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Income Statement
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China Sunergy Co., Ltd. (CSUN)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-15Dec-31-14Dec-31-13
   20-F20-F20-F
Revenues:  
    Netherlands  10.62.18.4
    Czech Republic and Slovakia  0.00.61.8
    Bulgaria  0.20.11.9
    Europe  80.7104.8149.2
    Other  350.3233.5154.9
Total revenues  441.8341.1316.2
            Revenue growth   [+]29.5%7.9% 
Cost of goods sold  418.3330.5301.0
Gross profit  23.610.615.2
            Gross margin  5.3%3.1%4.8%
Selling, general and administrative   [+]61.038.446.4
Research and development  3.13.26.0
Other operating expenses  0.00.0-3.9
EBITDA   [+]-21.5-10.9-10.7
            EBITDA margin  -4.9%-3.2%-3.4%
Depreciation  19.020.122.7
EBITA  -40.5-30.9-33.3
            EBITA margin  -9.2%-9.1%-10.5%
Amortization of intangibles  0.0  
EBIT   [+]-40.5-30.9-33.3
            EBIT margin  -9.2%-9.1%-10.5%
Non-recurring items   [+]0.00.03.9
Interest expense, net   [+]22.322.322.2
Other income (expense), net  -15.8-2.69.0
Pre-tax income  -78.6-55.9-50.5
Income taxes  1.40.61.1
Minority interest  0.5-0.4-1.0
Net income  -80.5-56.1-50.6
            Net margin  -18.2%-16.4%-16.0%
   
Basic EPS   [+]($0.30)($0.21)($0.20)
Diluted EPS   [+]($0.30)($0.21)($0.20)
   
Shares outstanding (basic)   [+]267.3267.3255.1
Shares outstanding (diluted)   [+]267.3267.3255.1
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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