Centrosolar is the latest PV company to slash its 2011 revenue forecast, reducing its guidance for the year from €420 million–€450 million to €330 million–€380 million (though remaining EBIT positive). The German firm said the main reason for the adjustment is reduced market pricing, which has fallen more sharply than anticipated.
The company also issued provisional, unaudited revenue figures for the first half of 2011, which amount to €150.5 million, with EBIT at minus €4.9 million.
Centrolsolar also said that losses incurred in the start-up of its US and Canadian operations totalled €3 million in the first half. The launch of new mounting systems products also weighed on earnings.
Although the core business in Europe remains profitable, as a result of the price-driven reduction in revenues, the European business was unable to cover the costs of expansion as planned, according to the company.
Centrosolar will publish its first-half report on Aug. 12.