PV Crystalox Solar plc

where we operate

PV Crystalox Solar is committed to systematically enhancing its leadership by focusing on developing strong relationships with solar cell producers. It is our intention to remain one of the PV industry leaders and to supply the highest quality wafers.

Enhancing our existing relationships

We have strong customer relationships with leading producers in Japan, Germany, Taiwan and China.

China is now the second largest market at 30.7% of revenues.
Our top four customers accounted for 74% of revenues in 2010.

Japan

Japan remains the major market for the Group’s wafers and Japanese installations are increasing following last year’s reintroduction of subsidies together with the introduction of a feed in tariff ‘FIT’.

Market outlook

We have long established relationships with solar cell producers in Japan and these companies continue to represent the Group’s major customer base.

2010 Revenue contribution 31.1%

€78.5m (2009: €133.7m)

China

China is the world’s largest manufacturing centre and our shipments to China are growing rapidly as demand from our established customer base increases. China has now become our second largest geographic market and accounts for 30.7% of revenues.

Market outlook

China now accounts for half of global PV production.

2010 Revenue contribution 30.7%

€77.6m (2009: €21.1m).

Rest of Asia

Strong sales growth was also achieved in Taiwan where volumes increased fourfold over the previous year and which represented 11% of our revenues (2009: 2.9%). Taiwan is becoming an increasingly important PV manufacturing centre as it builds on its long heritage in the semiconductor sector and is expected to have overtaken Germany and Japan to become the world’s second largest in 2010.

Market outlook

During 2011 we expect Taiwan to become an increasingly significant regional customer base for the Group and anticipate that its share will increase significantly from current levels.