Centrotherm says 2016 earnings forecast no longer sustainable

German solar machinery maker Centrotherm Photovoltaics AG (FRA:CTNK) said on Tuesday that it is not likely for it to achieve its previous earnings guidance for 2016.

The company, which supplies production systems for crystalline solar cells, noted that its customers are postponing investments in manufacturing equipment due to the steep decline in the price of solar cells.

In August, Centrotherm confirmed its full-year forecast for a revenue of between EUR 120 million (USD 135m) and EUR 150 million, and at least a breakeven at the consolidated net result level. At the time, it reported a net loss of EUR 2.1 million for the first half of 2016, versus a profit of EUR 6.7 million a year earlier.

The company’s overall order intake for the period was up to EUR 89.5 million from EUR 46.6 million.

(EUR 1.0 = USD 1.122)

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