Centrotherm Photovoltaics doubles H1 sales

Centrotherm Photovoltaics AG continued to report strong growth in the first half of 2008, generated sales of EUR 140.1 mln in the first six months of 2008 (prior-year period: EUR 61.1 mln), while operating earnings (EBIT) reached EUR 18.4 mln compared to EUR 9.0 mln the previous year.
In the fist half-year 2008 the German company received several major orders reflected in a high order book level, which rose by EUR 515.7 mln to EUR 978.3 mln as of June 30, compared to EUR 462.7 mln in the previous year. In the solar silicon area orders increased by EUR 327.3 mln to EUR 435.0 mln as of June 30, while the equivalent level of orders as of December 31, 2007 was EUR 107.7 mln.
The company is retaining its revenue forecast of EUR 330 – 350 mln for the full 2008 financial year, and an EBIT margin of at least 12.5%.
"Good growth in the silicon business confirms our business model and strategy to further establish ourselves along the solar value-creation chain, all the way through to offering complete silicon factories," said Oliver Albrecht, CFO of centrotherm photovoltaics. “Our order backlog shows the great potential inherent in the solar silicon area. Our aim is to further exploit this potential."
Centrotherm Photovoltaics shipped the first plants for the manufacturing of polysilicon to Asia in June. Staff are currently assembling and putting these plants into operation.
Oliver Albrecht went on to add that "our high order backlog level provides a good indicator of sales growth for the next two years."
In April, the company acquired the entirety of GP Solar GmbH, based in Constance, that provides products, consultancy services, and technology for photovoltaics with a focus on quality control and process technology for the manufacturing of solar cells and solar modules. The complete integration of GP Solar has allowed Centrotherm Photovoltaics to take an important strategic step in the expansion of its solar silicon business. As GP Solar holds a 50% stake in SolMic GmbH, Centrotherm could also more closely integrated in engineering services surrounding the design and process optimization of silicon factories for photovoltaics and microelectronics.