The Centrosolar Group, based in Munich, Germany, ended the first half of 2011 with a revenue of €150.5 million. This was lower than results from the previous year, which reached €209.2 million. The second quarter had a revenue of €79.3 million, against €124.2 million in the previous year and saw a substantial decline in market prices. It is thought that the Italian government suspending financial incentives for solar systems in March 2011 triggered the fall in prices.

Although the company has succeeded in increasing its market share and slightly expanding its sales volumes for solar modules and complete systems in its core activities, it has nevertheless seen its revenue fall.

However, the price cuts now offer the prospect of attractive rates of return for operators of photovoltaic (PV) systems. This could translate into corresponding demand, particularly for roof-mounted solar systems – Centrosolar’s core product.

Furthermore, Centrosolar has reported rising interest in roof solar systems in Italy since June, as preferential financial incentives are granted. Revenue has also been on the rise in the UK, Belgium and the USA.

For 2011 as a whole, Centrosolar expects revenue of €330 - 380 million.