EANS-News: centrotherm photovoltaics achieves strong revenue growth in the first half of 2009

- Revenue up from EUR 140.1 million to EUR 264.1 million
- EBIT
(before purchase price allocations) boosted from EUR 18.4 million

to EUR 33.6 million
- Growth forecast for 2009 full year confirmed

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Blaubeuren (euro adhoc) - Blaubeuren, August 13, 2009 - centrotherm
photovoltaics AG set new records in terms of revenue, orders on hand
and equipment shipments in the first half of 2009: despite the
economic and financial crisis, the revenue of the technology and
equipment provider for the manufacturing of solar silicon,
crystalline solar cells and CIGS thin film modules rose by 88.5
percent, from EUR 140.1 million in the previous year to EUR 264.1
million. Earnings before interest, tax, depreciation, and
amortization (EBITDA) improved from EUR 18.8 million in the previous
year to EUR 35.8 million. This corresponds to an EBITDA margin of
13.5 percent (previous year: 13.4 percent). In terms of operating
earnings (EBIT) before purchase price allocations, centrotherm
photovoltaics achieved an increase of 83.3 percent to EUR 33.6
million (previous year: EUR 18.4 million). The EBIT margin
correspondingly amounted to 12.7 percent (previous year: 13.1
percent). Including the effects from the purchase price allocations,
EBIT amounted to EUR 25.8 million. The EBIT margin amounted to 9.8
percent (previous year: 13.1 percent). The margin trend in the first
half of 2009 was particularly affected by start-up investments for
initial orders in the silicon and thin film areas, which are still in
their infancy.

"We continued to chart our profitable growth course in the second
quarter, although it was somewhat less dynamic than in the record
first quarter 2009, as anticipated," commented Oliver M. Albrecht,
CFO of centrotherm photovoltaics. Following record figures in order
intake and order backlog in the first quarter 2009, order intake
slowed down significantly as anticipated. In the period from April to
June 2009 centrotherm photovoltaics received orders amounting to EUR
14.5 million. Order intake in the prior-year period (Q2 2008)
included four major orders including the largest solar cell order in
the company's history. The order book amounted to EUR 1.010 million
as of June 30, 2009 (previous year: EUR 990.2 million).

Significant events in the divisions centrotherm photovoltaics
continued to set a brisk pace in terms of deliveries of individual
items of equipment and turnkey production lines: 9 lines and 130
individual items of equipment were shipped to customers both in
Germany and abroad - more than ever before.

A notable success in the solar cell division was achieved with the
Korean customer Hyundai Heavy Industries. At the world's largest
shipbuilder, centrotherm photovoltaics is realizing its largest
project in the solar cell division to date: five cell lines of 50 MW
of production capacity each have been created. In this case, the
"Vision" systems of the 100 percent subsidiary GP Solar were used.
The measuring systems are the result of the Group's own research and
development (R&D). "We place the highest priority on innovation and
the successful implementation of our major projects," commented
Robert M. Hartung, CEO of centrotherm photovoltaics, and continued:
"Research and development has been a central component of our
corporate strategy from the very start. This will also remain the
case, as technological innovations are the key to maintaining the
company's long-term position on the markets." The company invested a
total of EUR 11.1 million in R&D in the first half of 2009 (previous
year: EUR 7.5 million). Besides this, expenses of around EUR 6
million for process developments and ramp-up in the thin film area
were incurred in the first half of 2009, which were not capitalized.
The focus in this respect is an even more rapid production cycle
times, and an optimal utilization of materials.

In early March the solar silicon division - being still in its
infancy - achieved a first milestone in the form of "First Silicon
Out", describing the production of first silicon from centrotherm
photovoltaics reactors. Following suite, the company started to
commission silicon equipment for an additional customer in Asia in
the second quarter. The initial development step entails annual
production of around 1,250 tonnes of polysilicon. The production is
targeting microelectronics quality, as required particularly for chip
manufacturing, as well as for solar cells. Another milestone
achievement is to be expected from the thin film area: centrotherm
photovoltaics started to commission the first CIGS thin-film
production line for a Taiwanese customer. With a surface area of 1.5
m² this will be the first and to date largest CIGS module to be
manufactured on a mass production basis.

Outlook Although growth dynamics has slackened somewhat in the second
quarter following the record set during the first three months of
2009 - in line with expectations - centrotherm photovoltaics takes a
highly confident stance in view of the well filled order book and the
robust project pipeline. Albrecht commented as follows: "Therefore,
we are reconfirming our budgeted revenue growth to EUR 500 million to
EUR 550 million, accompanied by increases in EBITDA."

The interim report as of June 30, 2009 can be downloaded from
www.centrotherm- pv.com in the Investor Relations area.

About centrotherm photovoltaics AG Headquartered in Blaubeuren,
Germany, centrotherm photovoltaics AG ranks as 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, degree of efficacy, 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)

centrotherm photovoltaics AG Johannes-Schmid-Strasse 8 89143
Blaubeuren Internet: www.centrotherm.de ISIN: DE000A0JMMN2 WKN:
A0JMMN Admitted to the Regulated Market/Prime Standard, Frankfurt
Securities Exchange Corporate domicile: Germany

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