centrotherm posts H1 revenue of EUR 61.9 million, reveals strong order book

Share

Germany’s centrotherm, which makes production equipment for the solar PV and polysilicon industries, has posted encouraging first half (H1) 2016 financials, placing the firm on course for a break-even year following a strong first quarter.

Overall consolidated revenue for the company – which includes thin film and customized equipment – was €61.9 million ($69 million), and in its core segment of PV and semiconductor production equipment, H1 sales hit €42 million ($46.8 million), up from €38.4 million in H1 2015.

Having embarked on a cost reduction and efficiency program in 2014 to stave off insolvency, centrotherm’s turnaround is an encouraging reflection of an uptick in European manufacturing. The firm’s order book looks healthy at the end of H1, with new orders totaling €85.4 million for the PV and semiconductor segment alone. This is almost treble the orders booked at the same period last year (€29.5 million).

Earnings before interest and taxes (EBIT) remained in positive territory for the PV and semiconductor segment, centrotherm confirmed, standing at €1.1 million, but at a consolidated level group EBIT was €-1.7 million, falling from €10.6 million in the comparative period. This decline is largely due to reduced revenues in centrotherm’s silicon segment, where sales were down by more than 60% year-on-year.

Guidance for the remainder of 2016 is wholly positive, however, with a revenue target of between €120-€150 million in the company’s sights. This would mean breakeven at consolidated level for the firm.