Trina Solar net revenue increases nearly 70% Q-o-Q in 2Q 2013

By Editor


Greentech Lead China: Trina Solar reported $440.7 million in revenue in the second quarter of 2013, representing an increase of 69.4 percent from the first quarter of 2013.

Solar module shipments were approximately 647 MW during the second quarter of 2013, representing a sequential increase of 64.6 percent from the first quarter of 2013.  The sequential increase in shipments was caused primarily by robust global demand, which, together with the stabilizing ASP, led to an increase in revenues.

Trina solarGross profit was $51.2 million, compared to $4.4 million in the first quarter of 2013. Gross margin was 11.6 percent, compared to 1.7 percent in the first quarter of 2013.

Net loss was $33.7 million, compared to a net loss of $63.7 million in the first quarter of 2013

“I am pleased to announce that we achieved record quarterly shipment numbers in the second quarter of 2013, exceeding our original guidance by more than 100 MW,” said Jifan Gao, chairman and CEO of Trina Solar. “With robust global demand, we took full advantage of our global sales network and strong brand to seize available commercial opportunities.”

In terms of pricing, the average selling price (ASP) of modules has stabilized, reversing the falling trend seen in previous quarters. As a result of our on-going efforts to improve operational efficiency and control manufacturing costs, we achieved continuing reductions in non-silicon costs, which contributed to quarter-on-quarter margin improvement.

While there was regulatory uncertainty surrounding the E.U.’s anti-dumping case against PV imports from China, geographic diversification of revenue helped to mitigate such regulatory risks. The company achieved significant increase in shipment from markets like China, the U.S., India and Japan, in addition to the stable shipments to Europe.

Further, in terms of project development, the company made good progress on the 50 MW power plant project in Wuwei, Gansu Province, China, in the second quarter. Construction of the project is over, and the facility will be connected to grid by the end of the third quarter of 2013.

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