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Oerlikon loss narrows in Q1 – solar thin-film struggling

Oerlikon’s net loss in the first quarter of 2010 amounted to CHF 104 million, compared to a loss of CHF 167m in Q1 2009. Solar thin-film sales are struggling, however.

The loss narrowed on an 11% increase in sales to CHF705m. The EBIT improved from a loss of CHF114m in 2009, to a loss of CHF14m in 2010.

Orders received were up 64% to CHF973m.

“The significant increase in orders received indicates the continuation of the recovery which we have seen since the second half of 2009 for the majority of our segments. The improvement in our key markets and operation as well as the financial restructuring we are currently implementing provide support for the successful turnaround of Oerlikon,” says CEO Hans Ziegler.

Oerlikon Solar - falling solar thin-film sales

The solar segment of Oerlikon reported a 24% drop in sales to CHF39m. The EBIT loss was reduced from CHF32m to CHF24m.

“The decrease in sales was primarily due to declining customer orders in the last quarter of 2009 as a result of customer funding problems and the hesitation to invest in thin-film technology,” Oerlikon says.

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