Lower prices, currency effects hurt Yingli in Q2 2015
Solar farm using Yingli panels. Author: greenXmoney. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
Chinese photovoltaics (PV) maker Yingli Green Energy Holding Co Ltd (NYSE:YGE) said Friday its second-quarter 2015 net revenues have been impacted negatively by lower average selling prices (ASP) for PV modules and other factors.
Based on preliminary statistics, the company’s April-June performance had also been affected by higher manufacturing costs resulting from a lower-than-expected utilisation rate of its production capacity; an increase in shipments to the Chinese market where prices are lower; and the depreciation of the euro and the Japanese yen against the yuan. As a result, Yingli Green expects an overall gross margin of between 6% and 7% for the period under review. Gross margin for PV module sales alone is seen to be between 7%-8%.
Unaudited data shows the firm has sold between 720 MW and 730 MW of modules in the second quarter of the current year, which is in line with its 720 MW-750 MW forecast for the period. Upon the publication of its unaudited financial statement for April-June on September 8, Yingli Green will unveil a new full-year shipments guidance.
The company's revised solar module sales guidance for 2015 currently stands at 3.6 GW.