L R AS Published on Tuesday 12 April 2022 - n° 401 - Categories:company results
Array Technologies in 2021: a difficult year
US tracker manufacturer Array Technologies has reported a 2% fall in sales in 2021, to $853m. It has been hit by
delivery delays due to tensions in the supply chain and logistics, as well as delays in solar projects. The company had to take delivery by plane. As a result, the gross margin has fallen from 23.2% to 9.7% in 2022. EBITDA stands at $43 million (down 73% on 2020).
Last year, Array's traditional activities more than doubled. Orders placed reached US$1.4 billion. Combined with orders from STI Norland, the recently acquired Spanish tracker manufacturer, the group's order book stands at over $1.8 billion, an increase of 163% on the previous year. A quarter of the orders filled are outside the United States.
For 2022, management is forecasting sales of between $1.45 and $1.75 billion and adjusted EBITDA of between $170 and $210 million.
https://www.pv-tech.org/array-technologies-revenues-dented-by-supply-chain-woes-project-delays/
PV Tech of 7 April 2022
