JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q4 2018 Earnings Presentation
9 slides from JinkoSolar's earnings presentation, Mar 22, 2019
Slide 1: JinkoSolar Holding Co., Ltd. Q4 2018 Earnings Call Presentation
JinkoSolar Holding Co., Ltd. Q4 2018 Earnings Call Presentation March 22, 2019
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of JinkoSolar Holding Co., Ltd. (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis
Slide 3: Financial Highlights and Outlook
Financial Highlights and Outlook Q3 2018 Q4 2018 FY 2019E Capacity (GW) 9.2 (incl. 5.2 mono 9.7 (incl.5.7 mono 15 ( incl. 11 mono -Wafer wafer) wafer) wafer) 6.5 (incl. 3.7 PERC 7.0(incl. 4.2 PERC 10 (incl. 9.2 PERC -Cell cell) cell) cell) -Module 10 10.8 15 Module Shipments (MW) 2,953MW 3,618MW 14G
Slide 4: Capacity and Shipment
Capacity and Shipment Capacity (MW) Total Module Shipments (MW) 4,000 12,000 3,618 10,800 11,000 3,500 2,953 9,700 2,884 10,000 3,000 2,794 9,000 8,000 8,000 2,481 8,000 7,000 2,500 2,374 6,500 2,068 2,015 7,000 2,000 6,000 5,000 5,000 5,000 4,300 4,000 1,500 4,000 3,200 3,000 2,500 2,500 1,000 3,00
Slide 5: Quarterly Financial Highlights (Unaudited)
Quarterly Financial Highlights (Unaudited) Total Revenues and Module Shipments Gross Profit and Gross Margin 3,618 14.4% 14.9% 2,953 12.0% 2,481 2,794 14.7% 11.6% 2,015 976 728 916 975 1,123 113 105 110 145 165 4Q 17 1Q 18 2Q 18 3Q 18 4Q 18 4Q 17 1Q 18 2Q 18 3Q 18 4Q 18 Revenues (US$ mln) Total Modu
Slide 6: P&L Summary (Unaudited)
P&L Summary (Unaudited) US$ in millions Q4 2017* Q1 2018* Q2 2018* Q3 2018* Q4 2018* Revenues 976 728 916 975 1,123 Gross Profit 113 105 110 145 165 Gross Margin 11.6% 14.4% 12.0% 14.9% 14.7% Operating Expenses 99 85 96 118 130 Operating Margin 1.4% 2.7% 1.6% 2.8% 3.1% Interest Expense 9 14 12 8 11
Slide 7: Balance Sheet (Unaudited)
Balance Sheet (Unaudited) US$ in millions Dec 31, 2017* Dec 31, 2018* Cash and Restricted Cash 424 506 Accounts Receivable 1,016 889 Inventories 657 835 Net PP&E 1,027 1,204 Total Assets 4,401 5,215 Total Debt 1,142 1,411 -Short-term Borrowings (incl. current portion of long-term 954 1,033 borrowing
Slide 8: Other Key Information (Unaudited)
Other Key Information (Unaudited) (US$ in millions) 2017 2018 Depreciation 93 117 EBITDA 155 224 1 CAPEX 394 539 - PPE 335 352 - IPD project assets 59 183 1. EBITDA: net income before interest, taxes, depreciation, amortization, change in fair value of convertible senior notes and capped call option
Slide 9: Thank you!
Thank you! www.jinkosolar.com