Maxeon’s web loss expands in 2021, revenues decline

March 25 (Renewables Now) – Maxeon Photo voltaic Applied sciences Ltd (NASDAQ:MAXN) noticed its web attributable loss widen to USD 254.5 million (EUR 230.7m) in 2021 from USD 142.6 million a yr again as photo voltaic module shipments and revenues shrank.

The Singapore-based photo voltaic cell and panel maker, a spin-off of SunPower Corp (NASDAQ:SPWR), defined on Thursday that the yr was marked by provide chain challenges attributable to the COVID-19 pandemic. “We’re actively mitigating provide chain value inflation and renegotiating buyer contracts the place potential,” mentioned CEO Jeff Waters.

Particulars concerning the firm’s monetary efficiency and preliminary forecast for the primary quarter of 2022 can be found within the desk.

Quantities in USD hundreds of thousands

This autumn 2021 This autumn 2020 2021 2020 Q1 2022 forecast
Module shipments (MW) 577 655 1,956 2,145 475-495
Revenues 221.5 245.6 783.3 844.8 210-220
Gross revenue (loss) (10.5) 7.3

(29)

(9.8) (7)-(13)
Web revenue (loss) attributable to shareholders (73.3) 3.5 (254.5) (142.6)
Adjusted EBITDA (loss) (39.2) (17) (125.3) (82.3) (28)-(34)
Capital investments 37.4 13.3 154.2 27.7 22-26

Quantities in USD hundreds of thousands

(29)

Within the closing quarter of 2021, Maxeon ramped up the manufacturing of the Maxeon 6 panels and began preliminary shipments.

Regardless of the pandemic-related constraints available on the market, Maxeon mentioned its up-to-date backlog has exceeded 2 GW, with the US utility-scale market being “a vivid spot.” The corporate’s distributed technology (DG) enterprise is taking un uptake from European purchasers and is registering new gross sales data, the producer added.

(USD 1.0 = EUR 0.907)

Join Renewables Now’s free daily newsletter now!

Source

Leave a Reply