Thu, Aug 15, 2013 - Page 13 News List

Green Energy posts smaller loss in Q2

By Lisa Wang  /  Staff reporter

Green Energy Technology Inc (綠能科技), the nation’s biggest solar wafer supplier, posted its smallest loss in seven quarters, thanks to stabilizing prices and reduced costs.

Losses shrank to NT$482 million (US$16.05 million) last quarter from a loss of NT$645 million in the first quarter and a loss of NT$911 million a year ago.

It was the company’s best performance since the second quarter of 2011, when it first fell into the red because of falling demand.

Gross margin improved to minus-16 percent last quarter because of cost cuts and a stable average selling price, from minus-19 percent in the first quarter and minus-24 percent last year.

Factory utilization reached 95 percent last quarter.

For the first half of the year, Green Energy posted a loss of NT$1.13 billion, down from a loss of NT$1.76 billion a year ago.

Most other Taiwanese solar cell manufacturers returned to profit last quarter, thanks to increased demand from Chinese clients amid trade disputes with the EU.

Taiwan’s largest solar cell maker, Neo Solar Power Corp (新日光), made a profit of NT$335 million, or NT$0.64 per share, last quarter, compared with a net loss of NT$599 million in the first quarter.

Gintech Energy Corp (昱晶) reported a second-quarter net income of NT$110 million, or NT$0.32 per share, while Motech Industries Inc (茂迪) had a net profit of NT$156 million, or NT$0.24 a share.

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