CENTROTEC Sustainable AG announced earnings results for the first half of financial year 2017. For the period, the company increased its revenue by 3.8% to EUR 273.8 million from previous year revenue of EUR 263.9 million. This growth is based on the positive development in the international markets throughout the entire first half despite a comparatively weak second quarter, which had three workdays less than in the previous year. Based on the high expenditure for business expansion, the operating result was lower than in the previous year with EBITDA totaling EUR 18.0 million and EBIT amounting to EUR 5.8 million from previous year EBITDA of EUR 20.3 million and EBIT of EUR 8.6 million, respectively. Improvements in net interest and an effective tax rate at the previous year's level led to earnings per share (EPS) of EUR 0.12 compared with previous year EPS of EUR 0.23.

Despite the modest development in the German heating market the first half of the year came up to expectations. The strategic measures implemented to generate sustainable, international growth continued to have a positive effect. On this basis, the company stands by its forecast for the 2017 financial year as a whole and expects revenue of EUR 575 to EUR 600 million along with EBIT of between EUR 33 and EUR 35 million.