EANS-News: Successful first quarter in centrotherm photovoltaics' core business

- Silicon business grows by 30.6 percent
- Positive margin
trend in Solar Cell & Module segment reflects trend

turnaround
- Tapping of new sales markets

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

Financial Figures/Balance Sheet

Subtitle: - Silicon business grows by 30.6 percent

- Positive margin trend in Solar Cell & Module segment reflects trend
turnaround
- Tapping of new sales markets

Blaubeuren (euro adhoc) - May 11, 2010 - centrotherm photovoltaics AG
achieved consolidated revenue of EUR 115.3 million in the first
quarter of 2010, and benefited from strong demand for single
equipment items, particularly in its Solar Cell & Module segment. The
Silicon & Wafer segment also showed a positive trend, with revenue in
this area reporting a significant increase of 30.6 percent. "With a
strong first quarter, we are following on directly from the positive
trend in the 2009 business year in this area," commented Oliver M.
Albrecht, CFO of centrotherm photovoltaics. The technology and
equipment provider for the manufacturing of solar silicon,
crystalline solar cells and modules, and CIGS thin film modules
achieved consolidated operating earnings (EBIT) of EUR 9.8 million.
The EBIT margin amounted to 8.5 percent. The consolidated net result
stood at EUR 6.6 million in the first quarter of 2010. The total
assets of centrotherm photovoltaics amounted to EUR 781.6 million
(previous year: EUR 740.3 million). The equity ratio stood at
44.9 percent (previous year: 46.5 percent).

Consolidated revenue amounted to EUR 131.0 million in the extremely
strong prior-year quarter. EBIT in the previous year's period totaled
EUR 14.7 million, and consolidated net income EUR 10.5 million. One
reason for the decline in the first quarter of 2010 were higher other
operating expenses of EUR 23.6 million. "Although we were unable to
best the extremely strong first quarter of 2009, we are very
confident of further progress in view of agreements signed in Asia,
and new sales markets such as the Arabian Peninsula," commented Mr.
Albrecht, before adding: "We remain on our growth path with our solid
balance sheet structure and a good liquidity position of almost
EUR 160 million." The company is budgeting revenue growth of between
EUR 550 million and EUR 580 million in 2010.

"Our highly efficient technologies and turnkey systems lead to
significant cost savings for our customers. Pursuing our strategy, we
regard ourselves as well positioned to further expand our leading
competitive position," commented Robert M. Hartung, CEO of
centrotherm photovoltaics. As the result of its high export ratio of
94.0 percent (previous year: 88.3 percent), centrotherm photovoltaics
is largely independent of the forthcoming modifications to the German
Renewable Energies Act (EEG).

Segment trends and order book position

In the Silicon & Wafer area, the company generated revenue of
EUR 43.3 million from the sale of silicon production technology and
systems, 30.6 percent more than in the prior-year period (EUR 33.2
million). The share of Group revenue amounted to 37.6 percent.
Operating earnings (EBIT) also reported significantly positive
progress: these were up from EUR 4.1 million in the prior-year period
to EUR 7.0 million. This segment's order book amounted to EUR 537.7
million on March 31.

In the Solar Cell & Module segment, centrotherm photovoltaics
achieved revenue of EUR 68.2 million (previous year: EUR 86.4
million). A particularly positive factor was the fact that, despite
the fall in revenue, EBIT showed gratifying progress in the first
three months, and amounted to EUR 11.7 million, as in the previous
year period. This represents an increase in the EBIT margin to
17.1 percent (previous year: 13.6 percent). The Solar Cell & Module
segment contributed 59.2 percent of consolidated revenue. In the
Solar Cell & Module segment, the company reported EUR 203.4 million
of orders as of March 31.

In its Thin Film segment, centrotherm photovoltaics achieved revenue
of EUR 3.8 million (previous year: EUR 11.4 million). Additionally
anticipated project costs and investments in process and technology
development exerted a negative impact on segment earnings. Operating
earnings (EBIT) came in at minus EUR 8.8 million (previous year:
minus EUR 1.2 million). As of March 31, centrotherm photovoltaics
reported an order book position of EUR 16.0 million in its Thin Film
segment. "We continue to invest in processes, and we are continuously
working on boosting efficiencies," noted Robert M. Hartung.

The Group's total order book position amounted to EUR 757.0 million
as of March 31 (previous year: EUR 1,256.0 million). The quarter was
especially characterized by high demand for single equipment items in
the Solar Cell & Module area. Mr. Hartung went on to comment: "We
anticipate that the current demand boomed for single equipment will
continue, and that we will receive further turnkey orders over the
course of the year."

Projects successfully concluded In the first three months of the new
2010 financial year, centrotherm photovoltaics successfully concluded
a number of major projects. For example, several turnkey projects in
the Solar Cell & Module area achieved final acceptance. The company
is working on further international projects in its Silicon & Wafer
segment. "Along with efficiency enhancements, which are accompanied
by cost reductions at the same time, we currently regard supply
security as one of the key growth drivers," commented Robert M.
Hartung. Oil, gas, coal and uranium represent finite resources.
Energy consumption is growing in countries such as China and India,
however. For this reason, many countries are considering silicon and
solar cell production opportunities, as renewable energy sources are
inexhaustible. "The development of new solar technologies, and their
deployment in high quality and efficiency-enhancing production
systems, ranks among centrotherm photovoltaics' strengths," noted Mr.
Hartung.

--- End of the announcement ---
The interim report as of March 31, 2010 can be downloaded from
www.centrotherm.de in the Investor Relations area.

About centrotherm photovoltaics AG centrotherm photovoltaics AG,
headquartered in 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 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 1,100 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.

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

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

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, 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