Chinese photovoltaic modules, solutions, and services company Trina Solar has announced its unaudited financial results for the second quarter of 2015.
The company has stated that the total module shipments from the manufacturing facilities of the company were 1,231.6 MW.
It comprised 1,000.7 MW of external shipments and 230.9 MW of shipments to the company’s own downstream photovoltaic power projects.
The shipments have shown a 20 percent increase sequentially and a 30.6 percent rise year-on-year. This compares to the company’s guidance of 1,100 MW to 1,140 MW of total module shipments.
The company has reported that it has connected a total of 121.3 MW of photovoltaic power projects to the grid in the Q2, 2015. The guidance for the quarter had been 65 MW to 70 MW.
Also, Trina Solar has recorded net revenue of $722.9 million, which is a 29.5 percent increase from Q1, 2015 and 39.2 percent up from the second quarter of 2014.
According to the company, the gross margin was 20 percent, compared with 18 percent in the first quarter of 2015 and 15.4 percent in the second quarter of 2014.
Jifan Gao, Chairman and CEO of Trina Solar, says: “We achieved our second straight quarter of record results and our strongest quarter ever for both upstream and downstream in almost all financial and operating metrics.
“We not only beat the high end of our guidance with record module shipments of 1.23 GW and project connections of 121.3 MW, we also experienced strong top-line and bottom-line growth and improved fundamentals while focusing on profitable growth.
“We achieved this result with a combination of cost reductions through continued improvements in supply chain management, technological development, and strategic deployment of our resources in promising and fast-growing markets.”
Jifan said the company expected a “historically strong year” in the global solar market. China is poised to generate even greater demand as the Chinese government made renewable energy a top priority and is strongly committed to achieving its 2015 grid connection target.
“We are confident that we will meet our revised full year module shipment guidance of 4.9 GW to 5.1 GW, which will be over 10 percent greater than our previous forecast of 4.4 GW to 4.6 GW,” Jifan said.
Ajith Kumar S