centrotherm reports high new order intake and achieves positive EBITDA in the first half of 2017

Blaubeuren, 10.08.2017

The centrotherm Group won orders worth a total of EUR 106.8 million in the first half of 2017, significantly exceeding the previous year's level of EUR 89.5 million during the January 1 to June 30, 2016 period. Demand for centrotherm's PERC solar cell manufacturing solutions and for its FHR production equipment for modern coating technologies exerted a particularly positive impact on Group new order intake. The order book position amounted to EUR 167.3 million as of June 30, 2017. Moreover, centrotherm subsidiary FHR Anlagenbau GmbH (Thin Film & Customized Equipment segment) received a large-scale order after the reporting date from Manz AG to supply inline coating equipment to manufacture highly efficient CIGS thin film modules.

The revenue of the centrotherm Group amounted to a total of EUR 52.6 million in the first six months of the 2017 financial year, with the leading technology and equipment supplier thereby reporting new order intake significantly above its level of sales revenue and reaching a book-to-bill ratio of 2.0. The renewed high level of total operating performance of EUR 73.5 million especially reflects the significant utilization of production capacity at the Blaubeuren site (prior-year period: EUR 75.9 million). Revenue totaling EUR 33.6 million was attributable to the Photovoltaics & Semiconductor segment, including also the final acceptance of a turnkey production line in India. Revenue in the Thin Film & Customized Equipment segment rose from EUR 7.6 million in the previous-year period to EUR 11.7 million. Revenue totaling EUR 7.3 million was generated in the Silicon segment (prior-year period: EUR 12.3 million).

Earnings before interest, tax, depreciation and amortization (EBITDA) increased to EUR 0.6 million (previous-year period: EUR 0.1 million). In the first half of 2017, the operating results from the Photovoltaics & Semiconductor and Thin Film & Customized Equipment segments were positive again in the amount of EUR 1.3 million and EUR 1.0 million respectively. EBITDA in the Silicon segment improved from EUR -2.8 million to EUR -1.7 million thanks to progress made with restructuring measures at the subsidiary SiTec GmbH. At Group level, EBIT also reported an improvement to EUR -0.9 million, compared with EUR -1.7 million in the previous-year period. The consolidated result after tax stood at EUR -2.4 million after EUR -2.1 million in the prior-year period.

Compared with the December 31, 2016 reporting date, cash and cash equivalents increased by EUR 11.2 million, from EUR 40.6 million to EUR 51.8 million. Equity amounted to a total of EUR 41.7 million as of June 30, 2017, equivalent to a 19.7 % equity ratio.

Note: The German version of our 2017 half-year report can be downloaded from our website, within the Investor Relations area.

About centrotherm international AG

centrotherm has been developing and realizing innovative thermal solutions for over 60 years. As a leading and globally operating technology group, we offer production solutions for the photovoltaic, semiconductor and microelectronics industries.

The continuous further development of our successful solutions in thermal processing and coating, such as for manufacturing crystalline solar cells and power semiconductors, form the basis for our successful partnerships with industry, research and development.

Our customers worldwide appreciate our production systems' process stability, scalability and availability in mass production. Above and beyond this, our work is distinguished by the fact that we create high-end process technology solutions which are specific for our customers and tailored to their requirements, and the fact that we are outstanding in system building.

We jointly confront the daily challenges of setting new trends, maximizing the efficiency of producing, for example, solar cells and semiconductors, and securing investments, coupled with our long machine lifetimes. In this way, we generate valuable competitive advantages for our customers through targeted process innovations and production solutions.

Our around 650 staff worldwide are committed to the further development of high-tech solutions for key markets.

centrotherm international AG
Württemberger Str. 31
89143 Blaubeuren
Internet: www.centrotherm.de
German Securities Identification Number (WKN): A1TNMM (bearer shares); A1TNMN (unlisted shares from the non-cash capital increase)
ISIN: DE000A1TNMM9 (bearer shares); DE000A1TNMN7 (unlisted shares from the non-cash capital increase)
Inclusion: Basic Board, Frankfurt Stock Exchange
Corporate domicile: Germany


Nathalie Albrecht
Manager Public & Investor Relations
Tel: +49 7344 918-6304