JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q1 2019 Earnings Presentation
9 slides from JinkoSolar's earnings presentation, Jun 28, 2019
Slide 1: Q1 2019 Earnings Call Presentation
JinkoSolar Holding Co., Ltd. Q1 2019 Earnings Call Presentation June 28, 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 Q4 2018 Q1 2019 Q2 2019 E FY 2019 E Capacity (GW) 9.7 (incl. 5.7 10.5 (incl. 6.5 10.5 (incl. 6.5 15 ( incl. 11.5 -Wafer mono wafer) mono wafer) mono wafer) mono wafer) 7.0 (incl. 4.2 7.0 (incl. 5.4 7.4 (incl. 5.8 10 (incl. 9.2 -Cell PERC cell) PERC cell) PERC cell) P
Slide 4: Capacity and Shipment
Capacity and Shipment Capacity (MW) Total Module Shipments (MW) 12,000 11,000 10,800 10,800 11,000 4,000 10,000 9,700 3,618 3,500 3,037 9,000 8,000 8,000 3,000 2,953 8,000 2,374 7,000 7,000 2,884 2,481 2,794 7,000 6,500 2,500 2,015 6,000 2,000 5,000 5,000 5,000 4,300 4,000 1,500 4,000 3,200 3,000 1,
Slide 5: Quarterly Financial Highlights (Unaudited)
Quarterly Financial Highlights (Unaudited) Total Revenues and Module Shipments Gross Profit and Gross Margin 3,618 14.9% 3,037 14.7% 16.6% 2,953 12.0% 2,481 11.6% 2,015 113 110 145 165 144 976 728 975 1,123 868 4Q 17 1Q 18 3Q 18 4Q 18 1Q 19 4Q 17 2Q 18 3Q 18 4Q 18 1Q 19 Gross Profit (US$ mln) Revenu
Slide 6: P&L Summary (Unaudited)
P&L Summary (Unaudited) US$ in millions Q1 2018* Q2 2018* Q3 2018* Q4 2018* Q1 2019* Revenues 728 916 975 1,123 868 Gross Profit 105 110 145 165 144 Gross Margin 14.4% 12.0% 14.9% 14.7% 16.6% Operating Expenses 85 96 118 130 109 Operating Margin 2.7% 1.6% 2.8% 3.1% 4.0% Interest Expense 14 12 8 11 1
Slide 7: Balance Sheet
Balance Sheet Dec 31, 2018* Mar 31, 2019* US$ in millions (audited) (unaudited) Cash and Restricted Cash 506 650 Accounts Receivable 889 872 Inventories 835 966 Net PP&E 1,204 1,118 Total Assets 5,215 5,914 Total Debt 1,412 1,794 -Short-term debt* 1 1033 1,390 -Long-term debt* 379 404 Total Liabilit
Slide 8: Other Key Information
Other Key Information 2018 2019Q1 (US$ in millions) (audited) (unaudited) Depreciation 117 29 3 Operating CF 272 (11) EBITDA 1 224 49 CAPEX 2 539 60 - Manufacturing 352 41 - IPD project assets 187 19 1. EBITDA: net income before interest, taxes, depreciation, amortization, change in fair value of co
Slide 9: Thank you!
Thank you! www.jinkosolar.com