euro adhoc: centrotherm photovoltaics AG
quarterly or semiannual financial
statement
centrotherm photovoltaics presents nine-month report and raises
earnings estimate
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
9-month report
29.11.2007
- Strong growth in order book - Revenue and earnings rise in the first nine months - 2007 earnings forecast raised
Blaubeuren, November 29, 2007 - centrotherm photovoltaics AG achieved a significant increase in order book, revenue and earnings in the first nine months of 2007*. A strong increase in the order book was achieved at EUR 326 million as of September 30, 2007, and currently EUR 402 million.
Consolidated revenue rose to EUR 91.7 million in the first nine months of 2007 (previous year: EUR 40.6 million). centrotherm photovoltaics further expanded its international customers' share in its business, particularly from Asia: 71.2% of revenue was generated in Asia, 23.0% in Germany, and 5.8% in the rest of Europe and the rest of the world.
The critical metric to assess centrotherm photovoltaics' business position is total output since this also contains changes in work-in-progress. Total output increased to EUR 100.3 million in the first nine months of 2007 (9M 2006: EUR 41.7 million).
EBIT (operating earnings before interest and tax) rose to EUR 11.9 million in the first nine months of 2007 (9M 2006: EUR 4.3 million). Consolidated earnings amounted to EUR 7.2 million in the first nine months of 2007 (9M 2006: EUR 2.7 million).
The group's strong growth is also reflected in the higher number of employees. centrotherm photovoltaics had 143 employees as of September 30, 2007.
centrotherm photovoltaics anticipates a continuation of the positive sector environment in the next few months, and average market growth rates of around 30% per annum, based on expert estimates. Based on current figures and the continuation of good growth, the Management Board expects that the revenue forecast at the time of the flotation of EUR142 million, which also represents analysts' consensus, and the EBIT forecast, will be exceeded for the 2007 full year.
The interim report as of September 30, 2007 is available for download on the centrotherm photovoltaics AG website (www.centrotherm-pv.de) in the Investor Relations area.
*The comparability of the financial disclosures in the 2006 and 2007 reporting periods, particularly those of the nine-month figures, is limited due to various factors.
end of announcement euro adhoc 29.11.2007 09:00:07
Further inquiry note:
Saskia Schultz-Ebert
Senior Manager Investor Relations
Tel: +49 (0) 7344 918-8890
saskia.schultz-ebert@centrotherm.de
Branche: Energy
ISIN: DE000A0JMMN2
WKN: A0JMMN
Börsen: Börse Frankfurt / regulated dealing/prime standard