JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q2 2018 Earnings Presentation
9 slides from JinkoSolar's earnings presentation, Aug 13, 2018
Slide 1: Q2 2018 Earnings Call Presentation
JinkoSolar Holding Co., Ltd. Q2 2018 Earnings Call Presentation August 13, 2018
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 Q1 2018 Q2 2018 FY 2018E 9,000 – wafer 9,000 – wafer 9,700 – wafer Capacity (MW) 5,000 – cell 5,000 – cell 7,000 – cell 9,000 – module 9,000 – module 10,800 – module Module Shipments (MW) 2,015MW 2,794MW 11.5GW –12GW $728.1 $915.9 Revenues (US$ in millions) (-28.1%)
Slide 4: Capacity and Shipment
Capacity and Shipment Capacity (MW) Total Module Shipments (MW) 3,000 2,884 10,000 2,794 9,000 9,000 9,000 8,000 8,000 2,500 2,374 2,481 8,000 2,068 6,500 2,015 7,000 2,000 1,733 6,000 5,000 5,000 5,000 1,606 5,000 4,300 1,500 4,000 4,000 3,200 3,000 2,500 2,500 1,000 3,000 2,000 2,000 1,500 500 1,0
Slide 5: Quarterly Financial Highlights (Unaudited)
Quarterly Financial Highlights (Unaudited) Total Revenues and Module Shipments Gross Profit and Gross Margin 2,884 2,794 14.4% 2,374 2,481 12.0% 11.6% 2,015 10.5% 12.0% 1,169 965 976 728 916 123 116 113 105 110 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 Gross Profit (US$ mln) Gross
Slide 6: P&L Summary (Unaudited)
P&L Summary (Unaudited) US$ in millions Q2 2017* Q3 2017* Q4 2017* Q1 2018* Q2 2018* Revenues 1,169 965 976 728 916 Gross Profit 123 116 113 105 110 Gross Margin 10.5% 12.0% 11.6% 14.4% 12.0% Operating Expenses 111 102 99 85 96 Operating Margin 1.1% 1.4% 1.4% 2.7% 1.6% Interest Expense 12 8 9 14 12
Slide 7: Balance Sheet (Unaudited)
Balance Sheet (Unaudited) US$ in millions Dec 31, 2017* June 30, 2018* Cash and Restricted Cash 424 387 Accounts Receivable 1,016 1,048 Inventories 657 890 Net PP&E 1,027 1,078 Total Assets 4,401 4,969 Total Debt 1,142 1,403 -Short-term Borrowings (incl. current portion of long-term 954 1,155 borrow
Slide 8: Other Key Information (Unaudited)
Other Key Information (Unaudited) (US$ in millions) 2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 Depreciation 23 25 27 29 31 Operating CF 8 (168) 175 240 164 1 EBITDA 37 36 45 43 59 CAPEX 164 61 145 74 185 2 Blended Cost 0.356 0.346 0.350 0.324 0.323 ($/Watt) 1. EBITDA: net income before interest, taxes, depr
Slide 9: Thank you!
Thank you! www.jinkosolar.com