As a topsy-turvy year for the German company begins its final stretch, the management board of SolarWorld announced that the company will not fulfil its financial predictions for 2016. And as a well known proponent of the EUs trade measures against Chinese PV manufacturers, the company is already pointing the finger at Chinese companies for causing price drops in the industry.
Within the announcement, SolarWorld was proud to proclaim that it will achieve its shipment forecast for the year, which is 20% higher than in 2015. However, that is where the good news stops, as it said despite the increase in shipments, it is now unlikely to meet its revenue and EBIT forecasts.
Getting straight on the defensive, SolarWorld immediately looked at Chinese companies that it considers to be dumping its products. Domestic demand for installations in China collapsed due to the reduction of feed-in tariffs in Q3 2016. In return, Chinese manufacturers have offered their inventories at dumped prices on the global market, which has resulted in a global price decline.