Press Release Clean Energy & Ocean Solutions

Hanwha Q CELLS Achieves Positive Q1 Results and is the Largest European Photovoltaics Provider

May 14, 2014
  • 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

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

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

Hanwha Qcells

Hanwha Qcells (Hanwha Solutions Qcells division) is one of the world’s leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells, and modules, a portfolio of intelligent storage systems, and a growing international pipeline of large-scale renewable energy projects. Hanwha Qcells also provides renewable electricity retail services and packages to end customers the world over. The company is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, China, and South Korea. Hanwha Qcells strives to offer Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting, and large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa, and the Middle East, Hanwha Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental, and residential markets.

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Hanwha Group

Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a balanced business portfolio that includes energy & materials, aerospace, finance and retail & services. Our expertise and synergy in key areas have catapulted us into the seventh-largest business in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we strive to pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone.

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