Solar cell and module equipment sales dominate centrotherm photovoltaics 2010 results

Facebook
Twitter
LinkedIn
Reddit
Email

In releasing 2010 financial results this week, centrotherm photovoltaics achieved record results, dominated by revenue generation in its Solar Cell & Module segment, while revenue from its Silicon & Wafer segment and Thin Film Module segment declined compared to 2009. Group revenue reached €624.2 million, a 22.6% increase over revenue of €509.1 million in 2009. Solar Cell & Module segment revenue reached €404.5 million, up 68.6% compared to the previous year and represented 64.8% share of total revenue.

EBITDA earnings increased from €58.6 million in 2009 to €101.3 million in 2010. Operating earnings before interest and tax (EBIT) doubled to €75.4 million, compared to €37.2 million in 2009.  Consolidated net income was €51.1 million, up from €28.5 million in the previous year.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Order intake also reached a new milestone, surpassing €1 billion for the first time. New orders increased by 77.8% to €1.049 billion, compared to €590.2 million in 2009.

Despite adjustments to its order book, the total order book position grew to €843.8 million as of the year-end, up from €797.4 million reported for same period in 2009.

In the Silicon & Wafer segment, revenue declined slightly to €201.7 million, compared to €218.7 million in the previous year. Management noted that this was due to a high degree of project realization and a low level of new shipments. The company noted that the segment had successfully commissioned and seen production of first silicon at polysilicon factories in Taiwan, China and Europe during the year.

The Thin Film Module segment, which focuses on CIGS technology, suffered the biggest decline in sales. Revenue fell from €50.6 million in 2009 to €18 million in 2010. The segment made a loss of €37.4 million compared to a loss of €11.9 million in the previous year.

The real success in 2010 was its Solar Cell & Module segment, marked by high shipment volumes for single equipment items totalling 435 single equipment items. Segment revenue reached €404.5 million, an increase of 68.6% compared to the previous year and responsible for a 64.8% share of total revenue for the company.

2011 guidance

Centrotherm photovoltaics management guided that due to the order intake levels achieved it expected that revenue would continue to grow in 2011, reaching within the range of  €690 million – €710 million.

“We have established a globally outstanding market position in the photovoltaic sector with our technology and production systems. We aim to exploit our business success to continue to invest heavily in R&D in order to thereby extend this technology lead, and to enable our shareholders to participate in the company's success at the same time. As a consequence, we see ourselves as excellently equipped for 2011 and the upcoming years”, commented Robert M. Hartung, CEO and Management Board Chairman of centrotherm photovoltaic AG.
 

Read Next

November 7, 2024
New South Wales, Australia, has secured the highest allocation of energy generation in the upcoming Capacity Investment Scheme (CIS) tender, standing at 7.1GW.
November 7, 2024
Turkey has launched its latest solar tender, seeking 800MW of capacity to be split between six projects in six regions across the country.
November 7, 2024
The Indian states of Rajasthan and Gujarat need a “concerted effort” to maintain their central roles in the country’s energy transition, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
November 7, 2024
The China Energy International Engineering Co. (Energy China) is about to embark on a milestone 1GW solar project in Iraq.
November 7, 2024
Freyr Battery has agreed to acquire a 5GW module manufacturing facility in the US state of Texas from Trina Solar.
Premium
November 7, 2024
PV Talk: Kane Thornton, CEO of Australia’s Clean Energy Council, tells George Heynes about the opportunities for solar PV in Australia's bid to become a renewable energy 'super power'.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 12, 2024
San Diego, USA
Solar Media Events, Upcoming Webinars
November 13, 2024
4pm GMT / 8am PST
Solar Media Events
November 19, 2024
Philadelphia, USA
Solar Media Events
November 20, 2024
Zhuhai, China
Solar Media Events
November 21, 2024
London, UK