Centrosolar has announced record-breaking revenue and earnings figures for the 2010 financial year. The German firm posted revenue of €403.4 million, which not only dwarfed the €308.7 million it brought in last year but also came in well above original estimates of €340 million to €370 million.
Last year also saw Centrosolar’s export revenue share increase from 49% to 59.4%, a rise that will have given added impetus to its ambition of becoming a truly global player in 2011; its operating result (EBIT) saw a near fourfold rise to €26.6 million.
The company’s post-tax earnings of €15.8 million were similarly impressive, and as a result of these healthy figures Centrosolar expects to see further revenue growth of between €420 million to €450 million, and an EBIT margin of 4% to 6% in 2011.
“Centrosolar is moreover able to set itself apart from the competition by focusing on roof systems and being able to offer patented key components such as its anti-reflective solar glass,” a statement from the company said. “In concluding the production agreement with TSMC, the company has opened up an additional sales channel that it will be readily able to serve following the expansion of manufacturing operations at Wismar to 350MWp in the third quarter of 2011, alongside meeting growing demand from the worldwide sales organisation.