centrotherm photovoltaics achieves substantial increase in sales and earnings in 2007

Blaubeuren, 25.02.2008

  • Sales reach EUR 166.2 million (previous year: EUR 108.5 million)
  • EBIT reaches EUR 21.1 million (previous year: EUR 11.3 million)
  • Analysts’ consensus estimates at time of flotation exceeded

centrotherm photovoltaics AG presents provisional figures for financial year 2007: The technology and service provider to manufacturers of solar cells and solar silicon expects recorded sales to come in at EUR 166.2 million. That equates to an increase of 53 percent over the year before (EUR 108.5 million pro-forma). Total output rose to around EUR 168.7 million (previous year: EUR 107.8 million pro-forma). The operating result (EBIT) was virtually doubled to some EUR 21.1 million (previous year: EUR 11.3 million pro-forma). The EBIT margin – based on total output – is expected to be 12.5 percent (previous year: 10.5 percent pro-forma).

With these figures the company based in Blaubeuren in Baden-Württemberg has substantially exceeded the analysts’ consensus forecast for sales (EUR 142 million) and EBIT (EUR 14 million) at the time of its flotation.

– End of the ad hoc release –

 

Additional Information:

"2007 was an excellent year for us in which we achieved some important strategic objectives," commented Oliver Albrecht, CFO of centrotherm photovoltaics AG. "Of course I would like in particular to emphasize our successful IPO in October 2007. This injection of fresh capital enables us to consistently pursue our strategy of expansion in our solar cells and solar silicon business segments. By raising our public profile we have been able to consolidate our position as an attractive employer and recruit some top technologists. Particularly in our new segments of thin film and silicon technology, this is a major factor in our success."

As announced at the time of flotation, the worldwide development of the company network and the intensification of research and development activities are among the declared aims of centrotherm photovoltaics. The company has already made progress towards these objectives: In addition to setting up some new subsidiaries, another research and development center is currently being created at company headquarters in Blaubeuren with the inclusion of a thin film laboratory and a pilot production facility. The center will use the latest technology and equipment to carry out development and testing in order to further increase the efficiency of the centrotherm photovoltaics production lines and enhance the company’s technological expertise.

Oliver Albrecht continued: "Our annual results prove the success of our strategy and show that we are in a position to realize the potential of the worldwide growth market for photovoltaics."

At the time the final figures are announced and the annual report for 2007 is published on March 31, 2008, the company will also release a forecast for the current year.

About centrotherm photovoltaics AG

centrotherm photovoltaics AG is a leading international provider of technology and services for the production of solar cells and solar silicon. The broad range of products ranges from key equipment and turnkey production lines through to complete solar factories. Business operations currently focus on the growth market of Asia. The international customer base includes well-known companies from the solar sector. The company, which is based in Blaubeuren near Ulm, currently has more than 230 employees.

centrotherm photovoltaics AG

Johannes-Schmid-Straße 8
89143 Blaubeuren
www.centrotherm.de

ISIN: DE000A0JMMN2
WKN: A0JMMN
Listing: Regulated Market/Prime Standard, Frankfurt Securities Exchange
Registered Office: Germany

Company contact:

Saskia Schultz-Ebert
Senior Manager Investor Relations
T +49 (0)7344 918-8890
E-Mail

Press contact:

Grit Pauli
HOSCHKE & CONSORTEN Public Relations GmbH
T +49 (0)40 3690 50-31
E-Mail