EANS-News: centrotherm photovoltaics AG enjoys great popularity with shareholders
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Company Information
Subtitle: More than 300 shareholders attend Annual General Meeting in Ulm
Management Board explains technology leadership, promising business areas
and new markets
Distribution of total dividend of EUR 0.70 per share approved
Blaubeuren (euro adhoc) - August 19, 2011 - The AGM of centrotherm photovoltaics
AG held on August 18 at the Donauhalle in Ulm was exceptionally well received:
more than 300 shareholders were present, marking a 50 percent increase over the
previous year's event, which was also well attended. The shareholders of
centrotherm photovoltaics AG approved with a clear vote the management's
corporate strategy at the Shareholders' General Meeting. The Management and
Supervisory boards of the globally leading technology and equipment provider to
the photovoltaic sector were discharged for the 2010 financial year with a high
majority.
Shareholders approved very highly of the Management and Supervisory boards'
proposal to pay the first dividend in the company's history in view of the good
earnings trends in the 2010 financial year. Consequently, the Shareholders'
General Meeting passed a resolution to distribute a dividend of EUR 0.50 and a
one-off bonus dividend of EUR 0.20 per ordinary share. "We are enabling our
shareholders to participate in the company's success, and we are aiming for a
long-term dividend policy. This means that we are also planning to distribute a
dividend for the coming financial years depending on our corporate development,"
was how Robert M. Hartung, CEO and Management Board Spokesman of centrotherm
photovoltaics AG, commented to shareholders at their general meeting held in
Ulm.
The CFO of centrotherm photovoltaics AG, Dr. Thomas Riegler, presented a
summary of an extremely successful year with significant revenue growth of more
than 20 percent, a doubling of EBIT operating earnings, and an outright order
boom entailing a new order inflow of more than EUR 1 billion. As a technology
leader, centrotherm photovoltaics spent a total of EUR 42.4 million on research
and development in 2010 - almost 50 percent more than in the previous year.
The company, which is listed in the TecDAX index, has prepared well in both
structural and technological terms for the demanding market that will
characterize coming months. The South German company identifies tangible demand
for high-performance cells and modules among manufacturers. To this end, they
require the latest technology in order to achieve high efficiencies, and to
extend their cost-leadership. This is feeding through to corresponding demand
for centrotherm photovoltaics' upgrade packages to retrofit existing production
lines. To this is added additional business from exchanging old systems with the
most up-to-date equipment. "With our technological strength and our systems
along the solar value chain, we are enabling our customers to position
themselves as the best manufacturers in a highly competitive market," Hartung
went on to add.
Along with the Asian market, where centrotherm photovoltaics commands high
market shares in China, Taiwan and India, the South German company identifies
interesting future markets in the Arab region, as well as South America and
North Africa, for example. In addition, customers are currently focusing to
greater extent on integrated production, and are positioning themselves along
the entire value chain. An example of this is the major order received in
spring of this year for the construction of an almost fully integrated solar
module factory in Algeria. This factory covers the entire value creation,
ranging from ingot production and solar cell manufacturing through to solar
module end-products. The high degree of integration in the production of solar
wafers, cells and modules allows low manufacturing costs to be achieved, and
thereby high-quality modules at competitive prices.
Note:
The results of all agenda items are available on the Investor Relations section
of company´s website at www.centrotherm.de.
About centrotherm photovoltaics AG
centrotherm photovoltaics AG, which is based at Blaubeuren, Germany, is the
world's leading technology and equipment provider for the photovoltaics sector.
The company equips well-known solar companies and new sector entrants with
turnkey production lines and single equipment to manufacture silicon, ingots and
bricks, crystalline solar cells and modules, and thin film modules. As a
consequence, the Group possesses a broad and well-founded technological basis,as
well as key equipment at practically all steps of the photovoltaics value chain.
centrotherm photovoltaics guarantees its customers important performance
parameters such as production capacity, efficiencies, and completion deadlines.
The Group employs around 1,900 staff, and operates globally in Europe, Asia and
the USA. centrotherm photovoltaics achieved revenue in the 2010 financial year
of EUR 624,2 million, EBIT of EUR 75.4 million. The company is listed in the
TecDAX index on the Frankfurt Stock Exchange.
Contact:
Saskia Feil
Senior Manager Investor & Public Relations
Tel: +49 7344 918-8890
E-mail: saskia.feil@centrotherm.de
Dr. Torsten Knödler
Manager Public Relations
Tel: +49 7344 918-8898
E-mail: torsten.knoedler@centrotherm.de
Further inquiry note:
Dr. Torsten Knödler
Manager Public Relations
Tel.: 07344 - 918-8898
E-Mail: torsten.knoedler@centrotherm.de
end of announcement euro adhoc
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company: centrotherm photovoltaics AG
Johannes-Schmid-Str. 8
D-89143 Blaubeuren
phone: +49 (0) 7344 91880
mail: info@centrotherm.de
WWW: http://www.centrotherm.de
sector: Energy
ISIN: DE000A0JMMN2
indexes: TecDAX
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English