Hanwha Q Cells decreased revenue and income year-over-year
Post date: 13/08/2017 - 10:59
South Korean PV manufacturer Hanwha Q Cells Co., Ltd. achieved total net revenues of $577.7 million in Q2 2017, up 33.7 percent from $432.0 million in the first quarter of 2017 and down 9.5 percent from $638.0 million in the second quarter of 2016. Net income attributable to the company's ordinary shareholders was $18.7 million in the second quarter of 2017, compared with net income of $17.6 million in the first quarter of 2017 and net income of $76.8 million in the second quarter of 2016.
As of June 30, 2017, the company's in-house annualized production capacities were 1,550 MW for ingot, 1,000 MW for wafer, 4,200 MW for cell and 4,200 MW for module. Furthermore, Hanwha has additional module availability of up to 2,100 MW (annualized) from its affiliate Hanwha Q Cells Korea Corporation, which is currently ramping-up its capacity to approximately 2,200 MW in the second half of 2017.
For the third quarter of 2017, the company estimates net revenues in the range of $540 to $560 million. For the full year 2017, Hanwha reiterates its previous guidance of total module shipments in the range of 5,500 to 5,700 MW and revenue-recognized module shipments in the range of 5,300 to 5,500 MW. According to Seong-woo Nam, Chairman and CEO of Hanwha Q Cells, the company is expected to »launch 72-cell mono-PERC modules, with output up to 365 W, in the second half of the year.«
By the end of this year, Hanwha expect annual nameplate capacities to reach 1,600 MW for ingot, 1,100 MW for wafer, 4,600 MW for cell and 4,600 MW for module mainly from conversion efficiency improvements and de-bottlenecking the production operations.