Integrated PV module manufacturer SolarWorld has reported preliminary first quarter 2016 sales of €212.6 million on product shipments of 341MW.
SolarWorld’s sales in the first quarter of 2016 were down from €231 million in the previous quarter but up significantly from €149.1 million in prior year quarter.
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Sales were almost identical to those reported in the third quarter of 2015, while shipments were lower, indicating declining ASPs.
Shipments in the quarter, which include modules and system installation kits, were down from 404MW in the previous quarter but up significantly from 202MW in the prior year period.
Shipments were said to have been strong in the US, Germany and Europe.
SolarWorld reported first quarter 2016 EBITDA of €2.1 million, compared to €2.9 million in the prior year period.
The company noted that its order backlog stood at over 540MW at the beginning of the second quarter of 2016, while orders totalled over 880MW in early April.
Guidance
As a result of a strong order backlog, SolarWorld said it expected total shipments in 2016 to exceed 1,390MW, or more than 20% over shipments of 1,159MW in 2015.
Sales are expected to increase by over 20% with a target of achieving €1.0 billion in sales in 2016. A positive EBIT in the lower double-digit million range, was also guided.
