centrotherm’s preliminary figures for first 3 quarters lead company to adjust outlook for full 2011

Financials

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centrotherm photovoltaics has released its preliminary financial figures with revenue being finalized at €635.7 million for the first nine months of 2011. Operating earnings (EBIT) reached €25.2 million correlating with a 4% EBIT margin. The company noted that from these figures, €65.3 million in revenue was generated by its silicon and wafer unit with an EBIT of €-61.1 million.

centrotherm’s solar cell and module division reported revenues of €546.5 million and an EBIT of €102.3 million while its thin-film segment collected €23.9 million in revenue with €-16 million in EBIT. The company additionally advised that its new order intake for the first three quarters of 2011 hold a provisional figure of €410.7 million.

centrotherm’s management board advised that it would be adjusting its full year forecast due to the fragile sector environment. The board is now estimating that higher revenue and a slightly positive EBIT margin will be attained for the 2011 financial year.

The board is assuming that revenue for the full-year will more than likely be higher than previously forecasted due to its strong order book position and good business trends during the first half of the year. centrotherm did note, however, that its silicon and wafer division has been feeling definite pressure, especially in its operating earnings, which the company partially attributes to the “strained sector situation, particularly in the Asian region.”

The company will publish its full interim report on November 10.

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