centrotherm photovoltaics Shareholders' General Meeting: Management Board confirms 2009 forecast
- Presence of around 75 percent of issued share capital
- Shareholders vote in favor of all agenda items with a large majority
- Management Board confirms 2009 revenue and earnings forecast
The shareholders of centrotherm photovoltaics clearly approved the management's corporate strategy at the Ordinary Shareholders' General Meeting held on June 30. Shareholders voted in favor of all agenda items with a large majority. The Management and Supervisory boards of the technology and equipment provider for the manufacturing of solar silicon, crystalline solar cells and CIGS thin film modules were discharged with respect to the 2008 financial year with a vote in excess of 99 percent.
Despite the financial and economic crisis, centrotherm photovoltaics achieved significant revenue and earnings growth, and attained its growth objectives in the 2008 financial year. The Management Board also consistently and successfully implemented its strategy of integrating key equipment and technology within its strategic business areas of solar cells, silicon and thin film in 2008. As a result of the acquisitions that it has realized, the company is bundling its expertise for the creation of fully integrated solar factories under one roof. CFO Oliver M. Albrecht re-emphasized the revenue forecast for 2009 of EUR 500 million to EUR 550 million, and a further increase in EBITDA: "We regard the high order backlog and the positive trends in the first months of the financial year as a sound basis."
Shareholders voted with a large majority in favor of an authorization to purchase and utilize own shares, as well as the creation of new approved capital. The authorization to issue option and convertible bonds (debt securities) was also approved with a large majority.
"Shareholders have approved our strategy," commented Robert M. Hartung, CEO of centrotherm photovoltaics. "Although the financial crisis presents us with particular challenges, we have encountered them well to date thanks to our strong market position and solid capital position."
About centrotherm photovoltaics AG
centrotherm photovoltaics AG, which is based at Blaubeuren, is one of the world's leading technology and equipment providers for the manufacturing of solar silicon, crystalline solar cells and CIGS thin film modules. The broad product spectrum comprises key equipment and turnkey production lines for crystalline and thin-film solar cells. The product range is supplemented by reactors and converters for the manufacturing of solar silicon. centrotherm photovoltaics guarantees its customers important performance parameters such as production capacity, degree of efficacy, and completion deadlines for turnkey lines. The Group employs around 1,100 staff members, and operates in Europe, Asia and the USA. centrotherm photovoltaics achieved revenue in the 2008 financial year of EUR 375 million, EBIT of EUR 56 million*, and is listed in the TecDax of the Frankfurt Securities Exchange. (*before purchase price allocations)
centrotherm photovoltaics AG
Admitted to the Regulated Market/Prime Standard, Frankfurt Securities Exchange
Corporate domicile: Germany
Senior Manager Investor Relations
Tel: +49 7344 918-8890
Christina Siebels, Grit Pauli
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 3690 50-58 /-31