Hanwha SolarOne has reported net revenues of RMB1,182.8 million (US$192.7 million), an increase of 6.3 percent from RMB1,112.9 million in 1Q13, and an increase of 10.4 percent from RMB1,071.7 million in 2Q12.
The increase in total net revenues in 2Q13 compared with 1Q13 was primarily due to higher shipments, lower costs and stable ASP, the company said.
Solar PV module shipments, including module processing services, were 321.2 MW, an increase from 289.1 MW in 1Q13, and an increase from 230.7 MW in 2Q12. Shipments of 321 MW were the highest quarterly level since Hanwha’s purchase of the predecessor company in September 2010.
Module shipments to Japan remained stable at 34 percent in 2Q13 at a good pricing level. Shipments to South Africa continued this quarter, representing 20 percent of revenues. The German market remained solid for the Company and made up 12 percent of total module shipments in 2Q13.The US (7 percent), China (4 percent) and the UK (3 percent) continued to be a mainstay of the Company’s dispersion of shipments.
Korea emerged as the notable new market for Hanwha SolarOne accounting for 5 percent of shipments in 2Q13.
As a result of Hanwha SolarOne’s strategy to minimize the risk from the EU trade disputes, the company is diversifying business to other countries. During this quarter, shipments to Europe declined to 26 percent of total shipments.
The Company shipped PV modules to 29 countries during 2Q13, further diversifying the geographic spread. Shipments to Europe and Africa (EA) contributed 46 percent to total module shipments, Asian Pacific (AP) accounted for 46 percent and North America (NA) 8 percent.
Ki-Joon HONG, chairman and CEO of Hanwha SolarOne, added, “Our presence in emerging markets such as Japan andSouth Africa remained strong. We also strengthened our liquidity position with a US$100 million long-term loan from the Export-Import Bank of Korea.”
Hanwha SolarOne sees improved volumes in the China market. With the EU and China having reached agreement on import duties, the company believes its market allocation and higher pricing will lead to good opportunity there. Additionally Hanwha SolarOne will improve its presence in other emerging markets including South America, the Middle East and Southeast Asia.