DMEGC Reports Annual Revenue of €2.4 Billion for 2024

DMEGC's Annual Report 2024: Financial Growth Amid Challenges

On March 11, 2024, DMEGC declared its annual financial performance, which reflects a robust total revenue of €2.4 billion. This figure is complemented by a net profit attributable to the parent company amounting to €238 million, marking a modest year-on-year growth. In a period where many photovoltaic companies reported financial losses, DMEGC emerged as one of the rare firms maintaining its profitability.

The company’s success was primarily driven by significant advancements in product shipments. DMEGC achieved an impressive 17.2 gigawatts (GW) in photovoltaic shipments, showcasing a remarkable year-on-year increase of 73%. This surge can be attributed to the firm’s focused strategy on differentiated products, an increasing market share for N-type solar cells and modules, as well as industry-leading non-silicon-related costs. Furthermore, the efficiency of their cells remains top-tier, and their brand recognition is steadily on the rise.

Additionally, DMEGC's ventures into magnetic materials and lithium battery markets contributed positively, with shipment levels increasing by 17% and 56%, respectively. The company’s strategic emphasis on innovation has proven fruitful, allowing DMEGC to carve out a niche in a competitive sector.

DMEGC Solar, the solar arm of DMEGC, offers a comprehensive array of products that include black modules, greenhouse modules, floating modules, hail-resistant modules, dust-proof modules, anti-reflective modules, and easy installation modules.

With regards to production capabilities, DMEGC has established an impressive annual production capacity of 23 GW for cells and 17 GW for modules. This expansion was bolstered by the completion of the second phase of the Lianyungang module project, advancements in the Yibin cell project, and the launch of a new cell manufacturing facility in Indonesia.

DMEGC has consistently ranked among the world’s top 10 manufacturers in the photovoltaic module sector, as per Wood Mackenzie’s classification. The company has been lauded with numerous accolades, including the title of 'Best Photovoltaic Module Brand' by EUPD Research for seven consecutive years, and has been recognized as a 'Level 1 Solar Module Manufacturer' by Bloomberg New Energy Finance for six years straight. DMEGC also received the 'Best Photovoltaic Module Manufacturer' award from Kiwa PVEL for four years running.

Despite a continual drop in industry prices last year, DMEGC successfully maintained a gross margin of 18.74% for its solar products, experiencing a minor decline of 2.07% year-on-year. This resilience can partly be attributed to the company’s expansion into the photovoltaic power plant sector, solidifying its market presence further.

Looking forward to 2025, DMEGC aims to achieve both revenue and profit growth. The company plans to enhance its competitive differentiation strategy and expand its international footprint. The photovoltaic business's market reach will extend beyond Northern and Western Europe to include Eastern and Southern European markets, complemented by new sales networks being established in Brazil, the Middle East, and the United States. This initiative underscores DMEGC’s commitment to global expansion and adaptation in the dynamic renewable energy sector.