The photovoltaic energy market remains heated. This is what the financial results released by companies in the solar sector for 2019 and the first quarter of this year indicate.
According to a balance sheet released by SolarEgde, the company's revenue in the first quarter of this year was US$431,2 million, an increase of 59% compared to the same period last year, when revenue was US$271,9 million . Revenue related to the solar energy business was US$407,6 million, an increase of 61% compared to the first quarter of last year, when the amount was US$253,1 million.
For Zvi Lando, CEO of SolarEdge, the first quarter of 2020 was exceptional, even due to the instability caused by the pandemic. “Despite the challenges triggered by Covid-19 during the quarter, we were able to bring products to our customers and satisfy demand. Currently, despite many government-imposed shutdowns, our employees continue to work and operate our business without significant interruptions.”
Risen also showed an increase in its revenue. According to the latest balance sheet released by the manufacturer, the company recorded revenue of approximately US$2,03 billion last year, an increase of 47,7% compared to 2018.
The operating revenue of the manufacturer LONGi also increased last year. According to the company, the increase was 49,62% compared to 2018, reaching around US$4,6 billion in 2019. Still according to balance released by the manufacturer, revenue from operations in the first quarter of this year was approximately US$1,2 billion, an increase of 50,60% compared to the first quarter of 2019.
Solis' profit in the first quarter of this year was almost eight times higher than expected. According to the company, active development in foreign markets, such as the United States, United Kingdom, Netherlands and Australia, has increased the company's foreign revenue to another level. As a result, compared to the first quarter of last year, the net profit growth rate reached a high of 766,54%.
