Yingli cuts gross margin expectation for Q4 2013

Baoding, China - Yingli Green Energy Holding Company Limited announced its preliminary estimates of certain financial results for the quarter and full year ended December 31, 2013.

Based upon preliminary data, the Company now estimates its PV module shipment in the fourth quarter of 2013 increased by 11% to 12% from the third quarter of 2013, which is better than its previous guidance of a mid-to-high single digit percent increase. The Company also reiterates its PV modules shipment guidance of 3.2GW to 3.3GW for fiscal year 2013.

Additionally, the Company estimates its overall gross margin in the fourth quarter of 2013 to be in the range of 12% to 13%, compared with its previous guidance of 14% to 16%, primarily due to the year-end tax adjustment as a result of the implementation of the revised VAT exemption, offset, and refund policy, together with the disposal of low efficiency PV cell inventory. Excluding the year-end tax adjustment and disposal of PV cell inventory, gross margin for sale of PV modules is expected to be in the range of 14% to 15% in the fourth quarter of 2013.

Source: IWR Online, 05 Mar 2014