Shareholders welcome centrotherm photovoltaics strategy

Blaubeuren, 23.06.2010

  • Management Board explains pioneering developments and products at the Shareholders' General Meeting
  • Shareholders vote in favor of all agenda items with a large majority

The shareholders of centrotherm photovoltaics AG approved with a clear vote the management's corporate strategy at the Ordinary Shareholders' General Meeting held on June 22. Shareholders voted in favor of all agenda items with a large majority of the approximately 200 shareholders present. The Management and Supervisory boards of the technology and equipment provider for the manufacturing of solar silicon, crystalline solar cells and modules as well as CIGS thin film modules were discharged with respect to the 2009 financial year with a vote in excess of 99 percent. centrotherm photovoltaics aims to sustainably reduce production costs for solar silicon, solar cells and thin film modules with pioneering developments that benefit its customers. The company is simultaneously further expanding its market share in countries such as Qatar, India and the USA, and also intends to launch new products. This was emphasized to shareholders by CEO, Robert M. Hartung, on Tuesday at the Shareholders' General Meeting in Neu-Ulm. He went on to note that, besides technology leadership and extensive customer service, it was particularly employees who represented a decisive success factor. "We wish to honor their input, and ensure that they remain loyal to us over the long term," Mr. Hartung commented. As a consequence, shareholders voted by a large majority to introduce the "centrotherm photovoltaics AG Stock Option Plan 2010" to issue share subscription rights to managers and other staff members of centrotherm photovoltaics AG and its Group companies. The share-based remuneration is primarily intended to help staff members to identify with the company and its objectives, and to think and act entrepreneurially. The majority of shareholders commented positively on the company's sustained development in challenging times, and, besides thanking the Management and Supervisory board, also expressly thanked staff members.

With regard to operational aspects, the company is on a very good path. centrotherm photovoltaics reduced materials and production costs last year, and optimized purchasing terms. At the same time, however, the company has pushed forward into projects of new dimensions, such as the industrial entry of the world's largest shipbuilder, Hyundai Heavy Industries, into the photovoltaics market. "The company is now harvesting the fruits of its strategic and operational positioning," CFO Oliver M. Albrecht went on to add.

About centrotherm photovoltaics AG

centrotherm photovoltaics AG, which is based at 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. centrotherm photovoltaics achieved revenue in the 2009 financial year of EUR 509.1 million, EBIT of EUR 37.2 million, and is listed in the TecDax of the Frankfurt Securities Exchange.centrotherm

centrotherm photovoltaics AG
Johannes-Schmid-Strasse 8
89143 Blaubeuren
Admitted to the Regulated Market/Prime Standard, Frankfurt Securities Exchange
Corporate domicile: Germany

Company contact:
Saskia Schultz-Ebert
Senior Manager Investor Relations
Tel: +49 7344 918-8890

Press contact:
Christina Siebels, Britta Cirkel
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 3690 50-58 /-56
 E-mail; E-mail