L R AS Published on Thursday 22 August 2019 - n° 286 - Categories:company results
Canadian Solar in the 2nd quarter: strong increase in turnover
Canadian Solar, in the second quarter, achieved sales of $1,036 million (compared to $485 million in the first quarter). Gross margin was $183 million (17.6% of sales) compared to $107 million in the first quarter. Panel shipments were
2,143 MW against 1,575 MW in thefirst quarter. 65 MW were allocated to own projects.
The company completed the sale of 228 MWp of power plants during the period. Operating facilities reached 796 MWp for a market value of $1 billion.
Panel capacity will be increased by 1 GW in 2019 to 12.2 GWp. Delivery forecasts for 2019 are raised from 7.4-7.8 GW to 8.4-8.5 GW. As announced, cell production capacity will be increased by 3 GW in 2019 to 9.3 GW.
Panel shipments in the third quarter are expected to be between 2.2 and 2.3 GW, of which 160 MW will be for own-built plants. Revenues would be between $780 and $810 million, to which would be added the sale of power plants and the construction of new plants.
PV Tech of 15 August
Editor's note The sale of solar power plants disturbs the perception of the company's evolution, as it increases the turnover and especially the gross margin. Consequently, there is no comparison possible between quarters or between different financial years.
On the other hand, the company has found a significant source of profit in the construction and sale of power plants that is much higher than that of its core business, the assembly of panels.
