Inline with preliminary results, issued in mid-July, Centrosolar posted revenue of €150.5 million, compared with the prior year period of €209.2 million. The very weak demand seen in the second quarter showed on the results as sales were €79.3 million, compared to €124.2 million in same period of 2010.
Falling prices combined with the costs of expansion in North America and costs of expanding its mounting systems product range, led to a first-half operating loss of €4.9 million, compared with a positive €21.1 million in the first half of 2010. EBIT loss for the second quarter was €5.2 million compared with a positive €12.9 million in the previous year.
Falling cell prices were said to have a positive impact on earnings due to its flexible cell purchasing strategy, while compliance with EU content rules in Italy have led to increased interest in its modules.