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Trina Solar Company PPT
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The power behind the panel
| Confidential 2
This presentation does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of Trina Solar Limited (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever.
The information herein has been prepared by the Company solely for use in this presentation. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives will be liable (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation.
Disclaimers
3
Company Overview
The Solar Challenge
Trina Solar Strategy and Roadmap
Sales and Marketing
Financial Performance
| Confidential 4
27.4
75.9
201.1
2006 2007 2008
● Founded in 1997, in Changzhou, China ● 201 MW module production in 2008● $831.9 millions of revenue in 2008● 4,800 employees worldwide ● Listed on the NYSE (under TSL ticker)● One single manufacturing campus
Our Advantage: Vertically Integrated Business Model
Company Snapshot
Module Shipments
Ingot Wafer Cell Module System
CAGR: +172%
| Confidential 5
Our Competitive Advantage
- Top Quality - > Ranked in the top 2 of 14 international solar module manufacturers in
“TUV Reinland's Energy Yield 2008” (period from June 1 to September 30, 2008)
> Working closely with our suppliers to ensure optimum reliability and quality
- Low Cost Structure - > Multicrystalline processing cost: $ 0.82/W in 4Q08> Efficient management of supply chain – just-in-time management
- Efficient Technology - > Cell efficiency (commercial production): up to 17.5% mono & 16.3% multi
> Goal: reach 18.5% mono and 17.5% multi within 1 year.
- Good Financial Position - > 2008: Gross Margin of 19.8% and total available credit line of $200M > Short term balances reduced by 14% from 3Q08 to $248.6M
DELIVER THE BEST VALUE TO OUR CUSTOMERS
| Confidential 6
Named fastest growing company in the Deloitte Technology Fast 50, China 2007
History & Milestones
IPO: 20/12/06
2006
Trina Solar Ltd.founded
Built first BIPV demo house in China
Built 39 PVPlants in Tibet
Launched Ingot manufacturing
Launched Wafer manufacturing
ISO 9002 StandardTrina Solar Research Center
Participated in first Renewable Energy Law in China
Launched Cell manufacturing
First commercial shipments
Reach 350MW capacity
Launch of BIPV and UMG-Si module lines
1999 2001 2003 2005 2006 2007 20081997 2009
Proud sponsor of Espanyol Barcelona
Cell Supply for Partnership
with Lisa Airplanes
| Confidential 7
Trina offices in 2008
Markets with sales: > 18 COUNTRIES
Barcelona
Munich
San Francisco
Changzhou (HQ)Shanghai
More than 12 nationalities from 4 different continents represented within Trina Solar
Investors from USA, Europe and Asia
Global Footprint
Germany, Spain, USA , Italy, Benelux, France, Greece, S. Africa, S. Korea, UK, Norway, Austria, Czech, Australia, Portugal, China, Mongolia,…
Listed on the NYSE
Seoul
Headquarter & production
| Confidential 8
Management Team
Jifan GaoChairman and
Chief Executive Officer
20+ years of experience in finance and accounting
Former Exec. VP of Finance of Spreadtrum (NASDAQ:SPRD)
Former Controller at one of the world's largest NASDAQ-listed
semiconductor assembly and testing companies
Terry Wang
Chief Financial Officer
25 years experience in supply chain management
Vice-President of Solectron Asia-Pacific Services
Previously Senior Executive of several global business units at Solectron
Sean Tzou
Chief Operation Officer
20+ years of management and entrepreneurial experience
Visionary founder of Trina Solar Ltd, in 1997
Standing Vice Chairman of the New Energy Chamber of Commerce of the
All-China Federation of Industry and Commerce
9
Company Overview
The Solar Challenge
Trina Solar Strategy and Roadmap
Sales and Marketing
Financial Performance
| Confidential 10
CHANGE NEEDED
What Change Do We Need?
A radical change is needed in the energy sector that: Is environmentally sustainable Is economically feasible Offers a rapid transition (10 – 20 years) Can be implemented immediately on a large scale Will offer long term solutions in the energy sector Can be implemented at the end-user level
We must all change
| Confidential 11
Today PV~0.5%
“Solar energy could make a significant contribution to
reducing CO2 emissions […] & would help avoid around 3Gigatonnes of CO2 up to 2030” *
*Source: Sustainability report, Sarasin Bank Nov. 2007** Based on 310MW of modules produced, for a house consumption of 5,500kWh/year
Electricity produced from Trina Solar modules over the last 4 years
could have power 78,000 houses**
40 min. of sun ~ 1 year of energy
Solar Is Part Of The Solution
64%
| Confidential 12
1,090
1,4501,750
2,830
5,900
600
2003 2004 2005 2006 2007 2008
Evolution of the Solar Demand
(MW)
Source: Marketbuzz 2009
PV Demand in 2008: 5.9GW
Evolution of the PV demand
Spain 2,463 France 104 China 35 Germany 1,855 CZ Republic 55 Africa 32 USA 357 Belgium 50 Australia 23 S. Korea 276 Portugal 50 Middle East 14 Italy 242 ROE 52 ROW 73 Japan 230 India 36 Total 5,947
Global PV Demand (in MW)
Spain41%
Germany31%
USA6%
S. Korea5%
Japan4%
France2%
Italy4%
ROE3%
ROW4%
13
Company Overview
The Solar Challenge
Trina Solar Strategy and Roadmap
Sales and Marketing
Financial Performance
| Confidential 14
Trina Solar Strategy
CostsSupply Chain Management
Effective supply chain management: just-in-time Improve materials utilization (ex: silicon)Developing global & local suppliers network Internal waste management policy
QualityReliability & technology
Internal reliability testing on module & materialsAccelerated Life Testing reliability tests – 25yr warranty Working closely with UL, ICIM, TUV and customersFull vertical integration to ensure top quality at each step
ServiceCustomer focus
organization
Local sales & technical team to support salesOn-line after sales service launchedDevelop global & diversified customer base to mitigate risk and reduce currency exposure
Cost
Service Quality
Growth
DELIVER THE BEST VALUE TO CUSTOMERS
& INVESTORS
| Confidential 15
160 – 240WpModule Power Range
Module Capacity & Production Growth Main facts
300
27.475
20175
150
350350
- 400
400+
2006 2007 2008 2009
CapacityProductionUnder Contract
Module Capacity Expansion
Wafer Thickness
Cell Efficiency (avg.)
