The Sunergy expected this year module shipments increased by more than 50%

Sunergy (China Sunergy, NASDAQ: CSUN) of PV modules this year, Europe will continue to become the company's largest single market, the European Commission before the end of the anti-dumping investigation, a large number of other component manufacturers selectively withdraw from the European Union countries. Sunergy European attention and determination in Turkey to set up a joint venture solar cell and module assembly plant. Management on a conference call to discuss fourth quarter 2012 financial results that it expects 2013 module shipments of 550MW to 600MW, of which Europe accounted for 60%.

The management said the factory in Turkey to act as a buffer against the United States last year imposed anti-dumping ruling on Chinese-made solar cells, and may impose fines will be announced in early June 2013. Obviously, the plant can be used as a buffer to resist mandatory fine of future elsewhere in the world. The company reiterated its first 120MW components in assembly line will be put into operation in January 2013, while its first solar controller production line (100MW) is expected to be put into use in May 2013. Sunergy will become the first in Europe to establish a solar cell and module assembly line manufacturers.

However, Yuhui Solar report will be third-party manufacturers outsource up to 400MW of components to meet customer demand in Europe. Sunergy also plans to further expand the production of components in Turkey. The management said that July will be set up in the factory, the other a 180MW module production line, so that the components rated output at close to 400MW, to become Europe's largest manufacturers. The most notable is that Sunergy will the European factories as a springboard to support the the downstream photovoltaic project business in Turkey and its partners and other European countries.

Capital expenditure required to build a huge role in the European PV market is surprisingly low. The management said in a conference call, total capital expenditure of only $ 44.3 million in 2012, mainly assigned to its highly efficient the QSAR solar panels cost R & D China construction of the new R & D facilities, rather than the Turkish factory. Management said they meet any possible anti-dumping regulations, compared to its imports from Taiwan solar cell module production, solar cell production in Turkey.

Although until full production is expected to complete cost accounting, but the overall cost of production compared with the equivalent cost will be slightly higher. Sunergy reports 2012 fourth-quarter revenues of $ 54.4 million, down 8.6% compared to the third quarter of 2012 (Click to view PV-Tech previously reported). The company said this was mainly due to the quarter year-on-year lower shipments and lower average selling prices. Management noted that the fourth quarter average selling price fell to $ 0.64 per watt, $ 0.71 from the previous quarter fell nearly 10%.

The fourth quarter of total shipments for 78.4MW Germany shipments accounted for the dominant, accounting for 29% of total revenue in the quarter. Italy is the second largest market in the fourth quarter, 12.3% of the total revenue, followed by France (11.2%). China Sunergy to expand its regional footprint, management pointed out that the United Kingdom and Japan's share of income in the current quarter increase in the share. The company reported fourth-quarter loss of $ 2 million, the gross profit margin was a negative 3.7%, gross profit margin was 0.7% in the third quarter of 2012.

Sunergy report, total revenue in 2012 fell sharply, a decline of 48.3%, to $ 566.3 million in 2011, fell to only $ 292.7 million in 2012. The company reported total shipments of 391MW, down 7.0% over the previous year 420.3MW. Module shipments of 379MW, 2012 accounted for 96.9% of the total shipments.

Following this year in the United States after the Chinese PV manufacturers, Sunergy report, a total loss of 2012 and a net loss. The total loss was $ 1.2 million, and the gross profit margin was a negative 0.4%. The company reported a net loss of $ 133.6 million, net profit margin was negative 45.6%.