Centrosolar: market outlook positive; competition intensifying

The German company says it posted record levels of revenue and earnings in the past financial year. Having achieved a revenue of €403.4 million (€308.7 million in 2009), Centrosolar exceeded its original targets of between €340 million to €370 million.

Furthermore, its export revenue share increased from 49 percent to 59.4 percent, and its operating result (EBIT) hit €26.6 million, which, states Centrosolar, is almost four times the previous year’s €6.9 million figure.

The company’s earnings after taxes were particularly impressive in 2010, with it having earned €15.8 million, compared to €-29.7 million in 2009.

As a result of the positive progress, the company expects to see further revenue growth of between €420 million to €450 million, and an EBIT margin of four to six percent in 2011.

It adds that new growth opportunities are arising in European and North American markets outside of Germany. However, it believes that success will de dependent on the PV support available in the different markets. It goes on to say that the competitive environment is "generally becoming more intense".

In a statement, the company says: "Centrosolar is (…) able to set itself apart from the competition by focusing on roof systems and being able to offer patented key components such as its anti-reflective solar glass.

"In concluding the production agreement with TSMC, the company has opened up an additional sales channel that it will be readily able to serve following the expansion of manufacturing operations at Wismar to 350 megawatts peak in the third quarter of 2011, alongside meeting growing demand from the worldwide sales organization."