Centrotherm records EUR19 million 2015 earnings, due to one-off revenues

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Registering revenues of €139 million ($157 million) in 2015, below guidance of between €150 to €200 million (US$170 – $226 million), centrotherm has booked a surprising profit. The company primarily attributes the EBIT €19 million (US$21.5 million) windfall to extraordinary income and the effect of cost cutting measures.

The shortfall in revenues has been attributed to a “reassessment of major project of the subsidiary SiTec… and a lack of new business in the silicon segment.” SiTec delivers flexible and automated production lines for electrochemical metalworking processes, amongst others.

On the brighter side of the company’s financials, centrotherm’s solar and semiconductor segment has reported orders of €40 million ($45.2 million) in the first two months of 2016 alone. “High investment in the solar cell manufacturing” was cited by centrotherm for the uptick.

In January it was revealed that Qatar Solar Technologies had taken an 80% stake in centrotherm, after the Qatari company had previously been working with centrotherm on the construction of the Ras Laffan Industrial City polysilicon facility.

pv magazine has requested more details as to the extraordinary revenues.