L R AS Published on Sunday 29 March 2020 - n° 315 - Categories:company results
Canadian Solar in 2019: strong sales growth
Sales amounted to $3.2 billion, down 17%. However, the company delivered 8.6 GW in 2019, i.e. 30% more panels in 2018. 74% of these are made up of panels
multicrystalline and 26% monocrystalline. They were sold mainly in Brazil, the United States, Australia, Japan and China. The company relies on improved multicrystalline, which reduces its production costs and enables it to achieve one of the highest profit margins in the industry. It has even achieved a cell conversion rate of 23.8% with a large surface area N-type multicrystalline cell.
Net profit came to $172 million (-28%).
Canadian Solar's pipeline was 15.4 GW as of January 31, 2020. This amount breaks down into order backlog (3.7 GW) and projects (11.6 GW). The vast majority of these projects are in the Americas, with a slight increase in the north.
In 2020, Canadian Solar will increase its production capacity for ingots to 2.3 GW (+27%), cells to 10.1 GW (+5%), and panels to 16 GW (+23%).
For 2020, panel shipments are expected to reach 10 GW to 12 GW (+16% to +40%), with a turnover of $3.4 to $3.9 billion (+6 to +25%).
PV Magazine of 27 March
