Buoyant Trina Solar back in profit
Trina Solar joined the small but growing band of Chinese PV manufacturers with a profit to their name in the third quarter of 2013, and boosted its full-year shipment guidance.
Trina posted a net profit of $9.9m for the July-September period, wiping out a loss of $33.7m in the second quarter.
It shipped 775MW in the third quarter, up from 647MW in the prior three months and well ahead of the 380MW of shipments achieved at the same stage in 2012.
The company now expects to ship between 2.58GW and 2.62GW of modules this year, up from its previous forecast of 2.3GW-2.4GW.
Trina boosted its gross profit margin to 15.2%, compared to 11.6% in the second quarter.
The profitable Q3 puts Trina in the same company as fellow Chinese players JinkoSolar – which recorded its second successive quarter in the black yesterday –and Canadian Solar.
Like its peers, Trina said surging demand in China itself, North America and Japan had helped its performance. Trina also named the UK, where it has enjoyed success.
Trina CEO Jifan Gao said:“I am pleased to report that we have returned to profitability and delivered a better-than-expected performance across a number of key operating metrics. Our third quarter module shipments exceeded the high end of our expectations by almost 100MW, driven by strong demand across most of our key markets.
"While average selling prices and polysilicon costs continue to stabilise in the third quarter, consolidation in the solar industry will also continue as it aligns more closely with supply.”