Things are looking up for Motech. After a difficult year for all Taiwanese PV makers following the imposition of U.S. tariffs on cells from Taiwan as well as Chinese solar products in mid-2014, the company has returned to profitability.
Motech managed to squeeze out a 1.9% operating margin during the quarter, its first positive result since the second quarter of 2014. Additionally, the company’s revenue of US$215 million is the highest quarterly result since late 2011.
In a presentation of quarterly results Motech did not comment on what led to this turnaround, however the company reported shipments of 737 MW. As Motech reached 2 GW of annual capacity during the Q2 2015, this indicates that it shipped well above its production during the third quarter.
Motech’s gross and net margins have both been rising for the last two quarters. The company’s acquisition of Topcell earlier this year made it the world’s largest cell maker, and Motech plans to put 600 MW of PV module capacity online in China in 2016 through a joint venture with Solargiga.
Motech will hold 19% of JV Jinzhou Yangguang Motech Renewable Energy, which will also focus on design, construction and engineering of PV plants. This will give the cell maker a foothold downstream as well, following the lead of fellow Taiwanese cell maker Neo Solar Power, which has moved aggressively into project development.