centrotherm photovoltaics AG

EANS-News: centrotherm photovoltaics reports figures for the first quarter of 2012

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Company Information

Subtitle:     • Group books show major new order from Algeria's Sonelgaz

    • Order book position amounts to EUR 508.2 million
    • Revenue at EUR 82.5 million – loss before interest and tax of EUR 42.9
    • Equity ratio increases by 2.1 points to 43.2 per cent

Blaubeuren (euro adhoc) - May 10, 2012 - In a difficult market environment,
centrotherm photovoltaics AG reports EUR 255.4 million of new order intake in
the first quarter of 2012 (prior-year period: EUR 224.3 million). Following a
related advance payment, this new order intake figure now includes the EUR 227.1
million order awarded by Sonelgaz to construct a fully integrated solar module
factory in Algeria. The sector and financing situation in the industry remains
tense, and continues to be reflected in business trends. The Group generated
EUR 82.5 million of revenue in the first three months of this year
(previous-year period: EUR 189.3 million). The EBITDA fell to EUR minus 27.9
million (previous-year period: EUR 24.0 million). The Group reported a EUR 42.9
million operating loss at the earnings before interest and tax (EBIT) level
(previous-year: EUR 17.7 million profit). The net income came  to EUR minus 30.6
million(previous-year period: EUR 12.2 million).

The order book position amounted to EUR 508.2 million as of March 31, 2012
(December 31, 2011: EUR 423.0 million).The equity ratio increased by 2.1 points
to 43.2 per cent in comparison with the 31 December 2011. The number of
employees decreased by 9.4 per cent to 1,747 (31 December 2011: 1,928).

"With the order to construct a solar factory in Algeria, we are showing that
centrotherm is succeeding in a highly competitive solar market with 'made in
Germany' technology and products. We do, however, continue to face an extremely
turbulent market. As a consequence, we incurred EUR 21.5 million of market-
related charges in the first quarter, and EUR 6.6 million due to the strategic
reorientation of our Thin Film segment," commented Dr. Thomas Riegler, CFO of
centrotherm photovoltaics AG. "Our priority in the current period lies
completely in the implementation of our ct focus restructuring program of
safeguarding liquidity and results."

Segment trends
In its Silicon & Wafer segment, centrotherm photovoltaics achieved revenue of
EUR 37.2 million with the sale of silicon production technology and systems
(previous-year period: EUR 29.3 million). The segment reported a EUR 0.2
million operating loss at the earnings before interest and tax (EBIT) level
(previous-year period: EUR 2.2 million profit). The segment's order book
position stood at EUR 195.5 million as of March 31, 2012 (December 31, 2011:
EUR 176.1 million).

In its Solar Cell & Module segment, revenue amounted to EUR 37.2 million (prior-
year period: EUR 154.9 million). The segment reported a EUR 32.2 million loss
at the EBIT level (previous-year period: EUR 19.3 million profit). This
segment's order book stood at EUR 306.3 million at the end of the first quarter
(December 31, 2011: EUR 234.6 million).
The Thin Film Module segment generated EUR 8.1 million of revenue (previous-
year period: EUR 5.1 million). The segment reported a EUR 10.5 million loss at
the EBIT level (prior-year period: EUR 3.8 million loss). The Thin Film Module
segment reported an order book position of EUR 6.4 million (December 31, 2011:
EUR 12.3 million).

"We do not believe that the negative trend in the sector will be reversed in
the first six months of 2012," commented CFO Mr. Riegler. "However, we regard
the continued cost pressure in the photovoltaic industry as an opportunity.
This is because only highly efficient technologies and production systems will
lead to competitive advantages for our customers. We will benefit from our
product portfolio as soon as the market picks up again."

Note: The interim report as of March 31, 2012 can be downloaded from the
company's website at www.centrotherm.de, in the Investor Relations area.

About centrotherm photovoltaics AG
centrotherm photovoltaics AG, which is based at Blaubeuren, Germany, is a
globally leading technology and equipment provider for the photovoltaics
sector. The company equips well-known solar companies and new sector entrants
with turnkey production lines and single equipment to manufacture silicon,
crystalline solar cells and thin film modules. As a consequence, the Group
possesses a broad and well-founded technological basis, as well as key
equipment at practically all steps of the photovoltaics value chain.
centrotherm photovoltaics guarantees its customers important performance
parameters such as production capacity, efficiencies, and completion deadlines.
The Group employed around 1,900 staff as of the December 31, 2011 reporting
date, and operates globally in Europe, Asia and the USA. centrotherm
photovoltaics achieved revenue in the 2011 financial year of around EUR 700
million. The company is listed in the TecDAX index on the Frankfurt Stock

Saskia Feil
Senior Manager Investor & Public Relations
Tel: +49 7344 918-8890
E-mail: saskia.feil@centrotherm.de

Dr. Torsten Knödler
Manager Public Relations
Tel: +49 7344 918-8898
E-mail: torsten.knoedler@centrotherm.de

Further inquiry note:
Dr. Torsten Knödler
Manager Public Relations
Tel.: 07344 - 918-8898
E-Mail: torsten.knoedler@centrotherm.de

end of announcement                               euro adhoc 

company:     centrotherm photovoltaics AG
             Johannes-Schmid-Str. 8
             D-89143 Blaubeuren
phone:       +49 (0) 7344 91880
mail:     info@centrotherm.de
WWW:      http://www.centrotherm.de
sector:      Energy
ISIN:        DE000A0JMMN2
indexes:     TecDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
             regulated dealing/prime standard: Frankfurt 
language:   English

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