One reason for the decline was higher operating expenses of €23.6 million, according to the photovoltaic equipment provider.
Oliver Albrecht, chief financial officer at the Blaubeuren-based company, was upbeat about the future.
"Although we were unable to best the extremely strong first quarter of 2009, we are very confident of further progress in view of agreements signed in Asia and new sales markets such as the Arabian Peninsula," he says.
Centrotherm's first quarter revenue was also down compared to last year, dropping from €131m in 2009 to €115.3m