Polysilicon Usage
Cost Structure
180 to 170µm
17.0% mono16.0% multi
6.3g/W in 4Q08
$0.82/W for multicrystalline
| Confidential 16
Integrated manufacturing capabilitiesallows better control of
cost quality yield product development cycle time
Trina Photovoltaic Park Facility Site Strategic location alongside manufacturing
campus Suppliers in neighbouring facilities bring
benefits including cost savings
East Campus (Phases 2 and 3) 500+MW production facility in a single
location to offer increased utilization and efficiency (Phase 2)
Increased degree of vertical integration and automation
Long-Term Expansion Plans
Phase 1
(2004-2008)
Trina PV Park Facility Site
Phase 2
(Current)Phase 3
| Confidential 17
Products And Certificates
Monocrystalline165 – 240 W
- Size: 72, 60 and 48 cells- High Efficiency Cells
- 5 years warranty for
manufacturing defects
- 10/25 years warranty for
90/80% power production
Multicrystalline200 – 230 W
- Size: 60 or 48 cells- 3 Bus Bar configuration
- 5 years warranty for
manufacturing defects
- 10/25 years warranty for
90/80% power production
- Size: 60 cells
- Upgraded Metallurgical
grade silicon
- 2 years warranty for
Manufacturing defects
- 10/20 years warranty for
90/80% power production
- 2 product types: glass-glass
laminated and integrated unit
glass
-Size: 72 and 60 cells
- minimizes power loss during
transmission
- Aesthetically pleasing
UMg-Si 190 – 220 W
BIPV 160 – 220 W
Main Product Lines Secondary Product Lines
18
Company Overview
The Solar Challenge
Trina Solar Strategy and Roadmap
Sales and Marketing
Financial Performance
| Confidential 19
Customer Focus
Wholesalers and
Distributors
PV System Integrators /
Large installers
Brand DevelopmentPV System Owners and Financiers
• Solid position in: Spain, Italy and Germany
• Strong development in: Benelux, France, Czech, Portugal
• Entry into: US, Korea, Greece & Australia
Geographical Distribution: 18 Countries
Large diversified customer base
Active medium-large size customers
Speed to market supported by integrated business model
Well developed channel strategy
Local focus to promote and manage brand
Manage Brand RecognitionIncreased Influence Over End Customer
Market Strategy
| Confidential 20
Italy
2007200775MW
Germany34%
Italy 19%
ROW6%
Spain 41%
Germany25%
20082008201.1 MW
Italy 20%
ROW5%
Spain 32%
Benelux14%
USA3%
2009 2009 estimateestimate
300+MW Pipeline
GermanySpain
Geographic Diversification
Italy 20- 25%
ROW10-5%
Spain 10-12%
Benelux10 -11%
Germany25- 30%
France5-8%
USA8 12%
| Confidential 21
Project InstallationsProject Installations
Spain – 26MW10th largest installations in the world 1
1. Source: pvresources.com, as of April 3, 20092. As of April 3, 2009
USA – 2.4MWAmerica’s largest single rooftop installation 2
Netherlands – 83kW2007 largest PV system in the Netherlands
Italy – 4.7MWLargest PV system in Italy 2
Germany – 3.3MWSaves 2,200 tons of CO2
a year
| Confidential 22
Proud sponsor ofRCD Espanyol BarcelonaSpanish premier ligue team
SponsoringInternational Exhibitions
Lisa Airplane sponsorship
International Exhibitions & Sponsorphips
Provide cells for the first airplane to fly around the world using only renewable energy
Europe, N. America, Australia, S. America, Middle-East
23
Company Overview
The Solar Challenge
Trina Solar Strategy and Roadmap
Sales and Marketing
Financial Performance
| Confidential 24
$27,275$114,500
$301,819
$831,901
2005 2006 2007 2008
Revenue
$6,289$30,050
$67,914
$164,442
2005 2006 2007 2008
Gross Profit
One of the strongest growth in the industry
$3,311$12,421
$34,876
$61,355
2005 2006 2007 2008
Net Income12.1% 10.8% 11.6%
$4,273$16,920
$35,987
$99,982
2005 2006 2007 2008
Operating Profit15.7% 14.8% 12.0%
Annual Financial Performance
CAGR: + 212%23.1% 26.2% 22.5% 19.8%
12.0% 7.4%
| Confidential 25
San Francisco
Thank you
R. Jim DayDirector Sales & MarketingNorth America
Phone: 760-632-8427Email: [email protected]
The power behind the panel