Demand for residential PV systems in the second-half of 2009 enabled Centrosolar to post record revenue and earnings figures in the fourth quarter and helped restore revenue for the year of €308.7 million, compared to €332.6 million in 2008. Approximately 50% of sales came from outside Germany and the company expects revenue growth of between 10 and 20% in 2010. Module production at its new plant in Wismar, Germany will expand production from 110MW in 2009 to 150MW in 2010. Centrosolar claimed that it success in the small roof-integrated systems market in France has led the company to become the market leader in the country.
The Solar Integrated Systems segment posted revenue growth of 26 % compared with the prior-year quarter while its Solar Key Components segment saw revenue rise slightly to €28.7 million in the fourth quarter, compared with €27.8 million in the previous year.
Centrosolar guided revenue growth of 10 to 20 % in 2010, with revenue reaching between €340 to €370 million, and a doubling of EBIT to between €14 and €16 million.
The company noted that it expects a much slower pattern of price movements for modules in 2010.