19 Nov 2014 07:00
PV Crystalox Solar PLC
19 November 2014
Interim Management Statement
PV Crystalox Solar PLC ("the Group") announces its Interim Management Statement on a voluntary basis for the period from 1 July 2014 to the date of this announcement. From 7 November 2014, the requirement in the Disclosure Rules and Transparency Rules to publish interim management statements has been removed. As a result the Group will cease publishing such statements after this one.
The PV market is slowly adjusting to the changes brought about by the imposition of fresh US anti-dumping duties in July on solar cells from China and Taiwan. Prices across the value chain have seen very modest gains from the recent low point reached in late August and wafer prices remain below industry production costs. PV installations are expected to be at record levels in Q4 with industry analyst NPD Solarbuzz forecasting global PV installations to reach 50GW in 2014.
The Group expects full year wafer shipments to be within the range 200-220MW in accordance with the guidance given in the 2014 Interim Report. The strengthening of the US dollar and the weakening of the Japanese yen seen in recent weeks are expected to impact positively the Group's gross margins, although these remain negative.
Enquiries:
PV Crystalox Solar plc +44 (0) 1235 437160
Iain Dorrity, Chief Executive Officer
Matthew Wethey, Chief Financial Officer and Group Secretary