Taiwan’s GET swings to USD-11.4m profit in Q1 2016

Taiwanese wafer manufacturer Green Energy Technology Inc (TPE:3519), or GET, has returned to a TWD-372-million (USD 11.4m/EUR 10m) net profit in the first quarter (Q1) of 2016 from a loss of TWD 415 million a year back.

GET is the solar arm of Taiwanese electrical and electronic products maker Tatung Group. In October-December (Q4) 2015, the company’s bottom line result was negative at TWD 41 million.

The firm’s financial statement shows that gross margin for January-March this year had improved to 10.3%. This compares to a 6.6% negative and a 7.6% positive gross margin in Q1 2015 and Q4 2015, respectively.

Net sales grew to TWD 5.27 billion from TWD 4.03 billion in annual terms. On a quarter-on-quarter basis, the figure went up from TWD 4.28 billion.

GET said that the solar industry is “structurally stable”, while high-end wafers continue to be in tight supply. This shortage will somewhat compensate all sector players which have been enjoying a significant growth in prices over the past several months for the relative stabilisation of average selling prices (ASP) for their products, according to the firm.

(TWD 10 = USD 0.308/EUR 0.270)

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