centrotherm reports high new order intake and achieves positive EBITDA in the first half of 2017

The centrotherm Group won orders worth a total of EUR 106.8 million in the first half of 2017, significantly exceeding the previous year's level of EUR 89.5 million during the January 1 to June 30, 2016 period. Demand for centrotherm's PERC solar cell manufacturing solutions and for its FHR production equipment for modern coating technologies exerted a particularly positive impact on Group new order intake. The order book position amounted to EUR 167.3 million as of June 30, 2017. Moreover, centrotherm subsidiary FHR Anlagenbau GmbH (Thin Film & Customized Equipment segment) received a large-scale order after the reporting date from Manz AG to supply inline coating equipment to manufacture highly efficient CIGS thin film modules.

The revenue of the centrotherm Group amounted to a total of EUR 52.6 million in the first six months of the 2017 financial year, with the leading technology and equipment supplier thereby reporting new order intake significantly above its level of sales revenue and reaching a book-to-bill ratio of 2.0. The renewed high level of total operating performance of EUR 73.5 million especially reflects the significant utilization of production capacity at the Blaubeuren site (prior-year period: EUR 75.9 million). Revenue totaling EUR 33.6 million was attributable to the Photovoltaics & Semiconductor segment, including also the final acceptance of a turnkey production line in India. Revenue in the Thin Film & Customized Equipment segment rose from EUR 7.6 million in the previous-year period to EUR 11.7 million. Revenue totaling EUR 7.3 million was generated in the Silicon segment (prior-year period: EUR 12.3 million).

Earnings before interest, tax, depreciation and amortization (EBITDA) increased to EUR 0.6 million (previous-year period: EUR 0.1 million). In the first half of 2017, the operating results from the Photovoltaics & Semiconductor and Thin Film & Customized Equipment segments were positive again in the amount of EUR 1.3 million and EUR 1.0 million respectively. EBITDA in the Silicon segment improved from EUR -2.8 million to EUR -1.7 million thanks to progress made with restructuring measures at the subsidiary SiTec GmbH. At Group level, EBIT also reported an improvement to EUR -0.9 million, compared with EUR -1.7 million in the previous-year period. The consolidated result after tax stood at EUR -2.4 million after EUR -2.1 million in the prior-year period.

Compared with the December 31, 2016 reporting date, cash and cash equivalents increased by EUR 11.2 million, from EUR 40.6 million to EUR 51.8 million. Equity amounted to a total of EUR 41.7 million as of June 30, 2017, equivalent to a 19.7 % equity ratio.

Note: The German version of our 2017 half-year report can be downloaded from our website, within the Investor Relations area.

About centrotherm international AG

Thermal production solutions and coating technologies are among centrotherm's core competencies. For more than 70 years we have been developing and implementing production concepts for a constantly growing international customer base. In addition to growth sectors such as the semiconductor and microelectronics industry, as well as photovoltaics, our innovative solutions are also being applied in new future-oriented fields such as fiber or battery production.

As a leading, globally active technology group, we work closely with partners from industry and research. We improve existing production concepts and set new trends. In this way, we generate valuable competitive advantages for our customers. More than 700 employees worldwide are working to shape the future - GREEN | SMART | EFFICIENT.

centrotherm international AG
Württemberger Str. 31
89143 Blaubeuren
Internet: www.centrotherm.de

German Securities Identification Number (WKN): A1TNMM (bearer shares); A1TNMN (unlisted shares from the non-cash capital increase)
ISIN: DE000A1TNMM9 (bearer shares); DE000A1TNMN7 (unlisted shares from the non-cash capital increase)
Inclusion: Basic Board, Frankfurt Stock Exchange
Corporate domicile: Germany