China-based solar module maker Hanwha SolarOne saw first-quarter 2013 consolidated revenues show a 33.3% sequential growth to CNY1.1129 billion (US$181 million). First-quarter 2013 revenues also showed an on-year increase of 38.4% compared to CNY803.9 million in first-quarter 2012.
The firm saw total shipments reach 289.1MW in the first quarter, representing an on-quarter increase of 45.3%. Solar module sales in Japan accounted for 33% while sales in South Africa accounted for 21% in the first quarter, said Hanwha SolarOne.
Gross margin was 2.61% in the first quarter, showing an improvement from negative 31.30% reported in the fourth quarter of 2012, according to the firm.
First-quarter 2013 net loss was CNY202.9 million, compared to a net loss of CNY650.6 million in the fourth quarter of 2012 and net loss of CNY269.9 million in the first quarter of 2012.
As of March 31, 2013, the firm has production capacities of 800MW for ingots and wafers, 1.3GW for cells and 1.5GW for modules. The firm currently has no near-term plans to expand capacity.
Hanwha SolarOne expects solar module shipments to be in the range of 330-350MW in the second quarter of 2013 and 1.3-1.5GW for full year 2013.
The firm added that 2013 capex will be US$50 million depending on demand and market conditions.
