Centrotherm dubbed biggest capital burner in Germany for 2012
Mar 26, 2013 - Centrotherm (ETR:CTN) was the German solar company which cost its investors the most last year, losing 92% of its value on the market.
This statement was made by the German Society for the Protection of Securities Holders (DSW) on Tuesday, which also said that since 2008 the drop in price of the solar equipment maker's shares was even bigger -- 99%.
Centrotherm, currently under restructuring, has a market value of EUR 28 million (USD 36m), Marc Tuengler, CEO of DSW, said. Its market capitalisation has dropped to EUR 209 million as of end-2012 from EUR 1.16 billion as of end-2007.
The top ten of the 50 capital burners in DSW’s list includes another four representatives of the troubled solar industry. Centrotherm is followed by German solar companies SolarWorld AG (ETR:SWV) and Phoenix Solar AG (ETR:PS4).
Tuengler said that DSW’s follows the 50 companies listed in the Prime Standard of the Frankfurt Stock Exchange, which booked the sharpest share price drops in the past 12, 36 and 60 months. The top ten of them have burned EUR 10 billion in the past five years.