The proceeds of the sale amount to 6.3 million and exceed the carrying amount of the investment, which is accounted for using the equity method of 4.6 million at June 20 this year. This book profit, together with a percentage of the first-half result of the Centrosolar investment that is allocable to Centrotec, will make a marginally negative overall contribution to earnings per share for the year as a whole, though Centrotec will receive liquid funds equivalent to the sales proceeds.
Centrotec underwent a restructuring in the fourth quarter of last year and this led to the winding up of various peripheral activities in the photovoltaic sector. Centrotec's sole link to the sector was its interest in Centrosolar.
Centrotec will now focus on its core activities like heating, climate control, ventilation as well as solar thermal through its subsidiaries Wolf Heiztechnik, Brink Climate Systems and Ned Air.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.