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		<title>SYSTAIC AG - Current Notices</title>
		<link>http://www.systaic.com/</link>
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			<title>SYSTAIC AG - Current Notices</title>
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		<lastBuildDate>Thu, 26 May 2011 15:11:00 +0200</lastBuildDate>
		
		
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			<title>CENTROTEC sets new revenue record in first quarter - Organic growth reaches 9 %</title>
			<link>http://www.systaic.com/en/press/news-details.html?tx_ttnews%5Btt_news%5D=649</link>
			<description>Brilon, May 12, 2011: the SDAX-listed company CENTROTEC Sustainable AG generated record revenue of...</description>
			<content:encoded><![CDATA[Brilon, May 12, 2011: the SDAX-listed company CENTROTEC Sustainable AG generated record revenue of EUR 112.3 million in the first quarter of 2011. Compared with the previous record from one year earlier (EUR 103.1 million), this represents organic growth of 8.9 %. This development was underpinned especially by 13.9 % revenue growth for the largest segment, Climate Systems, to EUR 76.5 million (previous year EUR 67.2 million), which was accompanied by growing market shares and profit margins. The Medical Technology & Engineering Plastics segment, too, bettered the previous revenue record from 2008 with 26.2 % revenue growth to EUR 10.7 million (previous year EUR 8.5 million). Compared with the very strong prior-year quarter, revenue for the Gas Flue Systems segment was down 8.7 % to EUR 25.0 million (previous year EUR 27.4 million), mainly as a result of weaker French business.
 The operating result for the group is traditionally not particularly meaningful in the first quarter because of the strong seasonal factors at work. Earnings were influenced by shifts in the product mix and by substantial rises in commodity prices over the past few months. The ongoing drive to improve earnings throughout the group, the price adjustments that have been pushed through and the reduced personnel expenses ratio nevertheless compensated in part for this effect. EBITDA of EUR 8.6 million for the first three months  of 2011 was consequently only 7.7 % down on the record figure from the previous year (EUR 9.3 million). EBIT reached EUR 4.0 million (previous year EUR 5.1 million). Earnings per share (EPS) were down at EUR 0.09 (previous year EUR 0.19), among other reasons because the investment result was slightly negative, in contrast to the prior-year quarter. For the full year and beyond, the prospects of the CENTROTEC Group have improved further thanks to its stronger market position, the improved environment for energy-saving solutions created by the current energy policy debate, and the general trend in energy prices. In Germany, the financial incentive for solar collectors, heat pumps, biomass boilers and condensing boilers was substantially increased in March. It has also recently been possible to push through noteworthy price increases. Against this backdrop, CENTROTEC confirms the full-year forecast of consolidated revenue amounting to EUR 520 to 535 million and expectations of an operating result (EBIT) of EUR 40 to 42 million, which would equate to earnings per share (EPS) of EUR 1.70 to 1.80. Further technologically appropriate acquisitions that fit in with CENTROTEC&#x2019;s buy and build strategy are moreover conceivable in the remaining part of the year. The steady improvement in the group&#x2019;s financial situation in recent years gives it the necessary leeway for such moves. The prospect of the company&#x2019;s first ever distribution of a dividend of EUR 0.10 per share following the Shareholders&#x2019; Meeting on May 26 is also to be considered in this context. ]]></content:encoded>
			<category>Pressemitteilungen</category>
			
