centrotherm photovoltaics catches equipment order wave from Asia: order intake €707.7 million

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Describing business conditions as an ‘ongoing order boom in the solar sector,’ centrotherm photovoltaics posted revenue of €458.4 million for the first nine months of this year, a 22.3% increase compared with the same period a year ago. The company reported a total inflow of €707.7 million of new orders, compared with the prior-year period of €472.1 million. However, revenue fell in its thin film module segment to only €11.9 million in the period. 

“With these solid figures, we are underscoring our attractive business model once again,” commented Thomas Riegler, CFO of centrotherm photovoltaics. “Over the past nine months, we have benefited from an outright order boom, particularly in the Solar Cell & Module segment, and we have further expanded our market share. As a market leader that has committed itself to the permanent further development of highly efficient production systems for polysilicon, solar cells and modules, we remain on a profitable growth path, and we look with confidence to the months ahead.”

centrotherm photovoltaics also reported that its solar cell and module segment had achieved the highest order intake in the company's history at €311.1 million in the third quarter of 2010. A new revenue record was also achieved, reaching €295.2 million in the first nine months of this year, compared to €190.4 million in the prior-year period. The operating profit increased by almost 50% to €37.4 million in the first nine months of 2010.

In its silicon and wafer segment, revenue was up by 11.0% to €151.3 million with an operating profit (EBIT) of €18.9 million.

“Asian customers are expanding along the photovoltaic value chain, and in doing so are focusing their investments on high-efficiency technology, in order to realize economies of scale and declining manufacturing costs,” noted Robert M. Hartung, CEO.

The order backlog stood at €747.7 million as of September 30, down from the prior-year period of €922.4 million. The company has since invested in production capacity expansion and a workforce increase to meet demand, reducing lead times on equipment shipments.

Hartung confirmed the revenue forecasts for the year at between €580 million – €600 million.

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