financial results

German inverter manufacturer SMA Solar Technology reported solid financial results for the first half of 2020 despite the Covid-19 crisis. Meyer Burger, however, saw sales and profits decline.

Tesla finished the first quarter of 2020 with a positive GAAP net income, driven by the profitability of the Model Y. However, the story was not so bright for solar, storage or corporate governance.

The Chinese manufacturer shipped 14.3 GW of PV modules last year, up 2.9 GW from 2018. In its 2020 outlook, it reiterated its initial shipment guidance and confirmed its plans to ramp up capacity.

With power production up 133% year-on-year, revenues and EBITDA also rose significantly.

Scatec Solar continued to grow in the first quarter of the year, with a global pipeline of 4 GW and more capacity under construction than in operation. The company expanded slightly less than it did in the preceding quarter, but EBITDA and revenue still grew threefold year on year.

The Norwegian renewable energy company cited rising prices, cost reduction plans and lucrative transactions as the main reason for its positive update. The average Nordic energy price in the quarter was €47.7/MWh, an increase of 56% from the same period a year earlier.

The Chinese manufacturer saw shipments increase 24.4% year-on-year, to around 3 GW of modules in the latest quarter, with overseas shipped products accounting for approximately 80% of sales. The outlook for full fiscal 2018 was maintained almost unchanged, while new positive changes from policy side in China are confirmed.

The Chinese-Canadian solar manufacturer shipped 1.59 GW of panels in the latest quarter. Despite a 15.8% turnover decline, operating result and net profit both grew significantly. Capacity expansion plans for 2019 are now said to be under review.

In the first three quarters of 2018, the Chinese solar manufacturer shipped approximately 1.75 GW of PV products – 3.5% more than it did in the same period of 2017. Revenue from the manufacturing business, however, fell by 12.6%, while total revenue drop was 11.1%.