			
			<pubDate>Thu, 26 May 2011 15:11:00 +0200</pubDate>
			
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			<title>CENTROTEC acquires assets of Systaic energy roof operations</title>
			<link>http://www.systaic.com/en/press/news-details.html?tx_ttnews%5Btt_news%5D=647</link>
			<description>Brilon, April 18, 2011 &#x2013; The Ubbink Group, a subsidiary of CENTROTEC  Sustainable AG, is acquiring...</description>
			<content:encoded><![CDATA[Brilon, April 18, 2011 &#x2013; The Ubbink Group, a subsidiary of CENTROTEC  Sustainable AG, is acquiring the assets of the Systaic energy roof  operations of Systaic AG, which filed for bankruptcy in December 2010 as  a result of financing difficulties for project business for open-site  systems. Through this strategic acquisition CENTROTEC plans to expand  its pioneering business in the field of integrated photovoltaic and  solar thermal energy roofs, aiming at a leading position in Europe.
The  Systaic energy roof is regarded as a market-leading solution for its  design and appearance, particularly in the new-build sector, and has  already found use on both new and renovated buildings in Germany and  other European countries. In recent years the CENTROTEC companies Ubbink  and Wolf have likewise developed an integrated energy roof system that  is aimed mainly at the renovation sector thanks to the flexibility with  which it integrates existing building elements. In acquiring the  relevant intangible assets of Systaic&#x2019;s energy roof operations, which  include patents in particular, the CENTROTEC Group now has a  comprehensive product range in this pioneering market segment. CEO Dr  Gert-Jan Huisman remarked: &#x201c;Systaic&#x2019;s patents and products at a stroke  make us the leading supplier of energy roof systems in Europe. The  market volume is still small, but is developing very dynamically. In a  few years&#x2019; time roofs will not just have the purpose of protecting  buildings against the elements; they will also be an integral component  of the entire building&#x2019;s energy concept thanks to incorporating PV and  solar thermal systems. We are already serving this interesting market of  the future through our range of energy roofs.&#x201d;
The fact is that  energy roofs are still rare, even in Germany, which leads the way in  this area. But in the same way that the roof window became vastly  popular as a feature of sloping roofs in the 1970s, solar thermal and  photovoltaic modules have become an increasingly common sight on the  roofs of private houses since 2000. In combination with gas flue stacks,  roof ducts and roof windows, the result is a tapestry of features in  and on roofs. This is where integrated energy roof systems prove a major  benefit, providing a uniform, attractive surface that captures the  sun&#x2019;s rays to turn it into usable energy. In Germany alone the market  potential for these solutions is estimated at around 400,000 relevant  roof surfaces per year in the renovation sector and at between 50,000  and 60,000 in the new-build sector. Integrated energy roofs increase the  property&#x2019;s value in two different ways: by generating energy and by  giving it an aesthetically very pleasing design.
The Systaic energy  roof is explicitly an in-roof solution that replaces the conventional  roof covering in a way that matches the building. Its outstanding design  has already been acknowledged by numerous awards, including the 2009  &#x201c;Innovation Award for Architecture and Building&#x201d; sponsored by  Gesellschaft für Knowhow-Transfer and the publication AIT, the main  prize in the Gold category at the world&#x2019;s biggest building and  architecture show BATIMAT, and first prize in the category &#x201c;Photovoltaic  Installations&#x201d; for outstanding architectural design from the French  association Qualit&#x2019;EnR.
As the production and logistics operations  for business with Systaic energy roofs will have to be built up from  scratch again, the first projects are expected to be realised in the  second half of 2011.]]></content:encoded>
			<category>Pressemitteilungen</category>
			
			
			<pubDate>Mon, 18 Apr 2011 11:59:00 +0200</pubDate>
			
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			<title>New generation takes over at CENTROTEC subsidiary Wolf &#x2013; &#x2028;Alfred Gaffal moving to Supervisory Board of Wolf GmbH</title>
			<link>http://www.systaic.com/en/press/news-details.html?tx_ttnews%5Btt_news%5D=650</link>
			<description>Brilon, April 11, 2011: The largest subsidiary of CENTROTEC Sustainable AG in terms of revenue...</description>
			<content:encoded><![CDATA[Brilon, April 11, 2011: The largest subsidiary of CENTROTEC Sustainable AG in terms of revenue welcomes a new management line-up: with effect from March 31, after around ten years at the helm, Alfred Gaffal (63) handed over the running of the company to a quartet of highly experienced managers: Christian Amann (Plant/IT), Gerdewan Jacobs (Technology), Rudolf Meindl (Controlling) and Bernhard Steppe (Sales), who is also acting as Management Spokesman. 
 Under Alfred Gaffal&#x2019;s leadership, Wolf grew in revenue terms from EUR 3 million in 1973 to latterly EUR 290 million. After a brief interlude he returned to the company in 2002, and from that point on very successfully focused the Wolf Group on the future market of energy-saving and energy-efficiency solutions by launching an innovation and quality drive spanning the areas of product development, manufacturing, service, sales and marketing. &#x201c;2010 was the best year ever in the history of Wolf, and 2011 has also got off to a good start with a healthy rise in revenue,&#x201d; announced Gaffal, who is taking over as Wolf&#x2019;s Supervisory Board Chairman from Dr Helmut Stodieck, former Management Board member of TUI with responsibility for the Wolf investment. &#x201c;After 30 years at the helm of the company, Alfred Gaffal is taking his well-earned retirement and handing over a well-placed company to his successors,&#x201d; explained CENTROTEC CEO Dr Gert-Jan Huisman, commenting on the change of management at Wolf. In the past few days, Dr Huisman himself has taken over from him as head of the Climate Systems segment, which Gaffal had represented on the CENTROTEC Management Board since 2006.
<h4>Wolf GmbH (Mainburg) </h4>
Wolf Heiztechnik is one of Europe&#x2019;s leading suppliers of heating, climate control and ventilation technology. Its extensive product range includes a wide selection of heat-generating systems, as well as solar thermal systems, high-efficiency heat pumps, CHPs and heat recovery ventilation solutions. Wolf is moreover European market leader for climate control and ventilation systems with an air capacity of up to 100,000 m³/h. For further information about Wolf, visit&nbsp;<link http://www.wolf-heiztechnik.de/ _blank external-link-new-window>www.wolf-heiztechnik.de</link>. ]]></content:encoded>
			
