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.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.