CENTROTEC Sustainable Ag Reports Earnings Results for the Third Quarter and Nine Months of 2015; Provides Earnings Guidance for the Full Year 2015
In the first three quarters, revenue came to EUR 396.9 million, up 1.6% on the prior-year figure of EUR 390.5 million. EBIT reached EUR 22.3 million compared to previous year EBIT of EUR 20.3 million.
It can be assumed that the fundamental development of the third quarter will continue in the fourth quarter, too. While revenue for the group should top the prior-year figure, the operating result will lag behind the previous year's level. The main drivers of the anticipated earnings performance are the weak state of the market for combined heat and power units and solar thermal, along with one-off expenditure for organisational adjustments in the Climate Systems segment. On that basis, the company anticipates revenue of EUR 540 million to EUR 545 million for 2015 overall and, as originally forecast, expects the operating result to be roughly on a par with the previous year.