Financial Integrity
S-Energy (CEO Hong Seong-min, www.s-energy.com) was introduced as Korea’s leading solar energy company by Bloomberg New Energy Finance in its report “PV Module Bankability 2014 Who to Trust.”
Bloomberg New Energy Finance is an online media site which provides analysis and evaluation of the bankability of every solar energy company in the world in report format.
It announced that S-Energy received a very high score on Altman-Z analysis, a tool for analyzing financial integrity.
The Altman-Z score was made by Edward I. Altman in 1968, a Professor of Finance at New York University, used to predict the bankruptcy of companies by using multiple corporate income and balance sheet values to measure the financial health of a company. It has been recognized as an effective tool to predict the probability that a firm will go into bankruptcy within two years.
According to the analysis, only two module manufacturers including S-Energy fell into the safety zone.
Choe Dong-beom, the financial head of S-Energy said, “Solar energy modules have warranties of 25 years or more, so financial integrity is crucial factor to check on for all module buyers.”