			
			<pubDate>Thu, 26 May 2011 15:00:00 +0200</pubDate>
			
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			<title>CENTROTEC subsidiary Wolf agrees close partnership in field of energy-saving technologies in Russia &#x2013; establishment of German-Russian energy-saving centre in Yaroslavl</title>
			<link>http://www.systaic.com/en/press/news-details.html?tx_ttnews%5Btt_news%5D=651</link>
			<description> Brilon, February 14, 2011 &#x2013; Wolf GmbH, Mainburg, a subsidiary of CENTROTEC Sustainable AG,...</description>
			<content:encoded><![CDATA[<span id="1306415121012S" style="display: none;">&nbsp;</span>Brilon, February 14, 2011 &#x2013; Wolf GmbH, Mainburg, a subsidiary of CENTROTEC Sustainable AG, has been active in the Russian market for more than a decade. Following a difficult 2009, business in Russia has latterly shown an improvement, especially in the area of energy-saving solutions. An energy-saving centre with an affiliated school of engineering has now been established in partnership with the Yaroslavl government.  
Through the partnership, Wolf aims to promote the transfer of technology and the manufacturing of energy-saving systems in Russia intended mainly for use in private and commercial properties. Wolf has already enjoyed notable success in the Russian market with its high-efficiency heating, climate control and ventilation systems, as demonstrated by the large number of projects realised. These include the Kremlin in Moscow, the Olympic Village in Sochi, Sheremetyevo Airport and Prime Minister Vladimir Putin&#x2019;s private villa in St Petersburg. Through its involvement in the new engineering centre as well as additional partnerships involving the production and manufacturing of system components, Wolf's market presence in Russia is entering a new dimension and acquiring even stronger local ties.&nbsp;  
Wolf has already had large boilers with outputs of up to 58 MW manufactured under licence in Russia for quite a number of years. It is now adding the manufacturing of combined heat and power units to serve the local market, making use of Russian engines and German systems expertise. &quot;Through our activities in Yaroslavl we are making a lasting contribution to the development of technical expertise in the region and helping Russia to achieve its targets for increased energy efficiency and climate protection. At the same time we are creating jobs with a secure future &#x2013; in both Russia and Germany,&quot; declared Alfred Gaffal, Wolf Managing Director and Management Board member of CENTROTEC Sustainable AG. Bernhard Steppe, Wolf management member with responsibility for Sales, stressed the exceptional importance of this project: &quot;This close partnership has already proved to be a successful model. Wolf's excellent partnership with its Russian partners opens up huge future potential for us throughout the entire Russian market.
<h4>Wolf GmbH (Mainburg)</h4>
 Wolf Heiztechnik is one of Europe&#x2019;s leading suppliers of heating, climate control and ventilation technology. Its extensive product range includes a wide selection of heat-generating systems, as well as solar thermal systems, high-efficiency heat pumps, CHPs and heat recovery ventilation solutions. Wolf is moreover European market leader for climate control and ventilation systems with an air capacity of up to 100,000 m³/h. <link http://www.wolf-heiztechnik.de/ _blank external-link-new-window>www.wolf-heiztechnik.de</link>.
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			<pubDate>Thu, 26 May 2011 15:03:00 +0200</pubDate>
			
