Centrosolar Announces Preliminary Results for the Second Quarter of 2013

Published August 5th 2013 at 2:40pm
August 2, 2013 - According to preliminary non-audited calculations, the Centrosolar achieved a sales of solar modules and systems of 31.7MWp in the second quarter of 2013 and thus to the first quarter of 2013 (20.4MWp) has achieved an increase of 55%. The prior-year quarter of 38.6MWp was however not achieved. While sales in France and the production of modules for third-party providers on the previous year could be significantly expanded, the weak market developments in Germany and Italy had a negative impact on the sales of modules.

Since the average price level for standard modules was well below that of the previous year, the revenue for the quarter, with a provisional figure of EUR 33.0 million, remained behind the previous year's comparable figure of EUR 53.8 million.

The reduction in sales translated at approximately the same gross margins as in the previous year in a preliminary calculation of gross result of around EUR 5.8 million (down from EUR 14.6 million to EUR 8.8 million). At the same time, however, the measures taken to reduce personnel and other operating costs have been partially effective, so that the operating profit before depreciation, interest and tax (EBITDA) with a value of EUR -4.3 million was EUR 3.1 million down on the previous year (EUR -1.2 million). On June 30th, 2013 the Centrosolar had cash and available credit lines totaling EUR 7.2 million (previous year EUR 22.4 million).

In addition, the Centrosolar today received the audit report for its consolidated financial statements and financial statements of 2012. The key figures correspond, in substance, to the magnitude of those announced on 22 March 2013. After the audit report is issued, the execution of the debt-to-equity swap is expected to begin in late September 2013.

ENF Profiles For Companies Mentioned in This Article

Centrosolar (Solar Components): http://www.enfsolar.com/directory/component/809
Centrosolar (Solar Materials): http://www.enfsolar.com/directory/material/809
Centrosolar (Solar Panels): http://www.enfsolar.com/directory/panel/809
Centrosolar (Sellers): http://www.enfsolar.com/directory/seller/809
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