Huaijin Yang, CEO of JA Solar, announced negative results for Q1 2009:

- Revenues: $33.9m (- 79.4% compared to $164.2m in Q1 2008)

- Total gross loss: $20.9m (compared to gross profit equal to $34.5m in Q1 2008)

- Net loss: $28.285m

 

Mr Yang said that this quarter “has been the most challenging since the start of the company in 2005”. JA Solar delivered only 24MW in Q1 2009 (77% for Chinese customers, 23% for international customers). But thanks to huge decline of polysilicon price (around 32%), the company has been able to reduce its production costs and to face decline in the price of its products (between 20% and 25%).

 

Concerning 2009, the company believes the market bottomed in Q1 2009 and will recover before the end of the year. At the end of March 2009, 400MW were in the backlog while production capacity should increase from 615MW at the beginning of 2009 to 875 at the end of 2009. The goal of JA Solar will be to win market shares in Europe, especially in Germany, Italy, Spain and Portugal.

 

JA Solar also announced it is unlikely to achieve the guidance it made on March, 10^th 2009: revenues between $830m and $952m, production output between 500MW and 550MW. It refused to give a revised guidance.