Hanwha Q Cells has reached positive operating results in the first quarter of 2014 and is now the largest European PV provider, the company reports. After struggling to remain profitable in 2012, German-company Q Cells was sold to South Korean conglomerate Hanwha.
Now the German-headquartered PV solutions specialist achieved growing revenues and positive earnings before interests and tax (EBIT) in the first three months of 2014. Moreover Hanwha Q Cells has taken the lead among European PV companies with total shipments of 247MW and a module production volume of 244MW in Q1 2014.
The company has gained further market share in its European home markets and in its single largest market, Japan. In Europe the United Kingdom is an especially important market for the company followed by France and Germany. At the same time Hanwha Q Cells Japan has reached the position as the leading foreign PV provider in Japan, the company reports. Moreover, Hanwha Q Cells has been expanding its power plant solutions business. On the basis of the company´s track record of around 700MW of installed capacity in large scale power plants Hanwha Q Cells has realized projects in the Europe, the Americas and Asia.
Strengthened teams and sales network
During the company´s first full year, 2013, Hanwha Q Cells has strengthened teams at its headquarters in Germany as well as at its mass production site in Malaysia and increased its international sales force in order to satisfy the growing global demand. In 2014 the PV specialist has opened new offices in France as well as in the emerging markets Turkey and Chile. Thus Hanwha Q Cells has increased its global headcount from 1.225 employees at the launch of the company in October 2012 to approximately 1.350 employees at present.