Provisional result: CENTROSOLAR ends 2009 with revenue of EUR 309 million

• Quarterly revenue of EUR 105 million despite lower prices
• Annual revenue of EUR 309 million 7% down on previous year
• Second-half sales almost double the prior-year level
• Cost-cutting programme successfully completed in 2009
• Around half of revenue outside Germany

According to initial, unaudited figures CENTROSOLAR Group AG posed revenue of EUR 105 million in the fourth quarter of 2009. Revenue for the full year therefore reached EUR 309 million (target: EUR 280 - 290 million), just 7 % down on the prior-year figure of EUR 333 million despite the financial crisis and a marked fall in prices. Thanks to its flexible purchasing strategy and the introduction of an internal optimisation programme at the start of 2009, CENTROSOLAR not only absorbed the fall in module prices, but actually translated it into improved results in the second half of the year. The final, audited revenue and earnings figures for 2009 are scheduled for publication on March 18.

CENTROSOLAR was able to increase the sales volume of solar modules from 59 MWp in 2008 to 87 MWp in 2009. In fact, the sales volume in the second half of 2009 was almost double the figure for the prior-year period, with the company´s own module manufacturing capacity being the only limiting factor. CENTROSOLAR was particularly rewarded for having consciously specialised in roof systems and key components, with international markets already accounting for around half of sales in these areas.

With regard to the changes to solar subsidies being discussed in Germany, we share the view that the reduction currently being mooted will have considerable consequences, particularly for solar businesses with a strong emphasis on Germany. Overall, it will drastically weaken the German solar industry´s ability to compete internationally and cost jobs. Germany´s solar manufacturers are the best in the world both technologically and in quality terms. However, that position cannot be maintained without a strong home market.

Further information by the issuer on the current debate surrounding the German Renewable Energies Act
Bearing in mind the continuing debate about the feed-in tariff in Germany, CENTROSOLAR Group AG has chosen to await further developments before making any forecasts for the current financial year. We believe that our specific business model makes us operationally well-equipped for the future. Within the PV market, the significance of roof systems will continue to grow. Cost-efficient key components such as our highly light-transmissible anti-reflective solar glass will likewise enjoy increasing demand. The high share of export revenue stems not from project business, but rather from the distribution networks that our local branches in each market have built up over several years. We consider ourselves among Europe´s cost leaders with regard to production costs. The optimisation programme launched at the start of 2009 has been brought to a successful conclusion, with ongoing improvement processes now having taken its place.

About CentroSolar
CENTROSOLAR Group AG is among Europe´s leading suppliers of photovoltaic (PV) systems for roofs and related components, with currently more than 1,000 employees and revenue of more than EUR 300 million in 2009. It generates around half its revenue internationally. The company has its own sales offices in Germany, Spain, France, Italy, Greece, the Netherlands, Switzerland and the USA.