EANS-News: centrotherm photovoltaics reports figures for the first quarter of 2012

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Company Information

Subtitle: • Group books show major new order from Algeria's
Sonelgaz

• Order book position amounts to EUR 508.2 million
• Revenue at EUR 82.5 million – loss before interest and tax of EUR 42.9
million
• Equity ratio increases by 2.1 points to 43.2 per cent

Blaubeuren (euro adhoc) - May 10, 2012 - In a difficult market
environment, centrotherm photovoltaics AG reports EUR 255.4 million
of new order intake in the first quarter of 2012 (prior-year period:
EUR 224.3 million). Following a related advance payment, this new
order intake figure now includes the EUR 227.1 million order awarded
by Sonelgaz to construct a fully integrated solar module factory in
Algeria. The sector and financing situation in the industry remains
tense, and continues to be reflected in business trends. The Group
generated EUR 82.5 million of revenue in the first three months of
this year (previous-year period: EUR 189.3 million). The EBITDA fell
to EUR minus 27.9 million (previous-year period: EUR 24.0 million).
The Group reported a EUR 42.9 million operating loss at the earnings
before interest and tax (EBIT) level (previous-year: EUR 17.7 million
profit). The net income came to EUR minus 30.6 million(previous-year
period: EUR 12.2 million).

The order book position amounted to EUR 508.2 million as of March 31,
2012 (December 31, 2011: EUR 423.0 million).The equity ratio
increased by 2.1 points to 43.2 per cent in comparison with the 31
December 2011. The number of employees decreased by 9.4 per cent to
1,747 (31 December 2011: 1,928).

"With the order to construct a solar factory in Algeria, we are
showing that centrotherm is succeeding in a highly competitive solar
market with 'made in Germany' technology and products. We do,
however, continue to face an extremely turbulent market. As a
consequence, we incurred EUR 21.5 million of market- related charges
in the first quarter, and EUR 6.6 million due to the strategic
reorientation of our Thin Film segment," commented Dr. Thomas
Riegler, CFO of centrotherm photovoltaics AG. "Our priority in the
current period lies completely in the implementation of our ct focus
restructuring program of safeguarding liquidity and results."

Segment trends In its Silicon & Wafer segment, centrotherm
photovoltaics achieved revenue of EUR 37.2 million with the sale of
silicon production technology and systems (previous-year period:
EUR 29.3 million). The segment reported a EUR 0.2 million operating
loss at the earnings before interest and tax (EBIT) level
(previous-year period: EUR 2.2 million profit). The segment's order
book position stood at EUR 195.5 million as of March 31, 2012
(December 31, 2011: EUR 176.1 million).

In its Solar Cell & Module segment, revenue amounted to EUR 37.2
million (prior- year period: EUR 154.9 million). The segment reported
a EUR 32.2 million loss at the EBIT level (previous-year period:
EUR 19.3 million profit). This segment's order book stood at
EUR 306.3 million at the end of the first quarter (December 31, 2011:
EUR 234.6 million). The Thin Film Module segment generated EUR 8.1
million of revenue (previous- year period: EUR 5.1 million). The
segment reported a EUR 10.5 million loss at the EBIT level
(prior-year period: EUR 3.8 million loss). The Thin Film Module
segment reported an order book position of EUR 6.4 million (December
31, 2011: EUR 12.3 million).

Outlook "We do not believe that the negative trend in the sector will
be reversed in the first six months of 2012," commented CFO Mr.
Riegler. "However, we regard the continued cost pressure in the
photovoltaic industry as an opportunity. This is because only highly
efficient technologies and production systems will lead to
competitive advantages for our customers. We will benefit from our
product portfolio as soon as the market picks up again."

Note: The interim report as of March 31, 2012 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 a globally 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 employed around 1,900 staff as of the December 31, 2011
reporting date, and operates globally in Europe, Asia and the USA.
centrotherm photovoltaics achieved revenue in the 2011 financial year
of around EUR 700 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
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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: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English