The drop came as orders received fell 98% to CHF11m from H1 2009, which included a “large order” from Hevel in Russia.
The EBIT fell from break-even to a loss of CHF60m.
“However in recent months, the solar market has also shown signs of recovery, and Oerlikon Solar won two follow-up contracts from its Chinese customer Tianwei and Astronergy,” Oerlikon Solar says.
For H2 2010, Oerlikon Solar expects to “significantly reduce its losses.”
Furthermore, the business segment of the Oerlikon Group plans to launch “a new generation of systems on the market by the end of the year, which will provide significant competitive advantages due to much lower manufacturing costs for thin-film solar modules.”
The group as a whole saw its net loss narrow from CHF99m to CHF50m in H1 2010. The EBIT improved from a loss of CHF164m to a loss of CHF31m as sales increased 10% to CHF1573m.
Oerlikon expects to increase sales by 15% and reach operational break-even in H2.
CFO Jürg Feider, says: “The financial restructuring, together with ongoing operational restructuring measures, has provided the basis for the return to profitability of Oerlikon’s business segments and for their sustained long-term development.”