2022 financial year - centrotherm exceeds forecast for order intake and consolidated earnings

2022 financial year - centrotherm exceeds forecast for order intake and consolidated earnings

Group order intake increases by around 80% year-on-year to EUR 343.8 million |
Positive EBITDA of EUR 15.2 million exceeds forecast and confirms preliminary figures | Total operating performance of more than EUR 120 million within forecast range |
2023: Positive outlook

Blaubeuren, April 20, 2023 - The centrotherm Group has concluded the 2022 financial year significantly more successfully than expected. Order intake rose by around 80 % year-on-year to EUR 343.8 million (2021: EUR 191.0 million). During the course of the year, the Management Board had raised its forecast twice, from initially EUR 140 to 200 million to most recently EUR 330 to 360 million. centrotherm's customers appeared unimpressed by the weaker economy impacted by the Ukraine crisis. Order volumes from the semiconductor industry reached a new record of EUR 225.0 million, and exceeded the order intake from the photovoltaics industry of EUR 116.6 million. The Group's order backlog increased significantly by 56.5% to EUR 423.6 million, compared to EUR 270.6 million as of the previous year's reporting date of December 31, 2021.

The earnings forecast of positive Group EBITDA for 2022 in the mid to higher single-digit million range was also exceeded. The EBITDA was in the range of EUR 14 million to EUR 16 million at EUR 15.2 million according to preliminary figures as of March 06, 2023. The main reason for this positive earnings development was the improvement in the centrotherm Group's operating margin. In the previous year, a special effect from the reimbursement claim from a former major project in Algeria had contributed EUR 9.2 million to the positive EBITDA of EUR 15.5 million. After taxes, consolidated earnings totaled EUR 12.0 million (previous year: EUR 11.6 million).

Group revenue rose slightly to EUR 180.5 million (previous year: EUR 175.6 million), of which sales revenues were attributable to production equipment of EUR 116.0 million for the photovoltaics industry, and EUR 47.5 million for the semiconductor industry. With sales revenues totaling EUR 151.6 million, Asia was once again centrotherm's largest sales market in the 2022 reporting year. At over EUR 120 million, the Group's total operating performance was within the forecast of EUR 100 to 160 million for the 2022 financial year. 

Jan von Schuckmann, CEO: "centrotherm has sustainably and successfully implemented the diversification of its business model that was initiated years ago. In addition to photovoltaics, we have also established ourselves as a technology and equipment supplier in the semiconductor industry, and in particular with our solutions for processing silicon carbide wafers. With new innovative production solutions, we want to open up new markets as part of our further development in order to secure our business success in the long term."

2023: Positive outlook
The growth potential of the markets in which centrotherm operates remains high. For the 2023 financial year, the Management Board anticipates order intake of EUR 250 to 350 million, as well as sustained profitable business development for the centrotherm Group. With total output of EUR 220 to 260 million, positive EBITDA in the low double-digit million range is expected.

Note: The Annual Report 2022 is now available for download in German on our website in the Investor Relations section.

About centrotherm international AG
Thermal production solutions and coating technologies are among centrotherm's core competencies. For more than 70 years, we have been developing and implementing production concepts for an
steadily growing international customer base. In addition to growth sectors such as the semiconductor and microelectronics industries, as well as photovoltaics, our innovative solutions are also used in new future fields such as fiber and battery production. As a leading global technology group, we work closely with partners from industry and research. We improve existing production concepts and set new trends. In this way, we generate valuable competitive advantages for our customers. Around 600 employees worldwide are working to shape the future - GREEN | SMART | EFFICIENT.

centrotherm international AG
Württemberger Str. 31
89143 Blaubeuren

Internet: www.centrotherm.de
German Securities Identification Number (WKN): A1TNMM (bearer shares); A1TNMN (unlisted shares from the non-cash capital increase)
ISIN: DE000A1TNMM9 (bearer shares); DE000A1TNMN7 (unlisted shares from the non-cash
capital increase)
Inclusion: Basic Board, Frankfurt Stock Exchange
Corporate domicile: Germany

Contact centrotherm:
Nathalie Albrecht
Manager Public & Investor Relations
Tel: +49 7344 918-6304
E-mail: investor@centrotherm.de