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© alexandr malyshev dreamstime.com Electronics Production | November 23, 2012

Gloomy Q3 figures for Cencorp

Cencorp Group's net sales decreased by 43.1% during Q3 and made a EUR -1.6 million loss for the period.

Cencorp belongs to the Finnish Savcor Corporation (Savcor). Savcor Group companies owned approximately 78,9 % of the Cencorp shares on 30 September 2012. July - September 2012 (continued operations)
  • Cencorp Group's net sales decreased by 43.1 per cent to EUR 3.0 million (EUR 5.4 million).
  • Operating profit was EUR -1.3 million (EUR -0.5 million).
  • The Group's profit before taxes was EUR -1.6 million (EUR -0.3 million).
  • Profit for the period was EUR -1.6 million (EUR -0.3 million).
January - September 2012 (continued operations)
  • Cencorp Group's net sales decreased by 26.6 per cent to EUR 12.1 million (EUR 16.5 million).
  • The order book at the end of September stood at ca. EUR 2.2 million (EUR 2.5 million).
  • Operating profit was EUR -2.4 million (EUR -2.9 million).
  • The Group's profit before taxes was EUR -2.9 million (EUR -3.6 million).
  • Profit for the period was EUR -2.9 million (EUR -3.7 million).
Market Outlook On 1 October 2012 Cencorp announced that Cencorp and a Dutch company, Sunweb Solar Energy Holding B.V. (Sunweb Solar) have signed a Memorandum of Understanding (MOU), according to which Cencorp acquires Sunweb Solar's photovoltaic module business and related pilot production line, the Sunweb trademark as well as the patents and other intellectual property rights relating to the business. The Memorandum of Understanding is non-binding. On 5 November 2012 Cencorp announced that it has signed a Memorandum of Understanding on delivering Conductive Back Sheets (CBS) to a Chinese photovoltaic module manufactures. The value of the Memorandum of Understanding is expected to be at its minimum ca. EUR 20 million over the course of next three years. The Memorandum of Understanding is non-binding. Cencorp's future outlook will be highly dependent on the company's ability to reach the targeted market position in the global photovoltaic module market as well as on the company's long-term and short-term financing. Cencorp's goal is to reach strong market position as provider of locally produced high-quality photovoltaic modules. At the end of September the Group employed 177 (332) people, out of which 59 persons worked in Finland, 107 persons in China and 11 persons in other countries.
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