TSL Q2 2014 Shipments

Trina Solar (TSL) reported a good set of Q2 2014 results, with gross margin at 15.4%. The company’s revenues increased from $ 444.8 million in Q1 2014 to $ 519.4 million in Q 2 2014. However, the shipments soared by 69% in Q2 2014 to 943.3 MW in Q2 2014. Lets take a look at the main reason for such a hike in TSL’s shipments.

From the pie charts above, it can be seen that the shipments to China have increased by ~20% in Q2 2014 and those to US have gone up by 6%. Also the shipments for the company’s downstream PV projects have gone up from just 24 MW in Q1 2014 to 148.7 MW in Q2 2014.

Mr. Jifan Gao, Chairman and Chief Executive Officer of Trina Solar, commented – In our module business, demand from both the China and overseas markets has picked up dramatically. Notably, we continue to see robust demand for our products from our many valued long-term customers in the U.S., thanks to Trina Solar’s established market position and superior product offerings. Following a relatively weak first quarter in China, we saw strong growth in demand for Trina Solar’s products in the second quarter.

Trina Solar Press Release

The company also saw increased activities in its downstream solar project business. In Q1 2014 only 24 MW were shipped for downstream business in UK, whereas in Q2 2014 ~148.7 MW were shipped to UK and China. The company is focusing on the well-established UK market and believes that investment in UK will definitely pay off. In August, Trina Solar acquired a 49.9 MW project in the United Kingdom.

Trina Solar believes it will continue to maintain a strong presence in the US markets even after the imposition of anti-dumping and countervailing duty, because of its quality, costs and long term relationship with the country.

Trina Solar bangs on with a 69% increase in its Q2 Shipments

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