Solar Frontier in first year of profits

Solar Frontier chalked up its first full-year of profitability in 2013, with owner Showa Shell Sekiyu claiming the company will keep returning to the same well, with Japan to remain the centre of focus for the time being.

Showa Shell’s “Energy Solutions” unit – of which thin-film giant Solar Frontier forms the major part – remains but a small part of its overall business, with its oil-related activities still accounting for nearly 95% of Showa Shell’s overall revenues of ¥2.95tr ($28.9bn) last year.

However, Energy Solutions is growing far more rapidly than the company’s legacy oil-refining business, with revenues surging 80.4% last year to ¥141.2bn, principally on strong sales at Solar Frontier.

Critically, the Energy Solutions unit reported a net income of ¥17.5bn, compared to a net loss of ¥15.4bn in 2012.

While Showa Shell – which Log in to read complete article.

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