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Centrotherm photovoltaics reports EUR 255.4 million of new orders in Q1 2012 | Europe

Centrotherm photovoltaics reports EUR 255.4 million of new orders in Q1 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."
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Posted by Gloria Llopis | 2012-05-04