Taiwan’s GET says net loss deepens in Q1 2015
May 13, 2015 18:12 CEST
May 13 – Taiwanese wafer manufacturer Green Energy Technology Inc (TPE:3519), or GET, saw its net loss for the first quarter of 2015 widen to TWD 415 million (USD 13.5m/EUR 11.9m) from TWD 131 million a year back.
The company explained the drop in its bottom line with the lower average selling prices (ASP) of supply-chain products during the three months. Looking forward, the firm said it expects demand for solar products to stabilise during the second half of 2015, driven by an expected increase in installations in China.
January-March gross result was negative at TWD 266 million. This compares to a TWD-193-million gross profit in the corresponding period of 2014.
In the meantime, GET’s first-quarter net sales grew to TWD 4 billion from TWD 3.78 billion in 2014.
GET operates as the solar arm of Taiwanese electrical and electronic products maker Tatung Group. The firm has a 2-GW own manufacturing capacity and an additional 700 MW in partnerships.
(TWD 10 = USD 0.326/EUR 0.288)
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