Boston, MA 08/28/2014 (wallstreetpr) – A vertically integrated photovoltaic product maker, Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) said that it would continue to focus on cutting down its costs and improve its operating efficiency.
Chairman Comments
The company’s Chairman and Chief Executive Officer, Lliansheng Miao, said that its focus was on returning to net profitability through the optimization of its geographical footprints and improved operating efficiency involving reduction in manufacturing expenses.
Commenting on the second quarter performance, the Chairman said that it could see higher demand for its modules from its key markets like Japan, China, and United Kingdom apart from new emerging markets. He added that the new emerging markets witnessed 18% quarter-over-quarter uptick in shipments and customer base had doubled from the year-ago second quarter. The CEO had also disclosed that its Japan team had exceeded the full year shipments of 2013 in the first half of the current fiscal year itself.
Miao stated that though the demand growth in the domestic circuit had slowed down in the first half of the current fiscal year than it had anticipated, the company could still see a big potential for its distributed generation PV projects during the second half of the current fiscal year.
Outlook
Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) said that it had revised its PV module shipment expectations to 3.6GW – 3.8GW for the fiscal year 2014. This includes 400 – 600MW shipment of PV systems and represented 11.3% – 17.5% growth over the last year period.
2Q Results
Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) reported a net loss of $46.0 million or a loss of 26 cents a share for the second quarter. On an adjusted basis too, it would have suffered a net loss of $44.3 million or a loss of 25 cents a share in the latest year second quarter.
Its total net revenues amounted to $549.5 million during the second quarter. Its overall gross margin improved to 15.6% from 11.8% in the year-ago quarter but slacked ten basis points from 15.7% in the first quarter as the PV module sales gross margin slipped to 16.2% from 16.8% in the first quarter.
