DMEGC Releases 2024 Annual Report: Revenue of €2.4 Billion with Slight Profit Growth
JINHUA, China, March 13, 2025 /PRNewswire/ -- On March 11, DMEGC released its 2024 annual report which reveals that the company achieved annual revenue of €2.4 billion, with a net profit attributable to the parent company of €238 million, marking a slight year-on-year increase. In contrast to the majority of photovoltaic (PV) companies that reported losses in 2024, DMEGC stood out as one of the few companies maintaining consistent profitability.
The report highlighted that DMEGC's PV product shipments reached 17.2 GW in 2024, a 73% increase compared to the previous year. This growth was attributed to the company's successful differentiated product strategy, the rising proportion of N-type cells and modules, industry-leading non-silicon costs, top-tier cell efficiency, and an increasingly strong brand recognition. Additionally, the company's magnetic materials and lithium battery businesses achieved robust shipment growth of 17% and 56%, respectively.
DMEGC Solar, the solar business brand of DMEGC, boasts a comprehensive product line, including black modules, greenhouse modules, floating modules, hail-resistant modules, anti-dust modules, anti-glare modules, and installation-friendly modules. In terms of production capacity, the company has reached an annual internal capacity of 23 GW for cells and 17 GW for modules, supported by the completion of the second phase of its Lianyungang module project, the Yibin cell project, and the operational launch of its cell facility in Indonesia.
On the branding front, DMEGC has consistently ranked among the top 10 global PV module manufacturers in Wood Mackenzie's rankings, secured the "Top Brand PV Modules" title from EUPD Research for seven consecutive years, been recognized as a "Tier 1 Solar Module Manufacturer" by Bloomberg New Energy Finance for six years, and awarded "Top Performer PV Module Manufacturer" by Kiwa PVEL for four consecutive years.
Despite the ongoing downturn in PV industry prices last year, DMEGC maintained a gross margin of 18.74% for its PV products, only a slight decrease of 2.07% year-on-year. This resilience was partly due to the company's expansion into PV power plant operations.
Looking ahead to 2025, DMEGC aims to achieve both revenue and profit growth. The company plans to strengthen its differentiated competitive strategy and expand its overseas market presence. Its PV business will extend beyond Western and Northern Europe to include Eastern and Southern Europe, with new sales networks established in Brazil, the Middle East, and the United States.
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