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Trina Solar Company PPT

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  1. 1. The power behind the panel
  2. 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. 3. <ul><li>Company Overview </li></ul><ul><li>The Solar Challenge </li></ul><ul><li>Trina Solar Strategy and Roadmap </li></ul><ul><li>Sales and Marketing </li></ul><ul><li>Financial Performance </li></ul>
  4. 4. <ul><li>Founded in 1997, in Changzhou, China </li></ul><ul><li>201 MW module production in 2008 </li></ul><ul><li>$831.9 millions of revenue in 2008 </li></ul><ul><li>4,800 employees worldwide </li></ul><ul><li>Listed on the NYSE (under TSL ticker) </li></ul><ul><li>One single manufacturing campus </li></ul>Our Advantage: Vertically Integrated Business Model Company Snapshot Module Shipments Ingot Wafer Cell Module System CAGR: +172%
  5. 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
  6. 6. History & Milestones Named fastest growing company in the Deloitte Technology Fast 50, China 2007 IPO: 20/12/06 2006 Trina Solar Ltd. founded Built first BIPV demo house in China Built 39 PV Plants in Tibet Launched Ingot manufacturing Launched Wafer manufacturing ISO 9002 Standard Trina 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 2008 1997 2009 Cell Supply for Partnership with Lisa Airplanes Proud sponsor of Espanyol Barcelona
  7. 7. Trina offices in 2008 Markets with sales: > 18 COUNTRIES Barcelona Munich San Francisco Changzhou (HQ) Shanghai Global Footprint Germany, Spain, USA , Italy, Benelux, France, Greece, S. Africa, S. Korea, UK, Norway, Austria, Czech, Australia, Portugal, China, Mongolia,… Seoul Headquarter & production More than 12 nationalities from 4 different continents represented within Trina Solar Investors from USA, Europe and Asia Listed on the NYSE
  8. 8. Management Team Jifan Gao Chairman and Chief Executive Officer <ul><li>20+ years of experience in finance and accounting </li></ul><ul><li>Former Exec. VP of Finance of Spreadtrum (NASDAQ:SPRD) ‏ </li></ul><ul><li>Former Controller at one of the world's largest NASDAQ-listed semiconductor assembly and testing companies </li></ul>Terry Wang Chief Financial Officer <ul><li>25 years experience in supply chain management </li></ul><ul><li>Vice-President of Solectron Asia-Pacific Services </li></ul><ul><li>Previously Senior Executive of several global business units at Solectron </li></ul>Sean Tzou Chief Operation Officer <ul><li>20+ years of management and entrepreneurial experience </li></ul><ul><li>Visionary founder of Trina Solar Ltd, in 1997 </li></ul><ul><li>Standing Vice Chairman of the New Energy Chamber of Commerce of the All-China Federation of Industry and Commerce </li></ul>
  9. 9. Company Overview The Solar Challenge Trina Solar Strategy and Roadmap Sales and Marketing Financial Performance
  10. 10. CHANGE NEEDED What Change Do We Need? <ul><li>A radical change is needed in the energy sector that: </li></ul><ul><ul><ul><li>Is environmentally sustainable </li></ul></ul></ul><ul><ul><ul><li>Is economically feasible </li></ul></ul></ul><ul><ul><ul><li>Offers a rapid transition (10 – 20 years) </li></ul></ul></ul><ul><ul><ul><li>Can be implemented immediately on a large scale </li></ul></ul></ul><ul><ul><ul><li>Will offer long term solutions in the energy sector </li></ul></ul></ul><ul><ul><ul><li>Can be implemented at the end-user level </li></ul></ul></ul>We must all change
  11. 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%
  12. 12. Evolution of the Solar Demand (MW) Source: Marketbuzz 2009 PV Demand in 2008: 5.9GW Evolution of the PV demand
  13. 13. Company Overview The Solar Challenge Trina Solar Strategy and Roadmap Sales and Marketing Financial Performance
  14. 14. Trina Solar Strategy Cost Service Quality Growth DELIVER THE BEST VALUE TO CUSTOMERS & INVESTORS Costs Supply Chain Management Effective supply chain management: just-in-time Improve materials utilization (ex: silicon) Developing global & local suppliers network Internal waste management policy Quality Reliability & technology Internal reliability testing on module & materials Accelerated Life Testing reliability tests – 25yr warranty Working closely with UL, ICIM, TUV and customers Full vertical integration to ensure top quality at each step Service Customer focus organization Local sales & technical team to support sales On-line after sales service launched Develop global & diversified customer base to mitigate risk and reduce currency exposure
