- Consolidated revenue of EUR 78.1 million
- Positive EBITDA and reduction in consolidated loss
- Liquidity grows to EUR 108.7 million
- Difficult second half year anticipated; achieving guidance 2014
- nonetheless possible
Blaubeuren, August 14, 2014 – Together with its subsidiaries, centrotherm achieved revenue of EUR 78.1 million in the first half of 2014, thereby raising consolidated revenue by EUR 28.2 million compared with EUR 49.9 million in the prior-year period from June 1 to November 30, 2013. Almost half the revenue results from progress made with the project for the construction of a polysilicon factory in Qatar. The centrotherm Group’s total operating performance climbed on the back of the development of revenue to EUR 82.2 million, up from the previous year’s figure of EUR 56.1 million. EBITDA rose to EUR 1.8 million in the first half of the fiscal year 2014, up from EUR -10.8 million the year before. The EBITDA margin climbed to 2.2 % compared with -19.1 %. EBIT, which stood at EUR -0.2 million, almost reached breakeven in the first half of 2014 (previous year: EUR -13.1 million). Compared with a year-earlier loss of EUR 12.4 million, the consolidated net loss was reduced by one third in the period from January 1 to June 30, 2014 and amounted to EUR 8.2 million.
Renewed improvement in the liquidity position
Group liquidity had advanced from EUR 99.8 million as of December 31, 2013 to EUR 108.7 million by the end of the first half of 2014. This positive development in the liquidity position is attributable to stringent working capital management. At the Annual General Meeting of Shareholders on July 8, 2014, the Management Board also recently emphasized that it was paying special attention to maintaining liquidity.
Notable increase in new orders
The centrotherm Group benefited from the market recovery in the capital goods sector that set in at the end of last year, and reinforced its market position as a leading technology and plant supplier with successful sales in Asia. Order intake in the first half of 2014 totaled EUR 61.5 million, more than trebling from the figure of EUR 18.0 million posted in the comparable period from June 1 to November 30, 2013. More than
90 % of orders were accounted for the Photovoltaic & Semiconductor segment. As of June 30, 2014 centrotherm had an order backlog of EUR 217.4 million.
