CENTROSOLAR reports positive operating result for third quarter of 2011
- Q3 EBIT positive despite weak revenue
- Long-term focus on quality roof systems proving to be a successful business model
Munich, October 13, 2011 – CENTROSOLAR Group AG defied the market trend to achieve a positive EBIT for the third quarter according to preliminary results, reducing the losses of EUR 4.9 million incurred in the first half of the year. The anticipated recovery in demand for solar systems failed to materialise despite attractive rates of return for end customers, and revenue for the quarter therefore fell short of expectations at around EUR 72 million. Nevertheless, the long-term focus on quality roof systems made by the company’s own module factory in Germany, with local tradespeople acting as the sales partners, has proven to be a stable business model. Paired with a forward-looking approach to cost management, it is thus able to post a positive operating result despite the difficult market environment.
Following weak worldwide demand in the third quarter and the sharp decline in prices, CENTROSOLAR now expects revenue for the full year to reach around EUR 300 million. The company likewise expects the fourth quarter to bring a further improvement in the operating result for the year. Assuming a revival in demand in the fourth quarter, a positive operating result for 2011 as a whole therefore remains achievable.
About CENTROSOLAR Group AG:
The listed company CENTROSOLAR Group AG, Munich, (stock exchange code WKN 514850) is one of the leading suppliers of photovoltaic (PV) systems for roofs and key components, with over 1,000 employees in Europe and North America and annual revenue in excess of EUR 400 million (2010). Its product range comprises solar integrated systems, modules, inverters, mounting systems and solar glass. It generates around half its revenue internationally. There are CENTROSOLAR branches in Spain, Italy, France, Greece, Switzerland, the Netherlands, the UK, Canada and the USA.
CENTROSOLAR manufactures solar glass at plants in Fürth (Germany) and Huzhou (China) as well as photovoltaic modules at a production plant in Wismar (Germany). Over the past two years, the production lines for the finishing of glass have been substantially extended in response to rising demand and now have an annual production capacity of eight million square metres. Module manufacturing was also stepped up quite substantially in response to soaring demand. The module plant certified to DIN ISO 9001:2008 in Wismar is one of the largest and most efficient such plants in Europe, with an annual capacity of 350 MWp. Further information available at: www.centrosolar.com.
For more information, please contact:
MetaCom Corporate Communications GmbH,
Georg Biekehör,
tel.: +49 (0)6181 9828030,
e-mail: g.biekehoer@go-metacom.de