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    DGAP-Adhoc  634  0 Kommentare Centrosolar Group AG: Sales volume increased slightly - drive to internationalise continues



    Centrosolar Group AG  / Key word(s): Quarter Results

    11.05.2012 07:43

    Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
    by DGAP - a company of EquityStory AG.
    The issuer is solely responsible for the content of this announcement.




    Munich, May 11, 2012 - CENTROSOLAR succeeded in increasing its sales volume
    of solar modules by 6 % year on year, to 27.4 MWp (previous year 25.7 MWp).
    Following weak weather-related sales figures in January and February, the
    high cuts to the feed-in tariff in Germany with effect from April 1
    prompted short-lived anticipatory effects in March. The company succeeded
    in increasing its sales volume significantly in the USA, Greece and the UK.

    However, the prices of solar modules and systems continued to deteriorate
    in the first quarter. The average sales price of a standard module compared
    to Q4 2011 was down 17 %, and compared to the first quarter of the previous
    year it was all of 42 % lower. This change is also reflected in the revenue
    performance of CENTROSOLAR Group AG. The group´s overall revenue of EUR
    56.5 million was 21 % down on the prior-year figure (EUR 71.1 million),
    despite the volume increase mentioned above.

    Despite the anticipatory effects in Germany, the 65 % share of revenue
    generated internationally is actually slightly higher than the average for
    the 2011 financial year. The sales basis was moreover diversified: While
    the three highest-revenue countries (Germany, France and Italy) still
    generated over three-quarters of consolidated revenue in the first quarter
    of 2011, the concentration on individual sales markets was significantly
    reduced in the first quarter of the current financial year. The UK, Italy,
    France and the USA each brought in between 9 and 14 % of total revenue.

    The external revenue share of the Solar Key Components segment rose from 26
    % to 32 %. The mounting systems area in particular enjoyed healthy revenue
    growth.

    Whereas a special boom in the Italian market in 2011 led to an
    exceptionally positive profit performance for the first quarter, the
    seasonally weaker revenue and the huge pressure on prices and margins
    adversely affected the earnings performance in Q1 2012. The gross profit
    for the quarter of EUR 18.0 million was EUR 5.5 million or 23 % down on the
    prior-year level (EUR 23.5 million). Operating costs were actually reduced
    slightly in the past quarter compared with the prior-year quarter, despite
    higher sales volumes and production capacities, the start-up costs for
    Gecko Energies GmbH following its acquisition in January and the write-off
    of an advance payment to a now-bankrupt cell supplier. There nevertheless
    remained an operating loss before interest and taxes (EBIT) of EUR 4.8
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    DGAP-Adhoc Centrosolar Group AG: Sales volume increased slightly - drive to internationalise continues Centrosolar Group AG  / Key word(s): Quarter Results11.05.2012 07:43Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this …