DJ DGAP-Adhoc: CENTROSOLAR Group AG: Successful st...

DJ DGAP-Adhoc: CENTROSOLAR Group AG: Successful start to 2010 financial
year: strong revenue and earnings performance thanks to international
expansion



DJ DGAP-Adhoc: CENTROSOLAR Group AG: Successful start to 2010 financial
year: strong revenue and earnings performance thanks to international
expansion



Centrosolar Group AG / Quarter Results

05.05.2010 07:34

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.

=--------------------------------------------------------------------------


- Revenue of EUR 85 million up 38 % on prior-year quarter (EUR 61.7
million): over half of revenue generated internationally
- Operating result (EBIT) of EUR 8.2 million well above target and previous

year (EUR -7.3 million)
- Revenue expectations for 2010 confirmed; earnings forecast for full year

likely to be already reached in 2nd quarter

Munich, May 5, 2010. With revenue of EUR 85 million and an operating result

of EUR 8.2 million, CENTROSOLAR Group AG improved substantially on the
figures for the prior-year quarter (revenue EUR 61.7 million, earnings EUR
-7.3 million) and therefore made a very successful start to the 2010
financial year. The operating result surpassed the company's own
expectations, taking it already more than half way towards the earnings
figure forecast for the full year. The net earnings of EUR 4.4 million
(previous year EUR -6.3 million) even made this a record-breaking quarter.

Similarly to 2009, very few installations were possible in Germany for a
period of almost 2 months at the start of this year due to snow.
CENTROSOLAR was nevertheless able to operate at full capacity throughout
January and February thanks to high international revenue. Demand then also

picked up rapidly in the German market from March on, in anticipation of
the forthcoming reduction in the feed-in tariff.

All in all, the company benefited from vigorous expansion in international
business, which grew further to 53 % of total revenue. Revenue in France,
for example, more than doubled. CENTROSOLAR Group AG also succeeded in
extending its position as a systems integrator in the USA and Italy, where
it achieved above-average growth.

In the Solar Integrated Systems segment, CENTROSOLAR Group AG continues to
pursue a value added strategy for fitters of photovoltaic roof systems. The

cornerstones of this strategy are 'Made in Germany' quality, coordinated
integrated systems and in-roof solutions for the roofs of private houses,
and technical support in situ. This strategy is rounded off by the range of

patent-protected components such as solar glass and mounting systems in the

Solar Key Components segment.

The adoption of continuous improvement processes at the module
manufacturing plant in Wismar and the implementation of a more efficient
production process at the glass finishing plant in Fürth have moreover
hoisted CENTROSOLAR Group AG up to a position among Europe's leaders for
production costs. This is reflected in a consistently high EBIT margin of
more than 9 % for the past three quarters, despite the fact that the
feed-in tariff in Germany was reduced by 9 % at the start of the year,
adversely affecting the development in average selling prices. The gross
margin in the past quarter was 31.6 %, compared with 10.9 % in the
corresponding period of the previous year.

The additional reduction in the feed-in tariff planned by the German
government with effect from July 1, 2010 is prompting anticipatory effects
that lead us to expect a similarly strong second quarter, especially as the

production output of the Solar Integrated Systems segment is already 'sold
out' until the end of June. CENTROSOLAR Group AG is thus able to confirm
the revenue expectations of EUR 340 to 370 million for the 2010 financial
year. In light of the high operating result for the past business quarter
and the positive outlook for the second quarter, it is expected that the
target for the year of EUR 14 to 16 million could already be met by
the mid-way point and should therefore be exceeded for the full year.
Nevertheless, because the impact of the changed legal position in Germany
has yet to be assessed, earnings expectations can only be firmed up in the
course of the second half.


=--------------------------------------------------------------------------


Information and Explaination of the Issuer to this News:

About CENTROSOLAR Group AG:
The listed company CENTROSOLAR Group AG, Munich, (stock exchange code WKN
540750) is one of the leading suppliers of photovoltaic (PV) systems for
roofs and key components, with over 1,000 employees in Europe and the USA
and annual revenue in excess of EUR 300 million (2009). Its product range
comprises solar integrated systems, modules, converters, mounting systems
and solar glass. It generates around half its revenue internationally.
There are CENTROSOLAR branches in Spain, Italy, France, Greece,
Switzerland, the Netherlands and the USA.

CENTROSOLAR has a solar glass manufacturing plant in Fürth and a module
production plant in Wismar (Germany). Over the past two years, the
production lines for the finishing of glass have been substantially
extended in response to rising demand and now have an annual production
capacity of up to six million square metres. Module manufacturing was also
stepped up quite substantially in response to soaring demand. A completely
new module plant certified to DIN ISO 9001:2000 with an annual capacity of
155 megawatt peak was erected in Wismar in 2008, making it one of the
largest and most effective such plants in Europe. For further information,
visit: www.centrosolar.com.

For further information, please contact:

MetaCom Corporate Communications GmbH
Georg Biekehör, tel.: +49 (0)6181 98280-30
E-Mail: g.biekehoer@go-metacom.de



05.05.2010 Ad hoc announcement, Financial News and Media Release
distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

=--------------------------------------------------------------------------


Language: English
Company: Centrosolar Group AG
Walter-Gropius-Str. 15
80807 München
Deutschland
Phone: +49 (0)89 20 1800
Fax: +49 (0)89 20 180 555
E-mail: info@centrosolar.com
Internet: www.centrosolar.com
ISIN: DE0005148506
WKN: 514850
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart

End of News DGAP News-Service

=--------------------------------------------------------------------------




(END) Dow Jones Newswires


May 05, 2010 01:35 ET (05:35 GMT)




Pressekontakt:
DJ - Dow Jones News GmbH

Baseler Arkaden
Wilhelm-Leuschner-Straße 7
60329 Frankfurt am Main
Telefon: +49 69 29725-0

Web: http://www.dowjones.de
Permalink: http://www.ddpdirect.de/dj_dgap-adhoc_centrosolar_group_ag_successful_start_to_2010_financial_year_strong_revenue_and_earnings_performance_thanks_to_international_expansion_56532.html (Dies ist eine über ddp direct verbreitete Pressemitteilung. Für denInhalt ist ausschließlich das herausgebende Unternehmen verantwortlich.) ddp direct - mehr Medien