those processed under OEM arrangements, was US$0.58per watt, unchanged from the previous quarter.

The revenue for self-branded products totaled US$86.6 million and the revenue for the products processed under the OEM arrangement was US$0.9 million.

Gross profit was US$6.1 million and gross margin was 6.9 percent, compared with gross profit of US$10.3 million on gross margin of 11.3 percent in the first quarter of 2015.

Sales revenue derived from Asian market accounted for 39.3 percent of total revenue in the second quarter of 2015 as a result of lower shipments to China, Japan and India markets.

Revenue generated from American market dramatically increased and accounted for 34.4 percent of total revenue while sales to European market represented 25.2 percent of total revenue in the quarter ended June 30, 2015.

Loss from operations was US$7.8 million in the second quarter of 2015, compared with income from operations of US$5.5 million in the first quarter of 2015.

Rajani Baburajan

editor@greentechlead.com