Centrotherm guides for EUR 120m-150m revenues in 2016

Apr 29, 2016 17:23 CEST by Plamena Tisheva

April 29 – German solar machinery maker Centrotherm Photovoltaics AG (FRA:CTNK) on Thursday said it aimed to achieve revenues of between EUR 120 million (USD 137m) and EUR 150 million in 2016.

The company anticipates accelerating business trends in its Photovoltaics and Semiconductor and Thin Film and Customized Equipment segments, but revenue in the Silicon division is expected to be significantly lower than in 2015.

Centrotherm, which reported preliminary 2015 figures in March, also guided for at least break-even consolidated net result in 2016.

The company said that in the first quarter of 2016 its core Photovoltaics and Semiconductor segment was seeing positive order trends, with EUR 49 million booked in the period, as solar cell manufacturers were making expansion investments.

In 2015, Centrotherm generated consolidated revenue of EUR 139 million, short of its forecast EUR 150 million-200 million, which was attributed to a lack of new business in the Silicon segment and a delay to a large-scale polysilicon factory project in Qatar. It recorded consolidated profit of EUR 7 million, up from EUR 1.2 million in the previous year as one-offs saw it exceed its target for a break-even consolidated net result. Earnings before interest and tax (EBIT) were EUR 19 million, compared to EUR 19.6 million in the previous year.

(EUR 1.0 = USD 1.144)

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