Centrotherm posts net loss in 2016, but positive EBITDA

Centrotherm Photovoltaics AG (FRA:CTNK) turned to a 2016 net loss of EUR 6.0 million (USD 6.5m) from a profit of EUR 7.0 million a year ago, the German solar machinery maker said today.

Earnings before interest, tax, depreciation and amortisation (EBITDA) were positive at EUR 2.8 million. The year-ago result of EUR 22.5 million included other operating income from one-off effects, the company explained. By business segment, EBITDA was positive for Photovoltaics & Semiconductor and Thin Film & Customized Equipment, but it was negative in Silicon.

In October the company said its forecast for at least achieving zero profit for the full year was no longer realistic, adding that customers are postponing investments due to the solar cell price decline. Still, the group revenue of EUR 144.4 million in 2016 was in line with Centrotherm’s forecast.

“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,” said CEO Jan von Schuckmann.

Photovoltaics & Semiconductor revenue last year rose by 31% to EUR 103.6 million following a jump in orders, especially in Asia. Order intake in that segment surged to EUR 121.7 million from EUR 68.8 million in 2015.

Thin Film & Customized Equipment revenue improved to EUR 16.1 million, while Silicon revenue fell to EUR 24.7 million.

Centrotherm’s export rate was 86.8 % in 2016. The overall order intake rose by 55% to EUR 141.8 million.

(EUR 1 = USD 1.08)

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