EANS-News: centrotherm photovoltaics grows operating earnings more than 30 percent in first half of 2010

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6-month report

Blaubeuren (euro adhoc) - - Full-year revenue forecast raised to
between EUR 580 million to EUR 600 million - Revenue in the first six
months of 2010 rises 5.4 percent to EUR 278.3 million - Solar Cell &
Module segment reports best operating result in company's history

Blaubeuren, August 12, 2010 - centrotherm photovoltaics AG continued
its successful track record in the first half of 2010, growing
revenue by 5.4 percent to EUR 278.3 million (prior-year period: EUR
264.1 million). Consolidated operating earnings (EBIT) improved
significantly, rising 31.3 percent to EUR 33.9 million (prior-year
period: EUR 25.8 million). The technology and equipment provider's
EBIT margin increased to 12.2 percent (prior-year period: 9.8
percent). The Solar Cell & Module segment, in particular, made a key
contribution to the company's performance, and achieved the best
operating result in the company's history with a 23.4 percent EBIT
margin the first six months of 2010, and 27.2 percent in the second
quarter. After deducting tax and minority interests, consolidated
earnings reflected a sharp rise of 29.1 percent to EUR 22.9 million
in the first half of 2010 (prior-year period: EUR 17.7 million). As a
consequence, earnings per share were up by 28.6 percent to EUR 1.08
(prior-year period: EUR 0.84).

The Swabian company has recorded a thoroughgoing demand boom over the
past months, driven by the expansion plans of many Asian solar cell
manufacturers, and the general economic upturn. "We have multiplied
our manufacturing and installation capacity through optimized
production and procurement processes, and the global expansion of our
service activities - without thereby compromising our quality level,"
noted Dr. Dirk Stenkamp, Chief Operating Officer (COO) of centrotherm
photovoltaics AG.

Order book more than one and a half times 2009 revenue

The order book amounted to EUR 864.0 million, more than one and a
half times the 2009 revenue level. "It is particularly the premium
cost-leaders among solar cell and module providers who are
increasingly opting for our technologies and systems," explained
Robert M. Hartung, CEO of centrotherm photovoltaics AG. "This is why
we are also thriving in a solar cell and module market that is
characterized by overcapacities." Second-quarter order volumes showed
very gratifying growth: as a result of the contract with Qatar Solar
Technologies (QST) entailing a volume of around EUR 150 million, and
the continued high demand for single equipment items to produce
crystalline solar cells and modules, new order inflow amounted to EUR
275.3 million in the months April to June alone.

"The high order book position and new order intake confirm our
business model as a technology leader. We offer our customers
cutting-edge technology that is undergoing constant improvement,"
commented CEO Robert M. Hartung. "We will raise our production
systems' efficiency even further to make continued reductions in
solar module manufacturing costs. This is because solar electricity
offers an unbeatably attractive price on a long-term view, and is CO2
neutral."

As pioneering thought leaders and pace setters offering high-tech
products in the solar sector, centrotherm invested a total of EUR
18.8 million in research and development (R&D), considerably more
than in the prior-year period (prior-year period: EUR 11.1 million).
Staff numbers grew by around 20 percent to 1,338 due to the
strategically planned dynamic growth rate (1,111 staff members).

Growth markets of China, India and the Arabian region

centrotherm photovoltaics is focusing fully on the Asian and Arabian
regions: the company's presence in China was expanded with a
subsidiary in Shanghai, and a further subsidiary was founded in India
on May 11. A service and sales company will soon go into operation in
Qatar. This will create a comprehensive geographical sales and
service network in these central sales markets.

Significant events in the divisions

Revenue in the Silicon & Wafer segment was up by 13.6 percent to EUR
90.7 million, and operating earnings (EBIT) improved to EUR 7.8
million (prior-year period: EUR 5.3 million). The EBIT margin
increased from 6.6 percent to 8.6 percent. centrotherm anticipates a
further rise in the margin for the second half of 2010. One sales
highlight in the segment was the market launch of new
multi-crystalline ingot furnaces for customers in Southeast Asia, and
the successful presentation of the new 24-pair technology at the
first centrotherm SiTec Customer Day in Shanghai. This new technology
will also be implemented at the major project in Qatar. centrotherm
photovoltaics is currently engaged in various highly promising
contract negotiations.

The Solar Cell & Module segment shone with impressive figures in the
first half of 2010: revenue was up by 14.5 percent to EUR 180.3
million (prior-year period: EUR 157.5 million). Operating earnings
leapt 80.5 percent to EUR 42.2 million (prior-year period: EUR 23.4
million). This very gratifying outcome was firstly due to high demand
for single equipment items. Great potential also became evident in
the expansion business with upgrade packages, and a first contract
has already been signed in Taiwan. At the same time, the improved
materials expense ratio exerted a positive impact on segmental
operating earnings. Highlights included the successful ramp-up of two
turnkey lines for crystalline solar cell production at LG
Electronics. The Korean electronics group has entered the
photovoltaics market, and is planning a further capacity expansion.

Revenue fell to EUR 7.2 million in the Thin Film Module segment
(prior-year period: EUR 26.8 million). The segmental operating result
(EBIT) was EUR -16.2 million (prior-year period: EUR -2.9 million),
and particularly arose from project costs, and process and technology
development costs as part of our thin film project for a Taiwanese
customer. The customer plans to sell the manufactured modules on
selected Asian markets from the fourth quarter of this year.

Outlook: 2010 financial year revenue forecast raised

Thanks to the very sound order book, and its strong international
positioning, centrotherm photovoltaics anticipates a positive
business trend in the second half of 2010, and continued strong
demand for single equipment items in the Solar Cell & Module segment.
"This has prompted us to raise our 2010 financial year revenue
forecast from previously between EUR 550 million and EUR 580 million
to currently between EUR 580 million and EUR 600 million," explained
Robert M. Hartung.

Note:
The full report for the first half of 2010 can be downloaded from
www.centrotherm-pv.com in the Investor Relations section.

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 photovoltaics sector. The
company equips well-known solar companies and new sector entrants
with turnkey production lines and single equipment to manufacture
silicon, crystalline solar cells and modules as well as thin film
modules. As a consequence, the Group possesses a broad and
well-founded technological basis, as well as key equipment at
practically all steps of the photovoltaics value-creation chain.
centrotherm photovoltaics guarantees its customers important
performance parameters such as production capacity, efficiencies, and
completion deadlines. The Group employs around 1,300 staff members,
and operates in Europe, Asia and the USA. In the 2009 financial year,
centrotherm photovoltaics achieved revenue of EUR 509.1 million, and
EBIT of EUR 37.2 million. The company is listed in the TecDax of the
Frankfurt Securities Exchange.

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

Further inquiry note:

Contact:

Saskia Schultz-Ebert

Senior Manager Investor & Public Relations

Tel: +49 7344 918-8890

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

Dr. Torsten Knödler

Manager Public Relations

Tel: +49 7344 918-8898

E-Mail: torsten.knoedler@centrotherm.de

Christina Siebels, Britta Cirkel

HOSCHKE & CONSORTEN Public Relations GmbH

Tel: +49 40 3690 50-58 /-56,

E-Mail: c.siebels@hoschke.de; b.cirkel@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