CENTROTHERM photovoltaics AG released its group financial results for the fiscal year 2016 ended on March 31, 3017. Strong demand, particularly from Asia, contributed to the company’s group revenue, which increased 4% YoY. Revenue in the core segment of Phovoltaics & Semiconductor increased by 31% YoY.

“The competitive environment remains challenging for us in all areas in the years ahead. The development of new technologies, flanked by improved productivity, forms the focus of our investments and measures. To this end, we have developed a strategy road map for the next few years that we will be rigorously implementing together,” emphasized Jan von Schuckmann, CEO of centrotherm photovoltaics AG.

The Phovoltaics & Semiconductor segment’s EBITDA was EUR 4.7 million, while order intake almost doubled to EUR 121.7 million, compared with EUR 68.8 million in FY 2015.

Other & group segments

Revenue in the Thin Film & Customized Equipment segment also rose to EUR 16.1 million in 2016, up from EUR 15.5 million in the previous year. However, revenue in the Silicon segment dropped below expectation to EUR 24.7 million, mainly due to construction of a polysilicon factory under a major project in Qatar.

At group level, centrotherm achieved its forecast for a revenue target with revenue of EUR 144.4 million, up by 4% annually.

Despite the negative result of the Silicon segment, the encouraging performance of the Photovoltaics & Semiconductor and the Thin Film & Customized Equipment segments generated a positive group EBITDA of EUR 2.8 million overall. In 2015, Group EBITDA posted EUR 22.5 million due to other operating income from one-off effects.

Taking account of taxes on income of EUR 4.2 million, the consolidated result came in at EUR -6.0 million, compared to EUR 7.0 million in 2015.

In FY 2016, centrotherm acquired orders totaling EUR 141.8 million and therefore raised order intake by 55 % in a year-on-year comparison.

(Photo courtesy to centrotherm)