· Consolidated revenue of EUR 189.2 million reached
· EBIT profit of EUR 19.6 million compared with prior period’s EUR 7.4 million loss
· Extraordinary items help consolidated net income reach EUR 1.2 million
· Group liquidity exceeds EUR 114 million
Blaubeuren, March 26, 2015 – The centrotherm Group reached the target that it set itself for its 2014 financial year, achieving EUR 189.2 million of revenue. This lay at the upper end of the stated range of between EUR 150 million and EUR 200 million. Consolidated revenue stood at EUR 119.4 million in the prior-year period, which was five months shorter (June 1 – December 31, 2013). With a 93.1 % export ratio, centrotherm again achieved most of its revenue abroad, with 87.1 % attributable to Asia. Total operating revenue amounted to EUR 184.1 million compared with EUR 79.0 million in the prior-year period.
For the first time since the conclusion of insolvency proceedings, the centrotherm Group returned to profitability at the EBITDA level (earnings before interest, tax, depreciation and amortization), generating EUR 25.3 million (previous year: EBITDA loss of EUR 4.6 million). The EBITDA margin improved from -3.9 % to 13.4 %. Higher total operating revenue as well as other operating income of EUR 36.4 million, primarily deriving from extraordinary items in the 2014 financial year, contributed to this EBITDA improvement. Operating profit (EBIT) improved to EUR 19.6 million (previous-year period: EUR -7.4 million), reflecting a 10.3 % EBIT margin. Following a EUR 7.6 million loss in the prior-year period, the Group returned to net profitability of EUR 1.2 million in the 2014 financial year.
New order intake and order book position
The Group received new orders worth a total of EUR 107.4 million in the 2014 financial year, with EUR 94.2 million attributable to the Photovoltaics & Semiconductor segment. The centrotherm Group thereby registered its highest level of new order intake in this segment since 2012. Market recovery in the photovoltaic industry fed through to solid new order intake especially in the first half and fourth quarter of 2014. Solar cell manufacturers are again investing in new production plants following the slack investment period during 2012 and 2013. Triggered by intensified and widening punitive US tariffs on Chinese and Taiwanese solar products, investments in new systems on these markets collapsed in part during the third quarter of 2014. Cell and module manufacturers postponed their expansion plans as a consequence, and examined potential scenarios as to how to avoid the punitive tariffs.
