EANS-News: centrotherm photovoltaics raises revenue and earnings in the first nine months of 2009 and confirms full-year guidance

• Revenue up by 58.1 percent to EUR 374.7 million
• EBITDA leaps
62.3 percent to EUR 50.7 million
• EBIT before purchase price
allocations rises 55.3 percent to EUR 47.2 million
• Solid order
book level at EUR 922.4 million

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9-month report

Subtitle: • Revenue up by 58.1 percent to EUR 374.7 million • EBITDA
leaps 62.3 percent to EUR 50.7 million • EBIT before purchase price
allocations rises 55.3 percent to EUR 47.2 million • Solid order book
level at EUR 922.4 million

Blaubeuren (euro adhoc) - Blaubeuren, November 11, 2009 - centrotherm
photovoltaics AG has remained on its growth path in a difficult
market environment. In the first nine months of 2009, the
internationally leading technology and equipment provider for the
manufacturing of solar silicon, crystalline solar cells and CIGS
thin-film modules achieved revenue growth of 58.1 percent to EUR
374.7 million (previous year: EUR 236.9 million).

centrotherm photovoltaics improved earnings before interest, tax,
depreciation, and amortization (EBITDA) by 62.3 percent to EUR 50.7
million (previous year: EUR 31.3 million). This corresponds to a
higher EBITDA margin of 13.5 percent compared with 13.2 percent in
the previous year. EBIT before purchase price allocations rose 55.3
percent to EUR 47.2 million following EUR 30.4 million in the
prior-year period. The EBIT margin before purchase price allocations
amounted to 12.6 percent (previous year: 12.8 percent). When
including the effects from the purchase price allocations, EBIT
increased by 16.8 percent to EUR 35.5 million. The EBIT margin
amounted to 9.5 percent (previous year: 12.8 percent).

As Oliver M. Albrecht, CFO of centrotherm photovoltaics commented:
"We are thereby confirming our budgeted revenue growth for 2009 of
between EUR 500 million and EUR 550 million, accompanied by an
increase in EBITDA." The company again regards order income as
sending positive signals. In the third quarter of 2009, centrotherm
photovoltaics received orders amounting to a volume of EUR 41.2
million, following EUR 14.5 million in the second quarter of this
year. The total order book as of September 30, 2009 totaled EUR 922.4
million (December 31, 2008: EUR 990.2 million).

centrotherm photovoltaics is currently excited by prospects in Asia:
by the end of the year, the company is aiming to produce the first,
and to date largest, CIGS (copper indium gallium diselenide) module
to be manufactured on a mass production basis that will feature a
surface area of 1.5 m². "Following our first First Silicon Out
milestone in the spring of this year, this would represent a further
success in our corporate history" commented Robert M. Hartung, CEO of
centrotherm photovoltaics.

Research and development remains a central topic These successes are
based on research and development (R&D), which comprises a central
component of centrotherm photovoltaics' activities. The company is
one of the few in its sector to operate its own research and
development department for each business segment, which consists of
around 100 staff members in total. In the solar silicon area, the
experts from Blaubeuren have further optimized their crystallization
furnace to produce multi-crystalline ingots, which was presented in
April 2009. This will allow significantly shorter process cycles,
greater process stability and a higher flowrate performance per year.

In the solar cell area, the company has also presented its new
generation of tube furnaces for diffusion and oxidation, with a 25
percent enhancement of capacity. More wafers can be processed as the
result of process optimization and changes within the furnace
construction, which translates as enhanced efficiency. One important
result of the R&D activities, for example, is the new "FlexLine Plus"
cell line, which permits a further increase in efficiencies when
manufacturing crystalline cells.

In the thin film area, centrotherm photovoltaics raised the cell
efficiency to 13%, based on own equipment and process know-how at the
Blaubeuren pilot plant. This outcome was achieved using a process
that can be implemented for mass production. As a consequence,
centrotherm photovoltaics expects efficiencies of up to 12% for
turnkey lines for the industrial manufacturing of 1.5 m² thin film
modules.

CEO Hartung went on to comment: "These developments allow us to
pursue our objective of facilitating sustained reductions in
customers' production costs, which will rapidly allow the
photovoltaics industry to survive without state support. For this
reason, R&D is and remains one of our central topics, and a key
success factor." In the first nine months of this year, centrotherm
photovoltaics invested a total of EUR 19.4 million in R&D. Research
and development activities also form part of centrotherm
photovoltaics' "Performance Plus" program: since the start of the
year, the company identified efficiency enhancements and cost-cutting
potentials across the Group, and has been implementing corresponding
measures. The company has already achieved significant successes with
this program over the last few months.

Export ratio of 91.6 percent confirms strong international market
position "We achieved significant growth in both revenue and earnings
during the reporting period, despite the challenging market
environment," stated Robert Hartung. "We have further expanded our
strong market position abroad, which is reflected in our export ratio
of 91.6 percent." The share of business from Asia, at 80.5 percent of
total revenue, once again proved the key growth-driver. Robert
Hartung commented: "We are pleased that many Asian manufacturers are
backing our technology and our equipment. Now and in future, we
remain committed to extending our position of technology leadership,
both across Germany and internationally."

About centrotherm photovoltaics AG centrotherm photovoltaics AG,
which is based at Blaubeuren, is one of the world's leading
technology and equipment providers for the manufacturing of solar
silicon, crystalline solar cells and CIGS thin film modules. The
broad product spectrum comprises key equipment and turnkey production
lines for crystalline and thin-film solar cells. The product range is
supplemented by reactors and converters for the manufacturing of
solar silicon. centrotherm photovoltaics guarantees its customers
important performance parameters such as production capacity,
efficiency, and completion deadlines for turnkey lines. The Group
employs around 1,100 staff members, and operates in Europe, Asia and
the USA. centrotherm photovoltaics achieved revenue in the 2008
financial year of EUR 375 million, EBIT of EUR 56 million*, and is
listed in the TecDax of the Frankfurt Securities Exchange. (*before
purchase price allocations)

end of announcement euro adhoc
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ots Originaltext: centrotherm photovoltaics AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Company contact:

Saskia Schultz-Ebert

Senior Manager Investor Relations

Tel: +49 7344 918-8890

E-mail: saskia.schultz-ebert@centrotherm.de

Press contact:

Christina Siebels, Grit Pauli

HOSCHKE & CONSORTEN Public Relations GmbH

Tel: +49 40 3690 50-58 /-31

E-mail: c.siebels@hoschke.de; g.pauli@hoschke.de

Branche: Energy
ISIN: DE000A0JMMN2
WKN: A0JMMN
Index: TecDAX
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade