Centrosolar reports positive Q3 EBIT, but reduces full year targets

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Centrosolar says demand for solar systems did not recover in Q3 as predicted, despite attractive rates of return for end customers. Consequently, at €72 million, its revenues failed to meet expectations. They also represented a decrease of €7.3 million from Q2 2011.

According to the company’s preliminary results, however, its Q3 EBIT was positive. Centrosolar did not release any figures, though it did say it has helped to reduce the losses of €4.9 million incurred in the first half of the year.

Overall, the company has revised its full year guidance downwards, from an expected revenue of between €330 million and €380 million, to €300 million; a positive 2011 EBIT "reamins achievable".