centrotherm photovoltaics AG has confirmed the preliminary results that it announced on October 28. The globally leading international technology and equipment supplier for the photovoltaics sector grew its consolidated revenue by 38.7 percent to reach EUR 635.7 million in the first nine months of 2011 (prioryear period: EUR 458.4 million), thereby already exceeding its reported 2010 full-year revenue in the first nine months of this year. Operating earnings (EBIT) were reported at EUR 25.2 million (previous-year period: EUR 54.2 million), corresponding to a 4.0 percent EBIT margin (previous-year period: 11.8 percent). Consolidated net income fell to EUR 16.6 million, compared with EUR 37.4 million in the prior-year period, and earnings per share stood at EUR 0.78 (previous-year period: EUR 1.76).
“Our very good order book position in the first half of the year allowed us to report significant revenue growth. However, the difficult market environment, the rising economic risks around the world, and uncertainties on financial markets have effects on our business and earnings trends,” noted Dr. Thomas Riegler, CFO of centrotherm photovoltaics AG. “We have positioned ourselves well to meet the challenges with measures and our flexible production model that we have implemented in good time. We anticipate that the solar market will continue to report sustainable growth despite its current weakness.”
Segment trend reflects strong core business The Solar Cell & Module segment retained its growth dynamism in the first nine months of the current financial year, hitting a new revenue record with growth of 85.1 percent to EUR 546.5 million (previous-year period: EUR 295.2 million). Operating earnings (EBIT) underwent a pronounced increase of 70.2 percent to EUR 102.3 million (prior-year period: EUR 60.1 million), reflecting an 18.7 percent EBIT margin (prior-year period: 20.4 percent).
