Yingli Green Energy Q4 Loss Narrows - Quick Facts

(RTTNews) - Yingli Green Energy Holding Company Limited (YGE) said that its fourth-quarter of fiscal 2013 net loss attributable to the company narrowed to RMB 776.2 million or $128.2 million from RMB 1.249 billion in the fourth quarter of 2012.

Loss per ordinary share and per ADS was RMB 4.95 or $0.82, compared to a loss of RMB 7.98 last year.

On an adjusted non-GAAP basis, net loss was RMB 289.9 million or $47.9 million, compared to a loss of RMB 908.3 million in the prior year.

Adjusted non-GAAP loss per ordinary share and per ADS was RMB 1.85 or $0.31 compared to a loss of RMB 5.80 in the fourth quarter of 2012.

Total net revenues were RMB 3.711 billion or $613.0 million, an increase from RMB 2.903 billion in the fourth quarter of 2012. The increase in net revenues was primarily attributable to the increased PV modules shipments, which was partially offset by a decline in revenues from sale of PV systems recognized in the fourth quarter of 2013.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.17 per share and revenues of $651.55 million for the quarter. Analysts' estimates typically exclude special items.

Based on current market and operating conditions, estimated production capacity and forecasted customer demand, the Company expects its PV module shipment target to be in the estimated range of 4.0 GW to 4.2 GW (including 400-600 MW shipment for PV systems) for fiscal year 2014, which represents an increase of 29.4% to 32.6% compared to fiscal year 2013.

The company said it would consider various strategies in downstream businesses including selling self-developed PV projects to third parties upon completion, retaining and operating self-developed PV projects, forming joint ventures to develop and operate PV projects, and providing EPC services.

Currently the Company have approximately 1GW of PV projects pipeline under different approval stages across ten provinces in China such as Hebei, Xinjiang, Yunnan, Guangxi and Shandong province and continue to develop actively new pipeline for PV projects in other provinces including Inner Mongolia, Qinghai, Gansu and Ningxia province.

The firm plans to complete the construction of approximately 400~600 MW of those projects by the end of 2014 and up to 25MW is expected to shipped in the first quarter of 2014. Partnering with several large enterprises, the Company is evaluating various approaches to hold or sell these projects.