JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q1 2017 Earnings Presentation
11 slides from JinkoSolar's earnings presentation, Jun 5, 2017
Slide 1: Q1 2017 Earnings Call Presentation
JinkoSolar Holding Co., Ltd. Q1 2017 Earnings Call Presentation June 5, 2017
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 2016 Q1 2017 Q2 2017E FY 2017E 5,000 – wafer 5,000 – wafer 6,000 – wafer 7,000 – wafer Capacity (MW) 4,000 – cell 4,000 – cell 4,000 – cell 4,500 – cell 6,500 – module 6,500 – module 7,500 – module 8,000 – module Module Shipments (MW) 1,733MW 2,068MW 2.5GW – 2.6GW
Slide 4: Capacity and Shipment
Capacity and Shipment Capacity (MW) Total Module Shipments (MW) 2,200 7,000 6,500 6,500 2,000 6,000 2,068 1,800 5,000 5,000 5,000 1,600 1,716 1,733 4,300 1,710 4,000 4,000 1,400 1,600 1,606 4,000 1,200 3,200 3,000 3,000 2,500 2,500 1,000 1,135 2,000 800 2,000 1,500 913 2,000 600 1,000 1,500 400 200
Slide 5: Significant Cost per Watt Reduction
Significant Cost per Watt Reduction ($/Watt) Q2 2016 Q3 2016 Q4 2016 Q1 2017 Non-Silicon Cost (Including 0.29 0.27 0.25 0.24 Depreciation) Silicon Cost 0.08 0.08 0.07 0.08 In-house Cost 0.37 0.35 0.32 0.32 (Including Depreciation) Blended Cost 0.41 0.37 0.34 0.34 (Excluding tariff cost) Blended Cost
Slide 6: Quarterly Financial Highlights from continuing operations (Unaudited)
Quarterly Financial Highlights from continuing operatoins (Unaudited) Total Revenues and Module Shipments Gross Profit and Gross Margin 20.5% 2,068 18.3% 19.2% 1,600 1,716 1,733 1,606 14.3% 11.2% 819 853 799 738 839 1Q 16 2Q 16 3Q 16 4Q 16 1Q 17 169 156 154 105 94 Revenues (US$ mln) Total Module Shi
Slide 7: Module Sales Geographical Distribution
Module Sales Geographical Distribution Q4 2016 Module sale by Region Q1 2017 Module sale by Region North North America America 18% 13% Emerging China China Market 41% 35% 10% Total: Emerging Total: Market 1,733 MW 18% 2,068 MW Europe 7% Europe 11% APAC APAC 23% 24% Emerging (MW) China APAC Europe No
Slide 8: P&L Summary from continuing operations (Unaudited)
P&L Summary from continuing operations (Unaudited) US$ in millions Q1 2016* Q2 2016* Q3 2016* Q4 2016* Q1 2017* Revenues 819 853 799 738 839 Gross Profit 168 155 154 105 94 Gross Margin 20.5% 18.1% 19.3% 14.3% 11.2% Operating Expenses 86 108 88 94 86 Operating Margin 10.0% 5.4% 8.2% 1.5% 1.0% Intere
Slide 9: Balance Sheet (Unaudited)
Balance Sheet(Unaudited) US$ in millions Dec 31, 2016 Mar 31, 2017* Cash and Restricted Cash 406 249 Accounts Receivable 888 993 Inventories 644 780 Net PP&E 683 767 Total Assets 3,758 3,923 Total Debt 929 881 -Short-term Borrowings (incl. current portion of long-term 791 886 borrowings) -Long-term
Slide 10: Other Key Information from continuing operations
Other Key Information from continuing operations (Unaudited) (US$ in millions) 2016Q1 2016Q2 2016Q3 2016Q4 2017Q1 Depreciation 16 16 18 15 20 Operating CF (15) 57 (179) (123) 25 EBITDA 114 99 89 44 37 CAPEX 79 42 68 88 110 EBITDA: net income before interest, taxes, depreciation, amortization, change
Slide 11: Thank you!
Thank you! www.jinkosolar.com