Centrosolar, which builds plug-and-play rooftop PV systems in addition to operating several glass factories, pocketed a quarterly operating profit of just €300,000 ($429,000) – compared to €8.2m last year. Revenues slid to €71m from €85m.
The Munich-listed company blamed its disappointing performance on unusual and “starkly contrasting” market conditions, in which sharp subsidy cuts in Germany led to softer overall demand even as the race to install systems in Italy led to higher raw-material costs.
