A clear focus on the roofing systems business and successful regional diversification efforts over the last 2-years has enabled Centrosolar to eke-out a small €1.7 million profit for the third quarter. The company posted revenue of €72.9 million, though the prior-year level of €101.7 million is indicative of the overall challenging business environment and lack of demand elasticity.
On a regional basis, Centrosolar said that 74% of revenue had been generated outside of Germany, compared to 64% in the same quarter of 2010. The company noted that it was expanding activities in North America and building-out its the mounting systems product range in the region to support growth.
The company didn’t provide fourth quarter guidance but noted that based on module prices remaining broadly stable it would make further improvement in its operating results, though with first-half year losses reduced to €3.2 million on the third quarter profit, Centrosolar could still return a small loss for the year.
Centrosolar also guided full-year revenue expectation to be around €300 million. However, this is considerably down on last quarter when the company had been optimistic of a revenue target of €330 to €380 million with a positive operating result.