Centrosolar now expects revenues of €330m-€380m ($474.1m-$545.9m) in 2011, down from its previous forecast of €420m-€450m. Despite the revision, which it blames on weak prices, the company insists it will be profitable in 2011.

Centrosolar recorded an operating profit of €26.6m last year against revenues of €403.5m.

The company, which boasts 155MW of production capacity at its Wismar factory, says many potential customers are taking a “wait-and-see” approach to investments, with the intention of allowing PV prices to bottom out.

Centrosolar