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Category: Investment, Solar
Solar News - New YMR PV Report Shows Revenues Rebound but Margins Fall in Q2'09, Chinese Players Set to Take Share in Q3'09
AUSTIN, Texas - September 29, 2009 - Young Market Research (YMR) has released the first issue of its Weekly PV Supply Chain Health Report. This unique report provides its users with all the data and insights released by publicly traded PV supply chain companies in their quarterly earnings reports, stock exchange filings, press releases and earnings calls along with unbiased analysis within 24 hours of their earnings announcements with data back to Q1'07. The financial and industry data, covering over 100 different metrics, is incorporated into a pivot table which makes comparisons by company, country, technology, level of integration, etc. extremely easy. The results are also aggregated to provide weighted averages. Analysis is provided in a PowerPoint file which can easily be incorporated into internal presentations. The first issue, covering Q1'07 – Q2'09 results and guidance for Q3'09 and beyond, amounted to over 330 slides covering 25 different companies.
Highlights from the first issue include:
- Revenues Rebound: After falling 44% from Q3'08 to Q1'09, revenues rebounded 18% Q/Q in Q2'09 to $4.65B. However, the gains were not shared equally by all segments, regions or companies. The cell/module suppliers are growing faster than the polysilicon/wafer suppliers, 18% to 5% Q/Q in Q2'09, as polysilicon prices fall faster than cell/module prices and cell/module shipments outpace polysilicon/wafer shipments on significant inventory at cell/module suppliers.
- Margins Continued to Decline: Profit margins continued to worsen on lower prices and the fact that slower than expected demand made it difficult for manufacturers to sell-through their high-priced polysilicon/wafer inventory. Some companies were not able to take advantage of the rapid decline in polysilicon spot prices as they were struck in long-term, fixed price contracts or reduced shipment volumes prevented them from turning over their expensive polysilicon or wafers. Cell/module manufacturers again outperformed polysilicon/wafer suppliers, with gross margins of 19% vs. 8%, due to large inventory write downs at wafer manufacturers.
Six other highlights and impactful charts and tables and the rest of the release can be found at http://www.youngmarketresearch.com/press_details.cfm?id=12.
About YMR
YMR was formed by Ross and Barry Young. The Youngs created and managed DisplaySearch and the OLED Association and have over 50-years of industry experience in flat panel displays, semiconductors, solar, lighting, computers, banking and consulting. For more information, visit http://www.youngmarketresearch.com.
Contacts:
Young Market Research
Ross Young, 512-514-1226 (TEL/FAX)
ross@youngmarketresearch.com
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