CENTROTEC continues positive trend in revenue and earnings

Brilon, February 7, 2020: CENTROTEC SE, Brilon, generated revenue of EUR 651 million in the 2019 financial year (unaudited, previous year EUR 614.7 million). The forecast range of EUR 620 to 640 million was therefore just exceeded. As previously announced, the indications are that the operating result (EBIT) will be at the upper end of the forecast range, at around EUR 33 million (previous year EUR 30.4 million).

CENTROTEC expects further organic growth for the 2020 financial year and has plans for consolidated revenue of EUR 670 to 690 million. The company anticipates further growth in its international sales markets.

In Germany, there will be a shift away from conventional heat generators, and towards hybrid solutions and heat pumps. The company will also invest further in the expansion of international business activities and the digitalization of its products and processes. On this basis, CENTROTEC expects EBIT in the order of EUR 34 to 36 million for the 2020 financial year. To what extent the coronavirus will negatively impact the business performance – for example through delays in the supply chain – cannot yet be adequately assessed at the present time.

The audited financial statements and Annual Report for the 2019 financial year will be published on March 31, 2020.

CENTROTEC SE CENTROTEC Sustainable AG was converted into the legal form of an SE with effect from January 31, 2020. The company enjoys a presence in around 50 different countries through subsidiaries and sales partners. The principal group companies are Wolf, Brink Climate Systems and Ned Air in the Climate Systems segment, specialising in heating, climate control and ventilation technology e.g. in the form of solar thermal systems, CHP units and home ventilation systems with heat recovery, as well as Ubbink and Centrotherm in the Gas Flue Systems segment, with their focus on gas flue and air piping systems as well as roof products. CENTROTEC is consequently Europe's only listed full-service provider of heating and climate control technology, solar thermal systems and energy-saving solutions for buildings.

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