At 55.5 million, Q3 revenue was significantly down on the 119.9 million reaped in Q2 2012, and the 72.9 million seen in Q3 2011. The decrease was attributed to losses in its solar glass division totaling 7.8 million and project sales revenue of just 9 million.
Its core business, however the production and sale of photovoltaic modules, systems and components for roof systems was said to have performed constantly and thus, falling module prices were said to have been cancelled out by higher sales, which increased 29% between Q3 2012 and Q3 2011.
The company declined to divulge exactly how many sales had been made in Q3. In Q2, it sold 38.6 MWp worth of modules and systems, which at the time was up 41% sequentially and 5% annually.
Centrosolars consolidated result also took a tumble, from 4.2 million in Q3 2011, to -4.2 million this year. "This development can again be largely attributed to the reduced earnings of Centrosolar Glas and the project income booked in the prior-year period, which together account for some EUR 4.8 million of the difference from last year," it said in a statement released.
The company did not provide its Q2 consolidated results. EBITDA, meanwhile, was said to have remained neutral. Again, it did not disclose any figures, however, in Q2, it achieved a negative EBITDA of -1.9 million.
Overall, Centrosolar does not expect to see an end-of year rally and, as such, has reduced its revenue guidance for the full year down from 250 million, to between 215 million to 225 million.
"Because of the anticipated weak overall demand for solar glass, but also bearing in mind that business for modules tails off in the winter, the fourth quarter is expected to bring further losses, albeit not quite as sharp as the previous years. Nevertheless, for the year as a whole the losses will be up on the previous years figure," it added.
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.