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Trina Solar Announces Q4, Full-year 2015 Results: Another Quarter Of Record Shipments, Sequential Increase In Earnings

Shenzhen Shine Solar Co.,Ltd | Updated: Mar 07, 2016

Trina Solar Limited (Changzhou, China) on March 3rd, 2016 announced its unaudited financial results for the fourth quarter and full year of 2015.

Trina Solar shipped PV modules totaling 1,776.3 MW in Q4, 2015, consisting of 1,579.7 MW of external shipments and 196.6 MW of shipments to the Company's own downstream solar power projects. This compares with total shipments of 1,703.2 MW, consisting of 1,353.2 MW of external shipments and 350.0 MW of shipments to the Company's own downstream power projects in the third quarter of 2015.

Q4, 2015 net revenues were USD 961.9 million, an increase of 21.4% from the third quarter of 2015 and 36.4% from the fourth quarter of 2014. Gross profit was USD 183.3 million, an increase of 32.7% from the third quarter of 2015 and 65.1% from the fourth quarter of 2014.

Gross margin was 19.1%, compared with 17.4% in the third quarter of 2015 and 15.7% in the fourth quarter of 2014.

“We are pleased to report another quarter of record shipments and a sequential increase in earnings. Our module shipments during the quarter hit an all-time high of 1.78 GW, which once again exceeded the high-end of our guidance,” commented Jifan Gao, Chairman and CEO of Trina Solar.


Full Year 2015 PV module shipments increased by 56.8%

Trina Solars’s full-year 2015 PV module shipments were approximately 5.74 GW, an increase of 56.8% from 3.66 GW in 2014. Total net revenues were USD 3.0 billion, an increase of 32.8% from 2014.

Gross profit was USD 566.6 million, an increase of 47.0% from 2014. Gross margin was 18.7%, compared with 16.9% in 2014.

“We continue to maintain our position as the world's largest solar module manufacturer and a leading solar project developer and operator,” said Jifan Gao.

“For the full year of 2015, we connected a total of 685.9 MW of PV power projects to the grid around the world, of which about one third were DG projects in China.”


Fiscal year 2016 Guidance expects total PV module shipments between 6.30 GW and 6.55 GW

In Q1, 2016 Trina Solar expects to ship between 1.37 GW to 1.45 GW of PV modules, all of which will be shipped to third-party customers.

The Company expects 2016 total PV module shipments between 6.30 GW and 6.55 GW, of which 450 MW to 550 MW will be shipped to the Company's downstream projects, revenues of which will not be recognized.

The Company expects to connect to the grid between 750 MW and 850 MW of downstream PV power projects across the world, including 10% to 15% of DG projects in China.

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