  15. 15. 160 – 240Wp Module Power Range Module Capacity & Production Growth Main facts Module Capacity Expansion Wafer Thickness Cell Efficiency (avg.) Polysilicon Usage Cost Structure 180 to 170µm 17.0% mono 16.0% multi 6.3g/W in 4Q08 $0.82/W for multicrystalline
  16. 16. cost quality yield product development     cycle time  Long-Term Expansion Plans Phase 1 (2004-2008) ‏ Trina PV Park Facility Site Phase 2 (Current) Phase 3 Integrated manufacturing capabilities allows better control of <ul><li>Trina Photovoltaic Park Facility Site </li></ul><ul><li>Strategic location alongside manufacturing campus </li></ul><ul><li>Suppliers in neighbouring facilities bring benefits including cost savings </li></ul><ul><li>East Campus (Phases 2 and 3) ‏ </li></ul><ul><li>500+MW production facility in a single location to offer increased utilization and efficiency (Phase 2) </li></ul><ul><li>Increased degree of vertical integration and automation </li></ul>
  17. 17. Products And Certificates Monocrystalline 165 – 240 W <ul><li>Size: 72, 60 and 48 cells </li></ul><ul><li>High Efficiency Cells </li></ul><ul><li>5 years warranty for manufacturing defects </li></ul><ul><li>10/25 years warranty for 90/80% power production </li></ul>Multicrystalline 200 – 230 W <ul><li>Size: 60 or 48 cells </li></ul><ul><li>3 Bus Bar configuration </li></ul><ul><li>5 years warranty for manufacturing defects </li></ul><ul><li>10/25 years warranty for 90/80% power production </li></ul><ul><li>Size: 60 cells </li></ul><ul><li>Upgraded Metallurgical grade silicon </li></ul><ul><li>2 years warranty for Manufacturing defects </li></ul><ul><li>10/20 years warranty for 90/80% power production </li></ul><ul><li>2 product types: glass-glass laminated and integrated unit glass </li></ul><ul><li>Size: 72 and 60 cells </li></ul><ul><li>minimizes power loss during transmission </li></ul><ul><li>Aesthetically pleasing </li></ul>BIPV 160 – 220 W Main Product Lines Secondary Product Lines UMg-Si 190 – 220 W
  18. 18. Company Overview The Solar Challenge Trina Solar Strategy and Roadmap Sales and Marketing Financial Performance
  19. 19. Customer Focus Wholesalers and Distributors PV System Integrators / Large installers Brand Development PV System Owners and Financiers <ul><ul><ul><li>Solid position in: Spain, Italy and Germany </li></ul></ul></ul><ul><ul><ul><li>Strong development in: Benelux, France, Czech, Portugal </li></ul></ul></ul><ul><ul><ul><li>Entry into: US, Korea, Greece & Australia </li></ul></ul></ul><ul><li>Geographical Distribution: 18 Countries </li></ul><ul><li>Large diversified customer base </li></ul><ul><li>Active medium-large size customers </li></ul><ul><li>Speed to market supported by integrated business model </li></ul><ul><li>Well developed channel strategy </li></ul><ul><li>Local focus to promote and manage brand </li></ul>Manage Brand Recognition Increased Influence Over End Customer Market Strategy
  20. 20. Italy 2007 75MW Germany 25% 2008 201.1 MW Italy 20% ROW 5% Spain 32% Benelux 14% USA 3% 2009 estimate 300+MW Pipeline Germany Spain Geographic Diversification Italy 20- 25% ROW 10-5% Spain 10-12% Benelux 10 -11% Germany 25- 30% France 5-8% USA 8 12% Germany 34% Italy 19% ROW 6% Spain 41%
  21. 21. Project Installations Project Installations Spain – 26MW 10 th largest installations in the world 1 1. Source:, as of April 3, 2009 2. As of April 3, 2009 USA – 2.4MW America’s largest single rooftop installation 2 Netherlands – 83kW 2007 largest PV system in the Netherlands Italy – 4.7MW Largest PV system in Italy 2 Germany – 3.3MW Saves 2,200 tons of CO 2 a year
  22. 22. Proud sponsor of RCD Espanyol Barcelona Spanish premier ligue team Sponsoring International 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. 23. Company Overview The Solar Challenge Trina Solar Strategy and Roadmap Sales and Marketing Financial Performance
  24. 24. Revenue Gross Profit One of the strongest growth in the industry Net Income 12.1% 10.8% 11.6% Operating Profit 15.7% 14.8% 12.0% Annual Financial Performance CAGR: + 212% 12.0% 7.4% 23.1% 26.2% 22.5% 19.8%
  25. 25. San Francisco Thank you R. Jim Day Director Sales & Marketing North America Phone: 760-632-8427 Email: [email_address]
  26. 26. The power behind the panel