EANS-News: centrotherm photovoltaics reports 38.7 percent revenue growth to EUR 635.7 million in first nine months of 2011 - EBIT at EUR 25.2 million in difficult market environment

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

Company Information

Subtitle: • Revenue leaps 85.1 percent to EUR 546.5 million and
EBIT rises 70.2 percent to EUR 102.3 million in core Solar Cell &
Module segment

Blaubeuren (euro adhoc) - November 10, 2011 - centrotherm
photovoltaics AG has confirmed the preliminary results that it
announced on October 28. The globally leading international
technology and equipment supplier for the photovoltaics sector grew
its consolidated revenue by 38.7 percent to reach EUR 635.7 million
in the first nine months of 2011 (prior-year period: EUR 458.4
million), thereby already exceeding its reported 2010 full-year
revenue in the first nine months of this year. Operating earnings
(EBIT) were reported at EUR 25.2 million (previous-year period:
EUR 54.2 million), corresponding to a 4.0 percent EBIT margin
(previous-year period: 11.8 percent). Consolidated net income fell to
EUR 16.6 million, compared with EUR 37.4 million in the prior-year
period, and earnings per share stood at EUR 0.78 (previous-year
period: EUR 1.76).

"Our very good order book position in the first half of the year
allowed us to report significant revenue growth. However, the
difficult market environment, the rising economic risks around the
world, and uncertainties on financial markets have effects on our
business and earnings trends," noted Dr. Thomas Riegler, CFO of
centrotherm photovoltaics AG. "We have positioned ourselves well to
meet the challenges with measures and our flexible production model
that we have implemented in good time. We anticipate that the solar
market will continue to report sustainable growth despite its current
weakness."

Segment trend reflects strong core business The Solar Cell & Module
segment retained its growth dynamism in the first nine months of the
current financial year, hitting a new revenue record with growth of
85.1 percent to EUR 546.5 million (previous-year period: EUR 295.2
million). Operating earnings (EBIT) underwent a pronounced increase
of 70.2 percent to EUR 102.3 million (prior-year period: EUR 60.1
million), reflecting an 18.7 percent EBIT margin (prior-year period:
20.4 percent).

In the Silicon & Wafer segment, revenue fell 56.8 percent to EUR 65.3
million, compared with EUR 151.3 million in the same period of the
previous year, and EBIT was reported at EUR -61.1 million, compared
with EUR 18.9 million in the prior-year period. The sharp fall in the
polysilicon price and more difficult financing terms fed through to
unforeseeable delays for individual large-scale projects in Asia,
thereby burdening our earnings. The Management Board has responded
immediately to the changes in the overall circumstances surrounding
the Silicon & Wafer segment with an extensive catalogue of measures
including a targeted sales campaign, an expansion of the "Performance
Plus" cost-efficiency program, and a task force to focus on further
development.

Revenue in the Thin Film segment increased to EUR 23.9 million,
compared with EUR 11.9 million in the previous-year period. The
segment result (EBIT) amounted to EUR -16.1 million (previous-year
period: EUR -24.7 million), which was mainly impacted by costs for
the further technical development of equipment.

New order intake trends and R&D New orders worth a total of EUR 410.7
million have been signed in the period until the end of September of
this year (prior-year period: EUR 707.7 million). New orders worth
EUR 376.4 million were received in the Solar Cell & Module segment,
orders of EUR 25.6 million were received in the Silicon & Wafer
segment, and the Thin Film segment recorded orders worth EUR 8.7
million.

The Group's total order book position amounted to EUR 524.1 million
as of September 30, 2011 (December 31, 2010: EUR 843.8 million). Of
this amount, 62.3 percent is attributable to the Solar Cell & Module
Segment, 33.5 percent to the Silicon & Wafer segment, and 4.2 percent
to the Thin Film segment. Total research and development (R&D)
investments were up by 27.2 percent to reach EUR 38.6 million in the
first nine months of 2011 (previous-year period: EUR 30.3 million).

Outlook Given the more difficult sector environment, the Management
Board is assuming higher revenue than previously forecast, and a
slightly positive EBIT margin for the current 2011 financial year.

Discussions about contracts with potential customers in the Middle
East and North Africa (MENA) region are developing positively. We aim
to bolster our positioning in this growth region. The company's
strengths in its core business and integrated factories area are also
to be further expanded with the investments that have already been
launched.

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, ingots and bricks, crystalline solar cells and modules, 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 around 1,900 staff, and operates
globally in Europe, Asia and the USA. centrotherm photovoltaics
achieved revenue in the 2010 financial year of EUR 624,2 million, and
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

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

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

company: centrotherm photovoltaics AG
Johannes-Schmid-Str. 8
D-89143 Blaubeuren
phone: +49 (0) 7344 91880
mail: info@centrotherm.de
WWW: http://www.centrotherm.de
sector: Energy
ISIN: DE000A0JMMN2
indexes: TecDAX
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English