centrotherm Group 2020 business balance sheet and outlook

Blaubeuren, 25.05.2021

  • 34% increase in order intake to EUR 234.4 million
  • Group revenue increase slightly to EUR 107.3 million
  • EBITDA negative as forecast
  • Order backlog almost doubled from EUR 132.8 million to EUR 256.7 million
  • Outlook for 2021: Significant increase in total operating performance and positive EBITDA

The centrotherm Group significantly increased its order intake by 34 % to EUR 234.4 million in the 2020 financial year (previous year: EUR 175.3 million). The Corona crisis only made itself felt at centrotherm in the first half of the past financial year, when expected orders, par-ticularly from the photovoltaics industry, initially failed to materialize due to the spread of COVID-19 in China. Group revenue rose slightly from EUR 99.1 million in the previous year to EUR 107.3 million. As a result, the book-to-bill ratio was 2.2. Due to the high order intake, total operating performance was again high at EUR 143.2 million (previous year: EUR 138.6 million) and in line with the forecast for the past fiscal year, which was revised upwards in October 2020.

The forecast of a clearly negative Group EBITDA occurred at EUR -8.0 million (previous year: EUR -11.4 million). Despite the reduction in operating expenses, the pandemic-related underutilization of capacity in the first half of 2020 and impairment losses in connection with the introduction of a new generation of equipment had a particularly negative impact on earnings. EBITDA was additionally burdened by investments in research & development.

Jan von Schuckmann, CEO of centrotherm: "Despite the Corona crisis, we invested in our development and future projects in a targeted manner. It was our declared aim to emerge stronger from this crisis and, when the markets revive, to have a product portfolio at hand to benefit from the upturn and exploit advantages over the competition. This has paid off for us: the order backlog at the end of fiscal 2020 almost doubled to EUR 256.7 million compared to the previous period, adding up to EUR 330.8 million at the end of March 2021."

Gunter Fauth, Chief Operations Officer adds, "The production facilities in Blaubeuren and Kunshan/China are running at very high capacity until the fourth quarter of 2021. “

For the financial year 2021, the Board of Management expects a total operating performance of EUR 200 to 260 million in the Group and positive EBITDA in the single-digit million range. This assumes that there continues to be no significant impact from the COVID 19 pandemic in terms of order intake, supply chains and production.

Note: The Annual Report 2020 is available for download in German on our website in the Investor Relations section.

About centrotherm international AG

Thermal production solutions and coating technologies are among centrotherm's core competencies. For more than 70 years we have been developing and implementing production concepts for a constantly growing international customer base. In addition to growth sectors such as the semiconductor and microelectronics industry, as well as photovoltaics, our innovative solutions are also being applied in new future-oriented fields such as carbon fiber production. As a leading, globally active technology group, we work closely with partners from industry and research. We improve existing production concepts and set new trends. In this way, we generate valuable competitive advantages for our customers. Around 600 employees worldwide are working to shape the future - GREEN | SMART | EFFICIENT.

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

Contact centrotherm

Nathalie Albrecht
Manager Public & Investor Relations
Tel: +49 7344 918-6304
E-mail: investor@centrotherm.de