JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q1 2018 Earnings Presentation
10 slides from JinkoSolar's earnings presentation, Jun 26, 2018
Slide 1: JinkoSolar Holding Co., Ltd. Q1 2018 Earnings Call Presentation
JinkoSolar Holding Co., Ltd. Q1 2018 Earnings Call Presentation June 26, 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 Q4 2017 Q1 2018 Q2 2018E FY 2018E 8,000 – wafer 9,000 – wafer 9,000 – wafer 9,700 – wafer Capacity (MW) 5,000 – cell 5,000 – cell 5,000 – cell 6,000 – cell 8,000 – module 9,000 – module 9,000 – module 10,500 – module Module Shipments (MW) 2,481MW 2,015MW 2.4GW-2.5GW
Slide 4: Capacity and Shipment
Capacity and Shipment Capacity (MW) Total Module Shipments (MW) 3,000 2,884 10,000 9,000 9,000 2,374 9,000 2,481 8,000 8,000 2,500 8,000 2,015 2,068 7,000 6,500 2,000 1,716 1,733 6,000 5,000 1,606 5,000 5,000 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: Cost per Watt Reduction
Cost per Watt Reduction ($/Watt) Q2 2017 Q3 2017 Q4 2017 Q1 2018 Non-Silicon Cost (Including Depreciation, Shipping & Warranty 0.260 0.255 0.253 0.250 cost) Silicon Cost 0.068 0.067 0.074 0.065 In-house Cost (Including Depreciation, Shipping & 0.328 0.322 0.327 0.315 Warranty cost) Blended Cost 0.35
Slide 6: Quarterly Financial Highlights from continuing operations (Unaudited)
Quarterly Financial Highlights from continuing operations (Unaudited) Total Revenues and Module Shipments Gross Profit and Gross Margin 14.4% 2,884 20.5% 19.2% 11.6% 2,481 10.5% 2,068 2,374 2,015 839 1,169 965 976 728 94 123 116 113 105 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 Gro
Slide 7: P&L Summary from continuing operations (Unaudited)
P&L Summary from continuing operations (Unaudited) US$ in millions Q1 2017* Q2 2017* Q3 2017* Q4 2017* Q1 2018* Revenues 839 1,169 965 976 728 Gross Profit 94 123 116 113 105 Gross Margin 11.2% 10.5% 12.0% 11.6% 14.4% Operating Expenses 86 111 102 99 85 Operating Margin 1.0% 1.1% 1.4% 1.4% 2.7% Inte
Slide 8: Balance Sheet (Unaudited)
Balance Sheet(Unaudited) US$ in millions Dec 31, 2017* Mar 31, 2018* Cash and Restricted Cash 424 457 Accounts Receivable 1,016 1,052 Inventories 657 750 Net PP&E 1,027 1,087 Total Assets 4,401 4.681 Total Debt 1,142 1,335 -Short-term Borrowings (incl. current portion of long-term 954 1,092 borrowin
Slide 9: Other Key Information from continuing operations
Other Key Information from continuing operations (Unaudited) (US$ in millions) 2017Q1 2017Q2 2017Q3 2017Q4 2018Q1 Depreciation 20 23 25 27 29 Operating CF 25 8 (168) 175 240 EBITDA 37 37 36 45 43 CAPEX 110 164 61 145 74 EBITDA: net income before interest, taxes, depreciation, amortization, change in
Slide 10: Thank you!
Thank you! www.jinkosolar.com