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.”
