L R AS Published on Saturday 16 February 2019 - n° 264 - Categories:company results
Taiwanese TSEC reportedly on the road to recovery
The Taiwanese TSEC announces for 2018, sales of NT$3.8bn, a negative gross margin of 17%, an operating loss of NT$1.24bn and a net loss of NT$1.16bn, i.e. a negative net margin of 31%. 2018 was a year of transition.
The company has reoriented itself towards the production of cells, panels and the construction of PV power plants. The Taiwanese government's demand for power plants has led to a high demand for panels in Taiwan. TSEC has taken advantage of this since October 2018 and has used its production capacity to the full. Its order book is full until the second quarter of 2019. TSEC will increase its panel production capacity from the current 500 MWp to 900 MWp in the second half of 2019. The production of 250 MWp PERC polycrystalline cells will be converted to PERC monosilicon bringing the cell capacity to 900 MWp.
A capital increase will be made to finance these investments and to build a 60 MWp floating plant.
TSEC has sold 33% of its PV plant construction subsidiary to a foreign company to help it sell its panels abroad.
Digitimes of 13 February
Editor's note It seems that the most difficult period has passed on the production side. Nevertheless, the financial situation must be particularly tense after such losses and at a time when modernisation investments must be made. The possible recovery can be seen in the accounts for the first quarter.
