centrotherm photovoltaics expects 40%-plus revenue growth in 2009

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One of the largest diversified equipment and service providers to the photovoltaics industry, centrotherm photovoltaics AG, posted an increase in revenue for 2008 of over 125% to reach €374.7 million compared to €166.2 million in 2007. Order backlog stands at €990.2 million at the end of 2008, of which the company expects to convert 60% into revenue this year. Total revenue guidance was set between €500 million and €550 million for 2009, potential growth of over 40% year-on-year.

“We achieved all the growth objectives we had set ourselves for 2008,” commented Robert M. Hartung, CEO of centrotherm photovoltaics AG. “However, there are further reasons why last year was a successful one for us, despite the global financial and economic crisis. The acquisition of some specialist providers allowed us to consistently implement our strategy of integrating key equipment and technology into the Group, which secures us access to key technologies, and helps us recruit globally recognized engineering and technology experts.”

The sales success was partially attributed to the company’s expansion overseas, establishing service and sales locations in Taiwan, the USA and Italy during 2008.

centrotherm photovoltaics said that in the first three months of the year, it had already signed orders from Asia and Europe with a total volume of around €390 million.

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