EANS-News: centrotherm photovoltaics looks back on successful 2010 financial year, and plans to distribute first dividend

• Revenue up by 22.6 percent to EUR 624.2 million
• EBIT
doubles from EUR 37.2 million to EUR 75.4 million
• Record
earnings in Solar Cell & Module segment
• Revenue budgeted to
grow to between EUR 690 million and EUR 710 million in 2011
•
Dividend proposal of EUR 0.50 plus one-off bonus dividend of EUR 0.20
per
share

--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------

Company Information

Subtitle: • Revenue up by 22.6 percent to EUR 624.2 million

• EBIT doubles from EUR 37.2 million to EUR 75.4 million
• Record earnings in Solar Cell & Module segment
• Revenue budgeted to grow to between EUR 690 million and EUR 710 million in
2011
• Dividend proposal of EUR 0.50 plus one-off bonus dividend of EUR 0.20 per
share

Blaubeuren (euro adhoc) - March 23, 2011 - With today's presentation
of its 2010 annual report, centrotherm photovoltaics AG confirms its
preliminary figures published on February 23, and looks back on the
best financial year in the company's history. The globally leading
technology and equipment supplier to the photovoltaics sector is
consequently planning the payment of its first dividend to
shareholders. The Management and Supervisory boards of the Southern
German company will therefore propose to the Shareholders' General
Meeting to be held on August 18, 2011 that it distributes a dividend
of EUR 0.50 for the past financial year, plus a one-off bonus
dividend of EUR 0.20 per share.

"In view of the past financial year's good earnings trend, we would
like our shareholders to participate in our company's success through
a dividend payment", was how Robert M. Hartung, CEO and Management
Board Chairman of centrotherm photovoltaics AG, commented on today's
publication of its 2010 annual report. "We regard our proposal as
part of a long-term dividend policy. This means that we are also
planning to distribute a dividend for the coming financial years
depending on our corporate development."

Successful 2010 financial year centrotherm photovoltaics AG continued
on its growth path in 2010. New records were achieved in terms of the
most important key indicators: revenue was up by 22.6 percent to
EUR 624.2 million (2009: EUR 509.1 million), with the export share
reaching 94.7 percent (2009: 90.7 percent). Total operating
performance grew to EUR 681.2 million (2009: EUR 536.0 million).
Earnings before interest, tax, depreciation and amortization (EBITDA)
were up from EUR 58.6 million to EUR 101.3 million. This represents a
16.2 percent EBITDA margin on revenue (2009: 11.5 percent). Operating
earnings before interest and tax (EBIT) doubled to EUR 75.4 million
(2009: EUR 37.2 million), equivalent to a 12.1 percent EBIT margin
(2009: 7.3 percent). centrotherm photovoltaics generated total
consolidated net income of EUR 51.1 million (2009: EUR 28.5 million).
28.0 percent was achieved in terms of return on capital employed
(ROCE), compared with 16.6 percent in 2009. The equity ratio rose to
49.2 percent (2009: 46.5 percent). "The figures show that our
management and employees were excellently prepared to meet the solar
sector's high level of demand for our technology and state-of-the-art
production systems", noted Dr. Thomas Riegler, CFO of centrotherm
photovoltaics AG. The Group employed a total of 1,448 staff as of the
end of 2010 (2009: 1,131).

Segment trends The centrotherm photovoltaics Group's business success
in 2010 is based mainly on its Solar Cell & Module segment, which
achieved record earnings last year: revenue leapt by 68.6 percent to
reach EUR 404.5 million (2009: EUR 239.9 million). This represents a
64.8 percent share of total revenue. The segment's operating earnings
(EBIT) were up almost fivefold to EUR 91.6 million (2009: EUR 18.7
million), corresponding to a 22.6 percent EBIT margin (2009:
7.8 percent). This very gratifying trend mainly reflected strong
demand, and high shipment volumes for our single equipment items. We
delivered a total of 435 single equipment items in 2010. One R&D
highlight in this segment were high- efficiency solar cells with
certified 19.1 percent efficiency, which was achieved with our new
centaurus rear side technology.

In the Silicon & Wafer segment, revenue declined in line with budget
to EUR 201.7 million (2009: EUR 218.7 million), due to the high
degree of project realization and a comparatively low shipment level.
This revenue represents 32.3 percent of Group total revenue. The
segment's operating earnings (EBIT) reached EUR 21.2 million (2009:
EUR 30.4 million), reflecting a 10.5 percent EBIT margin (2009:
13.9 percent). Particularly outstanding events in this segment
included the successful commissioning and production of first silicon
at polysilicon factories in Taiwan, China and Europe, and the signing
of an agreement to construct a silicon factory in Qatar comprising an
order volume of around EUR 150 million.

In the Thin Film Module segment, centrotherm photovoltaics continues
to concentrate on realizing its first thin film project in Taiwan.
The intensive project work, and delays, as well as the continuous
further development of our systems and technologies, continued to be
evident in its revenue and earnings trends: total revenue of EUR 18.0
million was achieved (2009: EUR 50.6 million) - and predominantly by
the wholly-owned FHR subsidiary. Among other products, FHR
manufactures foil coating systems for the production of flexible
solar cells and organic solar cells, which offer tremendous future
potential throughout the solar energy sector. EBIT for the Thin Film
Module segment amounted to minus EUR 37.4 million (2009: minus
EUR 11.9 million).

Despite adjustments to the order book, the total order book position
grew to EUR 843.8 million as of the year-end (2009: EUR 797.4
million). Due to a very robust trend in new orders received of
EUR 1,049.8 million in the 2010 financial year, new orders breached
the EUR 1 billion mark for the first time - thereby setting a new
record in the company's history.

2011 outlook As already announced at the end of February, centrotherm
photovoltaics anticipates that revenue will continue to grow to
between EUR 690 million and EUR 710 million in the 2011 financial
year due to the pleasing new order trend, accompanied by a low,
double-digit EBIT margin. "We have established a globally outstanding
market position in the photovoltaic sector with our technology and
production systems. We aim to exploit our business success to
continue to invest heavily in R&D in order to thereby extend this
technology lead, and to enable our shareholders to participate in the
company's success at the same time. As a consequence, we see
ourselves as excellently equipped for 2011 and the upcoming years",
commented Robert M. Hartung, CEO and Management Board Chairman of
centrotherm photovoltaic AG.

Note: The 2010 annual report can be downloaded from our website at
www.centrotherm-pv.com, within the Investor Relations area.

About centrotherm photovoltaics AG centrotherm photovoltaics AG,
which is based at Blaubeuren, Germany, is the world's leading
technology and equipment provider 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 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 chain. centrotherm photovoltaics
guarantees its customers important performance parameters such as
production capacity, efficiencies, and completion deadlines. The
Group employs over 1,400 staff members, and operates in Europe, Asia
and the USA. centrotherm photovoltaics achieved revenue in the 2010
financial year of EUR 624,2 million, EBIT of EUR 75.4 million. The
company is listed in the TecDAX index on the Frankfurt Stock
Exchange.

Contact:
Saskia Feil
Senior Manager Investor & Public Relations
Tel: +49 7344 918-8890
E-mail: saskia.feil@centrotherm.de

Dr. Torsten Knödler
Manager Public Relations
Tel: +49 7344 918-8898
E-mail: torsten.knoedler@centrotherm.de

end of announcement euro adhoc
--------------------------------------------------------------------------------

ots Originaltext: centrotherm photovoltaics AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Dr. Torsten Knödler
Manager Public Relations
Tel.: 07344 - 918-8898
E-Mail: torsten.knoedler@centrotherm.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