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6:30 | 25.01.2008
DJ DGAP-Adhoc: Centrosolar Group AG: After achieving targets for 2007, CENTROSOLAR forecasts accelerated revenue growth to EUR 310 million in 2008, coupled with overproportional earnings growth
DJ DGAP-Adhoc: Centrosolar Group AG: After achieving targets for 2007, CENTROSOLAR forecasts accelerated revenue growth to EUR 310 million in 2008, coupled with overproportional earnings growth
Centrosolar Group AG / Preliminary Results/Forecast
25.01.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Provisional results for 2007: revenue EUR 221 million,
EBITDA EUR 15 million
- Targets for 2008: 40% revenue growth, 50% earnings growth
Munich, January 25, 2008 - On the basis of provisional, unaudited figures
CENTROSOLAR Group AG, Munich, increased its revenue to more than EUR 221
million (+28%) in the past financial year. The company was able to push up
its operating result (EBITDA) even more steeply to EUR 15 million (+50%).
Detailed information on the consolidated earnings and results for the
individual segments will be published together with the audited annual
accounts on March 21, 2008. In view of the healthy level of earnings in the
past year and the busy project pipeline, 40% revenue growth to EUR 310
million and disproportionately high growth in the operating result are
forecast for the current year. With EBITDA expected to reach around EUR 22
million, the operating result is forecast to rise by a faster rate of
approx. 50%. Thanks to falling depreciation and amortisation, EBIT and EPS
are even expected to increase multi-fold. Detailed forecast figures will be
published at the Annual Press Conference on March 21.
CENTROSOLAR had forecast revenue of EUR 220 million and earnings of EUR 17
million (EBITDA) for 2007. Thanks to the notable success of its
international business, the revenue target was actually bettered by a
narrow margin. The EBITDA target, too, was achieved at operating level.
Non-budgeted expenses were, however, incurred in connection with the merger
of the integrated systems suppliers Solarstocc, Biohaus and Solara,
reducing the operating result by around EUR 2 million. Earnings are
expected to continue rising overproportionally in 2008, to a total of EUR
22 million.
Growth in the 'Solar Integrated Systems' segment will be driven in essence
by two effects: (1) expansion in now 7 countries is generating
substantially higher revenue streams from international business, above all
in Southern Europe; (2) extending the product range to include
roof-integrated systems and large-scale facilities for industrial roofs has
given the company access to new sales markets.
The 'Solar Key Components' segment (solar glass and module mounting
systems) is showing particularly healthy progress. The unique nanocoated
solar glasses that allow higher light transmission are sold out worldwide,
despite the fact that we have stepped up production considerably. Revenue
from our patented mounting systems is likewise limited by production
capacity.
The fact that IFRS 3 depreciation and amortisation on the corporate
acquisitions in 2005 and 2006 will be substantially lower will moreover
have a positive effect on EBIT and EPS. Whereas this item still amounted to
EUR 8.6 million last year, the figure will fall to around EUR 5.5 million
in the current year. This depreciation and amortisation, which does not
have any effect on cash flow, will even drop below EUR 1 million in 2009.
This should prompt a further jump in profits in 2009 on top of continuing
organic growth.
For further information, please contact:
Georg Biekehör, MetaCom Corporate Communications GmbH
Tel.: +49 6181 9828030
e-mail: g.biekehoer@go-metacom.de
25.01.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Centrosolar Group AG
Walter-Gropius-Str. 15
80807 München
Deutschland
Phone: +49 (0)89 20 1800
Fax: +49 (0)89 20 180 555
E-mail: info@centrosolar.com
Internet: www.centrosolar.com
ISIN: DE0005148506
WKN: 514850
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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(END) Dow Jones Newswires January 25, 2008 01:30 ET (06:30 GMT) |
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