DGAP-News: Roth&Rau announces preliminary consolidated results for the 2010 financial year
(firmenpresse) - DGAP-News: Roth&Rau AG / Key word(s): Preliminary Results
Roth&Rau announces preliminary consolidated results for the 2010
financial year
23.02.2011 / 14:47
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Roth&Rau announces preliminary consolidated results for the 2010
financial year
- Sales growth of 35.9 % to EUR 268.9 million
- EBIT of EUR -25.9 million after special items
- Strategic focus on single equipment business resolved
Hohenstein-Ernstthal, 23 February 2011 - Based on preliminary figures, the
Roth&Rau Group generated sales of EUR 268.9 million in the past 2010
financial year. This corresponds to growth of 35.9 % on the previous year's
figure of EUR 197.9 million. The Group's order situation also developed
dynamically, with new orders rising by 103.9 % to EUR 399.1 million
(previous year: EUR 195.7 million). Orders on hand therefore totalled EUR
335.0 million as of 31 December 2010 (previous year: EUR 204.8 million).
This development has been driven above all by the highly successful market
launch of the new SiNA generation. The strong level of demand for
production equipment has also continued in the first quarter. New orders
totalling EUR 49.7 million had been received by 18 February, of which
around 75 % were for single equipment and around 15 % for service and spare
parts.
The Group's earnings performance in the past year was affected by special
items of around EUR -51.2 million (of which EUR 42.9 million under EBIT and
EUR 8.3 million under net financial expenses). As a result, preliminary
earnings before interest and taxes (EBIT) amounted to EUR -25.9 million in
the 2010 financial year (previous year: EUR 16.1 million). EBIT before
special items amounted to EUR 17.0 million.
The special items related to impairment losses of around EUR 8.5 million
already recognised for turnkey projects as of 30 September 2010 and of
around EUR 12.5 million (of which EUR 4.2 million under EBIT and EUR 8.3
million under net financial expenses) due to the risk of insolvency at the
US customer SpectraWatt. Both developments were already announced as soon
as they arose. Moreover, the Group has also recognised further impairment
losses of EUR 11.0 million in connection with existing turnkey projects and
provisions of EUR 9.6 million for legal and tax risks relating to major
projects still underway. Furthermore, as part of a new strategic alignment
that, among other aspects, involves streamlining the Group's product
portfolio, the Management Board has discontinued activities in specific
product groups and thus also in related development projects. This made it
necessary to recognise further, one-off impairment losses of around EUR 3.1
million.
One major one-off item of EUR 6.5 million also resulted from the necessary
conversion of the accounting treatment of SiNA series single equipment from
the percentage of completion method to measurement at cost, which will
involve the respective profit being deferred to the 2011 financial year.
Strategy adapted in line with market changes
The Management Board of Roth&Rau AG has adopted a new strategic alignment
for the Group, thus reacting to changing market requirements in the solar
industry. The aim of this strategic alignment is to safeguard the Roth&Rau Group's leading market position and to create a basis for boosting its
earnings strength in the long term.
Strong growth and the resultant maturation in the solar industry in the
past years have sharply increased the technological expertise and
professionalism at cell and module producers. Specifically, this has led
demand to shift in favour of single equipment with high levels of service
and technological support. In future, Roth&Rau will therefore be focusing
on its high-growth single equipment business.
The turnkey business will be adapted to changing market requirements and
continued in modified form. This should reduce those risks accruing to Roth&Rau in its capacity as general contractor for major projects of this kind
in the past. Specifically, it is planned to offer the Roth&Rau Group's
extensive production expertise, covering the whole range from project
planning through to production ramp-up, as advisory and technology transfer
services on the market. This new range of services has already met with a
very positive reception in initial talks with existing and potential new
customers.
The necessary structural and personnel-related measures have already been
initiated.
Detailed information about the Group's new alignment and its definitive key
figures will be published in the Annual Report on 31 March 2011.
About Roth&Rau AG:
Roth&Rau AG, based in Hohenstein-Ernstthal, has been one of the world's
leading suppliers of production equipment and innovative production
technologies for the photovoltaics industry for more than 10 years now. In
its photovoltaics segment, Roth&Rau focuses on providing antireflective
coating systems and turnkey production lines for use in the manufacture of
crystalline silicon solar cells. Further products include thermal
processing systems also used in the manufacture of crystalline silicon
solar cells, as well as coating systems and turnkey production lines for
the manufacture of thin film solar modules. Roth&Rau MicroSystems, a
subsidiary located in the Wüstenbrand district, develops and produces
process systems for plasma and ion beam enhanced thin film and surface
processing methods tailored to customers' specific needs. The customers
served by this division particularly include companies in the semiconductor
industry, R&D departments in various other industrial sectors, research
institutes and universities. The portfolio of the Roth&Rau Group is
supplemented by software products in the field of systems management,
production monitoring and maintenance and service offerings.
Contact:
Roth&Rau AG
Prof. Dr. Silvia Roth
Tel.: +49 (0) 3723/6685-333
E-Mail: investor(at)roth-rau.de
Haubrok Investor Relations GmbH
Simone Cujai
Tel.: +49 (0) 211/17183537
E-Mail: s.cujai(at)haubrok.de
End of Corporate News
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Language: English
Company: Roth&Rau AG
An der Baumschule 6-8
09337 Hohenstein-Ernstthal
Deutschland
Phone: 03723 6685-0
Fax: 03723 6685-100
E-mail: info(at)roth-rau.de
Internet: www.roth-rau.de
ISIN: DE000A0JCZ51
WKN: A0JCZ5
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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113209 23.02.2011
Datum: 23.02.2011 - 14:47 Uhr
Sprache: Deutsch
News-ID 33284
Anzahl Zeichen: 0
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Kategorie:
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