EANS-Adhoc: centrotherm photovoltaics AG /

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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3-month report

04.05.2012

centrotherm photovoltaics reports EUR 255.4 million of new orders in
Q1 2012 in difficult market environment

– Group books major order from Algeria’s Sonelgaz
– Revenue at EUR 82.5 million
– Loss before interest and tax of EUR 42.9 million

Blaubeuren, May 4, 2012 – In a difficult market environment,
centrotherm photovoltaics AG reports EUR 255.4 million of new order
intake in the first quarter of 2012 (prior-year period: EUR 224.3
million). Following a related advance payment, this new order intake
figure now includes the EUR 227.1 million order awarded by Sonelgaz
to construct a fully integrated solar module factory in Algeria. The
sector and financing situation remains tense, and continues to be
reflected in business trends. The Group generated EUR 82.5 million of
revenue in the first three months of this year (previous-year period:
EUR 189.3 million). The Group reported a EUR 42.9 million operating
loss at the earnings before interest and tax (EBIT) level (previous
year: EUR 17.7 million profit). The order book position amounted to
EUR 508.2 million as of March 31, 2012 (December 31, 2011: EUR 423.0
million).

„The results reflect the market turbulence that we also have to
contend with,“ commented Dr. Thomas Riegler, CFO of centrotherm
photovoltaics AG. „The sector is experiencing its most severe crisis
to date, and consolidation is fully underway. For this reason, we are
pushing full steam ahead with the implementation of our ct focus
restructuring program, which comprises extensive measures to secure
earnings and liquidity. To return centrotherm to the path of
sustainable profitability our declared objective is a streamlined and
efficient organizational structure, and a strategic orientation to
our technological core competencies and products especially in the
Solar cell & module segment, and in the semiconductor area. We are
assuming that there will not be a significant improvement to the
current situation in the first half of 2012.“

Segment trends In its Silicon & Wafer segment, centrotherm
photovoltaics achieved revenue of EUR 37.2 million with the sale of
silicon production technology and systems (previous-year period: EUR
29.3 million). The segment reported a EUR 0.2 million operating loss
at the earnings before interest and tax (EBIT) level (previous-year
period: EUR 2.2 million profit). The segment’s order book position
stood at EUR 195.5 million as of March 31, 2012 (December 31, 2011:
EUR 176.1 million). During the period under review, the risk
increased that litigation entailing a triple-digit amount in millions
of euros might arise relating to a major project. No further
provisions have been formed to date since the Management Board, on
the basis of its current assessment, is assuming that the company
will incur no larger related charges due to contractual agreements.

In its Solar Cell & Module segment, revenue amounted to EUR 37.2
million (prior-year period: EUR 154.9 million). The segment reported
a EUR 32.2 million loss at the EBIT level (previous-year period: EUR
19.3 million profit). This segment’s order book stood at EUR 306.3
million at the end of the first quarter (December 31, 2011: EUR 234.6
million).

The Thin Film Module segment generated EUR 8.1 million of revenue
(previous-year period: EUR 5.1 million). The segment reported a EUR
10.5 million loss at the EBIT level (prior-year period: EUR 3.8
million loss). The Thin Film Module segment reported an order book
position of EUR 6.4 million (December 31, 2011: EUR 12.3 million).

Outlook „We are not assuming a significant improvement to the current
situation in the first half of 2012,“ commented CFO Mr. Riegler. „We
nevertheless also regard continued cost pressure in the photovoltaic
industry as an opportunity because our customers are focusing on
highly efficient technologies and production systems that deliver
competitive advantages. We also identify medium- to long-term
potentials from photovoltaics due to global energy demand growth and
the energy revolution that has already started.“

Further inquiry note:
Saskia Feil
Tel: +49 (0) 7344 918-8890
saskia.feil@centrotherm.de

end of announcement euro adhoc
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issuer: centrotherm photovoltaics AG
Johannes-Schmid-Str. 8
D-89143 Blaubeuren
phone: +49 (0) 7344 91880
mail: info@centrotherm.de
WWW: http://www.centrotherm.de
sector: Energy
ISIN: DE000A0JMMN2
indexes: TecDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English

Quelle: http://www.presseportal.de/pm/68053/2246633/eans-adhoc-centrotherm-photovoltaics-ag/api