Roth & Rau posts 2011 revenue of €208 million; plans faster restructuring and job losses

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

A significant decline in sales and new orders, coupled to higher annual losses in 2011, compared to 2010 have forced Roth & Rau to implement further company-wide restructuring and reduce its global headcount. Preliminary sales for 2011 reached €208 million, down from €285 million in 2010.

Roth & Rau reported new orders net of cancellations amounted to €153 million, compared to €537 million in the prior year. Order backlog at the end of 2011, stood at €141 million, compared to €336.5 million in the prior year period.

EBIT was negative €107 million compared to negative €27.3 million in the prior year. One-off items were said to have contributed €93 million to the losses in 2011. Cash and cash equivalents stood at €30 million at the end of the year, down from €108 million in 2010.

Although the equipment supplier had undertaking a range of restructuring projects during 2011, management noted that due to the circumstances, further restructuring effort would be implemented and at a faster pace.

Workforce reduction

Approximately 200 jobs will go, according to the latest restructuring efforts. At its headquarters in Hohenstein-Ernstthal, Germany approximately 63 positions will be lost or approximately 15% of the workforce at that location.

The remaining job losses would come from a major rationalisation of its subsidiaries. Only 12 companies will remain within the Group, down from the current 26. In Germany, the complexity of the group structure is to be further reduced by merging companies.

Regional customer support operations in Asia will be amalgamated within Meyer Burger’s sales and service companies within the region, though no job losses are expected as part of the move.

However, the company noted that loss-making subsidiaries, which included the production company in Italy and the sales companies in Australia and the USA, would be shut-down.

Roth & Rau said that the restructuring would be implemented in full by the end of the first half of 2012, with expected annual savings of €18 million. The one-off restructuring expenses are expected to result in a €3 million charge on earnings in 2012.

1 December 2021
Join this virtual conference on 1-2 December 2021 for expert presentations covering PV Module Technology, Supply & Site Optimisation for Utility-Scale. Delegates can access streamed presentations, session recordings and chat/messaging tools to connect with fellow delegates and speakers. Speakers include leading developers, manufacturers, testing and research institutes, including: NREL, Silicon Ranch, Sonnedix, Heliene, Powertis, LONGi Solar, JinkoSolar, PVEL, Risen Energy, Seraphim, STS, Trina Solar, Eternalsun Spire, QEERI, Fraunhofer, Estuary Capital Partners and VDE
2 December 2021
Intersolar is the world’s leading exhibition & conference series for the solar industry. As part of this event series, Intersolar India in Mumbai is India’s most pioneering exhibition and conference for India’s solar industry. It takes place annually and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. Since 2019, Intersolar India is held under the umbrella of The smarter E India – India’s innovation hub for the new energy world.
9 December 2021
The Smart Energy Council is hosting Australia’s second Virtual Smart Energy Conference and Exhibition on Thursday, 9 December 2021. This event will show that the industry powers on despite COVID-19 and we are standing together undeterred in spirit. Bringing our global community together using the latest technology.
13 January 2022
Intersolar North America and Energy Storage North America “Come Together” for the first time in Long Beach, CA—connecting installers, developers, utilities, technology providers, policy makers, and key stakeholders from around the world to advance the clean energy future. With best-in-class conference programming, integrated exhibits and pavilions, and the live Solar Games installer competition, #isnaesna21 will showcase the industry trends, innovative solutions, and emerging talent transforming the solar, energy storage, and e-mobility markets. Register today to redeem our exclusive offer for PV Tech readers—free expo hall or 20% off full conference pass.
1 February 2022
As Solar Finance & Investment enters its ninth year, we sit on the cusp of a new power market with solar at its heart. The 2022 edition of the event will build on our years of expertise and relationships to bring investors and lenders together with top developers. Connect with leaders in the field and use exclusive insights to drive investment and development decisions for the future. Meet new and existing project partners at the largest gathering of European solar investors and lenders.
23 February 2022
Held annually since 2016, the Energy Storage Summit Europe is the place to be for senior stakeholders in the European storage industry. Designed to accelerate deployment of storage, we examine evolving chemistries, business models, project design, revenue stacks and use cases for storage. The 2022 edition will include exclusive content around longer duration solutions, energy strategies for wide-scale deployment of EVs and "EnTech", the event which sits at the intersection of digitisation, decentralisation and decarbonation of the power system. Come to meet TSOs, DSOs, Utilities, Developers, Investors and Lenders and leave with new contacts, partners and a wealth of information.

Read Next

November 26, 2021
Renewables developer and asset owner Grasshopper Energy has signed an agreement that could support the development of up to 1GW of solar in Romania by 2030.
November 26, 2021
Portugal has launched its latest solar auction that is set to allocate 262MW of floating PV to be installed at seven dams across the country.
November 26, 2021
The European Commission (EC) has approved a €2.27 billion (US$2.56 billion) Greek scheme to support 4.2GW of installed renewables capacity after assessing it in the context of EU state aid rules
PV Tech Premium
November 26, 2021
Average market prices for 182mm solar wafers fell by nearly 7% this week, falling to levels not seen in almost two months, however other material and component costs have remained high.
PV Tech Premium
November 26, 2021
Faced with the threat of curtailment as more renewables enter the grid, utility-scale solar developers are heightening their focus on hybrid PV-storage projects to take advantage of demand for flexibility services and falling battery costs.
November 25, 2021
Assurance and risk management provider DNV is acquiring cyber security firm Applied Risk as it looks to build a security practice focused on defending industrial assets against emergent cyber threats.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
December 1, 2021
Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal