centrotherm photovoltaics AG (Blaubeuren,
Germany) increased sales in its core segment Photovoltaics &
Semiconductor from EUR 38.4 million to EUR 42.0 million in the first
half of 2016.
Total operating revenue in this segment rose
in the same period by 27 % to EUR 55.9 million. Earnings before
interest and taxes (EBIT) were once again positive, standing at EUR 1.1
million.
Photovoltaics and semiconductor orders almost trebled
The cost reduction and efficiency program launched
in 2014 together with the excellent order book had an effect on
operating earnings in the first half of 2016, the company emphasizes.
As a leading technology and systems supplier,
centrotherm was able to almost treble its order intake in its core
segment compared with the same period in the previous year. New orders
totaling EUR 85.4 million were received from the photovoltaics and
semiconductor industry (same period in previous year: EUR 29.5 million).
In the Thin Film & Customized Equipment segment,
sales rose marginally to EUR 7.6 million following EUR 7.5 million in
the same period in the previous year. In this segment, too, the
centrotherm Group succeeded in improving its EBIT performance slightly
from EUR -0.5 million to TEUR 84.
Lower revenues in the Silicon segment
Revenues in the Silicon segment were, as expected,
lower than in the comparative period due to the progress of construction
in the major project in Qatar.
Sales in the first six months of 2016 amounted to
EUR 12.3 million following EUR 40.1 million in the comparative period.
EBIT was significantly below the figure for the previous year, standing
at EUR -2.9 million.
However, the figure for the previous year benefited
from the one-time effect of billing a customer project amounting to EUR
8.2 million. Restructuring measures were initiated in the first half of
2016 at the subsidiary SiTec which operates in the Silicon segment, and
these have already been partially completed.
The strategic focus of the company from Augsburg
continues to be on fulfilling the major contract in connection with the
construction of a polysilicon factory in Qatar.
At a consolidated level, the growth seen in the
Photovoltaics & Semiconductor and the Thin Film & Customized
Equipment segments was not able to make up for the half-year results in
the Silicon segment. Consolidated sales in the first half of 2016,
therefore, fell to EUR 61.9 million following EUR 86.0 million in the
same period in the previous year.
Total operating revenue for the centrotherm
photovoltaics Group amounted to EUR 75.9 million following EUR 91.7
million in the comparative period. Group EBIT in the first half of 2016
stood at EUR -1.7 million after EUR 10.6 million in the comparative
period. Consolidated earnings amounted to EUR -2.1 mil-lion following
EUR 6.7 million in the comparative period in the previous year.
New order intake; Order book increased to EUR 142.6 million
In the first six months of the 2016 financial year,
centrotherm was able to significantly increase its order intake to EUR
89.5 million compared with EUR 46.6 million in the same period in the
previous year. The Group's order book as at June 30, 2016 had increased
to EUR 142.6 million compared with EUR 113.5 million as at December 31,
2015.
Unaltered outlook for the current 2016 financial year
The Management Board is confident that the 2016
forecast that it issued in the 2015 annual report can be achieved. The
revenue target for the centrotherm Group lies between EUR 120 million
and EUR 150 million.
New order intake during the first six months of 2016
in the Photovoltaics & Semiconductor segment will make a
significant contribution to attaining this goal.
In the Silicon segment, the revenue expected for
2016 lies significantly below that of 2015. This is due to the exclusive
strategic focus on the large-scale project in Qatar and its related
revenue reduction, in turn reflecting the progress we have achieved with
its construction. Overall, the Management Board anticipates at least
breakeven at the consolidated net result level. The company continues to
aim to achieve the latter through consistent efficiency enhancement and
cost structure optimization.
source:http://www.solarserver.com
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