EANS-News: centrotherm photovoltaics achieves significant revenue and earnings growth on strong new order inflow in Q1 2011

• Revenue rises 64.2 percent to EUR 189.3 million
• EBIT grows 79.5 percent to EUR 17.7 million
• New orders up 187.8 percent to EUR 224.3 million
• 2011 revenue and earnings forecast confirmed

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Company Information

Subtitle: • Revenue rises 64.2 percent to EUR 189.3 million

• EBIT grows 79.5 percent to EUR 17.7 million
• New orders up 187.8 percent to EUR 224.3 million
• 2011 revenue and earnings forecast confirmed

Blaubeuren (euro adhoc) - May 10, 2011 - centrotherm photovoltaics AG
benefited from continued strong demand for photovoltaics in the first
quarter of 2011, and remains on its growth path: the globally leading
supplier of technology and equipment to the photovoltaics sector
achieved 64.2 percent revenue growth in the first three months of
this year to reach EUR 189.3 million (prior-year period: EUR 115.3
million). In this context, centrotherm photovoltaics registered a
high proportion of its total sales with single equipment items for
solar cell manufacturing and from growing demand for turnkey
production lines. New orders in the first quarter of 2011 were up by
187.8 percent to EUR 224.3 million (prior-year period: EUR 78.0
million). Operating profit (EBIT) rose by 79.5 percent to EUR 17.7
million (prior-year period: EUR 9.8 million). The EBIT margin of the
provider of key equipment to all important steps of the solar value
chain increased to 9.3 percent (prior-year period: 8.5 percent).
Consolidated net income grew by 84.9 percent to EUR 12.2 million
(prior-year period: EUR 6.6 million).

Earnings per share were up by 87.1 percent to EUR 0.58 (prior-year
period: EUR 0.31). The company achieved a 24.5 percent return on
capital employed (ROCE), compared with 14.9 percent in the comparable
prior-year period. The equity ratio stood at 44.7 percent (December
31, 2010: 49.2 percent). Total assets were reported at EUR 915.0
million (December 31, 2010: EUR 805.6 million).

"We enjoyed a strong first quarter of 2011 compared with the previous
year's first quarter, and we are on track to achieve our targets for
this year", commented Dr. Thomas Riegler, CFO of centrotherm
photovoltaics AG. "We are very well positioned in strategic terms to
grow sustainably over the long term. We underpin our competitive
strength and technology leadership through constant investments in
new technologies and products, as well as through tapping new
markets."

Segment trends and order book position In its Silicon & Wafer
segment, centrotherm photovoltaics achieved revenues of EUR 29.3
million with the sale of silicon production technology and systems
(prior-year period: EUR 43.3 million). Segment operating earnings
(EBIT) were reported at EUR 2.2 million (prior-year period: EUR 7.0
million). The segment order book stood at EUR 259.5 million as of
March 31 (December 31, 2010: EUR 277.1 million).

In its Solar Cell & Module segment, the company doubled revenue to
EUR 154.9 million (prior-year period: EUR 68.2 million). This segment
contributed 81.8 percent to Group revenue as a consequence
(prior-year period: 59.2 percent). Segment EBIT improved to EUR 19.3
million (prior-year period: EUR 11.7 million). This represents a
12.4 percent EBIT margin (prior-year period: 17.1 percent). The
segment's order book stood at EUR 575.5 million at the end of the
first quarter (December 31, 2010: EUR 513.8 million).

In its Thin Film segment, centrotherm photovoltaics generated revenue
of EUR 5.1 million (previous year: EUR 3.8 million). Investments in
process and technology development fed through to an operating result
of EUR -3.8 million (previous year: EUR -8.8 million). This segment
reported an order book position of EUR 34.8 million (December 31,
2010: EUR 52.9 million).

The Group order book position amounted to a total of EUR 869.8
million as of March 31, 2011 - and consequently 3.1 percent higher
than as of the December 31, 2010 reporting date (EUR 843.8 million).

Outlook Due to the pleasing trend in new orders, centrotherm
photovoltaics anticipates that revenue will continue to grow to
between EUR 690 million and EUR 710 million in the 2011 financial
year, accompanied by a low, double-digit EBIT margin, as communicated
when the 2010 annual report was presented on March 23. "We take an
optimistic view of the future because photovoltaics, in combination
with other renewable energy sources, makes a key contribution to
realizing an exit from the nuclear energy option", commented Robert
M. Hartung, CEO and Management Board Chairman of centrotherm
photovoltaics AG. "With our technology, solar electricity will become
significantly cheaper over the next few years."

Note: The interim report as of March 31, 2011 can be downloaded from
the company's website at www.centrotherm.de, in 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 1,700 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
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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