Hanwha Q CELLS Achieves Positive Q1 Results
and is the Largest European Photovoltaics Provider
  • - Shipments of 247 MW and module production volume of 244 MW put Hanwha Q CELLS in the lead among European PV providers
  • - Strengthened international sales network and production capacity increase
  • - Positive outlook for 2014: Shipments between 1 and 1.2 GW and positive full year figures expected

[Thalheim, Germany, 14 May, 2014] Hanwha Q CELLS today announced that it has reached positive operating results in the first quarter of 2014 and is now the largest European PV provider. The German-headquartered PV solutions specialist achieved growing revenues and positive earnings before interests and tax (EBIT) in the first three months of 2014. Moreover Hanwha Q CELLS has taken the lead among European PV companies with total shipments of 247 MW and a module production volume of 244 MW in Q1 2014. With these results Hanwha Q CELLS underlines its statement to reach positive full year figures in 2014. CEO Charles Kim said: “Hanwha Q CELLS has successfully managed the turnaround and today is the largest European Photovoltaics provider. Going forward we aim to extend this position on the basis of further growth within this year and the years to come.”

Positive business outlook: Strong demand and further increase in production capacity

“We´ve been seeing continuously growing demand for our premium quality PV products and solutions “Engineered in Germany””, explained CEO Charles Kim. “Our international cell and module production lines including manufacturing in the EU and Asia are running at full capacity. Moreover we are currently increasing our production capacity to a total of 1.3 GW.” The increase in capacity will be achieved by adding one additional production line for solar cells in the company´s plant in Malaysia and adjusting module capacities accordingly.

Growing shipments and market shares in all focus markets of Hanwha Q CELLS are clear proof of the positive development and business outlook of the company. The premium PV solutions provider has managed to gain further market share in its European home-markets and in its single largest market, Japan. In Europe the United Kingdom is an especially important market for the company followed by France and Germany. At the same time Hanwha Q CELLS Japan has reached the position as the No. 1 foreign PV provider in Japan, as confirmed in the March edition of the leading Japanese PV magazine “Solvisto”. Moreover, Hanwha Q CELLS has been expanding its power plant solutions business. On the basis of the company´s track record of around 700 MW of installed capacity in large scale power plants Hanwha Q CELLS has realized projects in the Europe, the Americas and Asia. CEO Charles Kim emphasizes: “We have successfully strengthened our market position as THE financially stable partner for premium quality PV products and solutions “Engineered in Germany”. We are therefore very confident we will reach shipments of between 1 and 1.2 GW and positive full year figures in 2014.”

Strengthened teams and sales network

During the company´s first full year, 2013, Hanwha Q CELLS has strengthened teams at its headquarters in Germany as well as at its mass production site in Malaysia and increased its international sales force in order to satisfy the growing global demand. In 2014 the PV specialist has opened new offices in France as well as in the emerging markets Turkey and Chile. Thus Hanwha Q CELLS has increased its global headcount from 1,225 employees at the launch of the company in October 2012 to around 1,350 employees at present. CEO Charles Kim said: “We have an outstanding team of professionals in all regions of the world. Hanwha Q CELLS is well prepared to achieve further growth and contribute to our overall goal of making solar the most reliable source of energy on earth.”

For more information:

Hanwha Q CELLS GmbH
Sonnenallee 17-21
06766 Bitterfeld-Wolfen (OT Thalheim), Germany

Corporate Communications
Jochen Endle, Robert Reinsch
Tel: +49 (0)3494 6699 10121
Email: presse@q-cells.com

Executive Board
Hee Cheul Kim (CEO), Kye Chun Son (CFO),
Dr. Andreas v. Zitzewitz (COO), Koo Yung Lee (CCO)

Hanwha Q CELLS

Hanwha Q CELLS is a total solar power solution provider with the world’s largest cell production capacity. Our business scope ranges from the midstream of ingots, to wafers, cells, and modules, to downstream solar solutions for residential, commercial buildings, and solar power plants. Our full spectrum of products creates synergy with Hanwha Chemical’s polysilicon business. This completes the total vertical integration of Hanwha’s solar businesses.

For more information, visit: investors.hanwha-qcells.com

Hanwha Group

Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea
and a “FORTUNE Global 500” company. Hanwha Group has 56 domestic affiliates and 226 global networks in three major sectors: manufacturing and construction, finance, and services and leisure.
With more than 60 years track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from chemicals & materials, aerospace & mechatronics, total solar energy solutions, and global construction. The finance network, covering insurance, asset management and securities, is the second largest non-bank financial group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses.

For more information, visit: www.hanwha.com

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