Thin film and c-Si PV equipment supplier Roth & Rau AG has reported sales of €272 million for 2008, an increase of 86.1% over sales of €142 million in 2007. Growth was attributed to both product and service expansion due in part to key acquisitions undertaken that included AIS Automation and TECNOFIMES. The company now claims that its own products cover about 65% of the process steps in the value chain, compared to 45% previously.
“The acquisitions marked important strategic milestones in 2008. They helped us expand our market leadership and put us in the ideal position to benefit from the long-term growth of the photovoltaics market,” noted Carsten Bovenschen, Roth & Rau CFO.
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Roth & Rau noted that it now has a stronger international presence with operations established in USA, China, Korea, Singapore and India. This helped boost overseas sales from 59% of total sales in 2007, to 86.9% in 2008.
The company said that new orders for 2009, received up to March 25, reached €44.7 million with €40 million expected to be converted to revenue this year.
However, continued problems for customers gaining access to capital will temper sales in 2009, compared to last year.
“We project sales €245 to 270 million and a further increase in profitability for 2009. In addition, we will persist in our efforts to expand our market position and win additional market share,” commented Bovenschen.