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			<title>CENTROTEC: Markteinstieg in Afrika über Zeichnung einer Kapitalerhöhung bei Solar 23</title>
			<link>http://www.systaic.com/en/press/news-details.html?tx_ttnews%5Btt_news%5D=652</link>
			<description>Brilon, February 01, 2011 &#x2013; Ubbink B.V., Doesburg, The Netherlands, a wholly owned subsidiary of...</description>
			<content:encoded><![CDATA[Brilon, February 01, 2011 &#x2013; Ubbink B.V., Doesburg, The Netherlands, a wholly owned subsidiary of CENTROTEC Sustainable AG, Brilon, has acquired in January a 60 % stake in the Memmingen-based solar specialist Solar23 through the latter's capital increase of EUR 0.9&nbsp;million. Solar23, founded in 2000, has 15 employees. Revenue of EUR 5 to 6 million is expected in 2011. The company is profitable. The company's strategic focus is on solar PV and solar thermal projects on the African continent, where Solar23 has a network in over 20 countries. Solar23 will be incorporated into the Ubbink Group and therefore into the Gas Flue Systems segment.
 Solar23's core skill is in the area of non-grid-connected solar systems, with its product range encompassing solar home systems, solar lighting systems, photovoltaic deep-well pumps for drinking water supply, power supplies for telecommunications systems and autonomous and grid-connected systems for village power supplies, as well as solar power plants. The company has realised a large number of projects in Africa in these areas in recent years. Through its current projects, it has built up an extensive network of partners in the principal African target markets, in some cases acquiring minority interests. On this basis, Solar23 provides an excellent springboard from which to tap into the growth markets for renewable energy and energy-saving systems in Africa, through the combination of German engineering and efficient, competitive local installation experts. The management will remain on board with its more than 15 years of experience in Africa and in handling projects; the company in addition has extensive expertise in solar thermal systems, enabling the expansion of the existing network with products from other CENTROTEC companies, such as solar thermal and biomass systems. Synergies with the solar module plant of Ubbink East Africa Ltd. which was established in 2010 and commenced operations in December 2010, will also be exploited. There is furthermore scope for giving the activities in Africa a major lift by exploiting the CENTROTEC Group's very good contacts with European non-governmental organisations. In Germany, Solar23 will be able to sell CENTROTEC's new, innovative energy roof thanks to its comprehensive expertise in PV and solar thermal systems.
 Gert-Jan Huisman, CEO of CENTROTEC Sustainable AG, remarked: &quot;The interest in Solar23 gives CENTROTEC an early foothold on the African continent. Africa, too, will witness the emergence of a growth market for energy saving and renewable energy over the next few years; we aim to address that demand with innovative energy-saving solutions, while at the same time taking serious social responsibility to preserve the earth's resources and promote sustainable development.&quot;]]></content:encoded>
			<category>Pressemitteilungen</category>
			
			
			<pubDate>Thu, 26 May 2011 15:06:00 +0200</pubDate>
			
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			<title>Montega starts CENTROTEC coverage with 25 EUR target price</title>
			<link>http://www.systaic.com/en/press/news-details.html?tx_ttnews%5Btt_news%5D=653</link>
			<description>Montega AG analyst Wais Samadzada awards a buy rating in his first rating of the shares of...</description>
			<content:encoded><![CDATA[Montega AG analyst Wais Samadzada awards a buy rating in his first rating of the shares of CENTROTEC (ISIN DE0005407506 / WKN 540750). The target price is quoted as EUR 25.
 Analysts at international banks such as HSBC Trinkaus, Berenberg, M.M. Warburg and Commerzbank as well as independent analysts like Solventis have been monitoring the shares of CENTROTEC Sustainable AG for a number of years now, and publish their ratings and recommendations on a regular basis. A new voice has now joined them: Wais Samadzada, from Montega AG. Hamburg-based Montega AG is a rapidly growing equity research house that currently analyses around 30 publicly listed small und midcap companies. The conclusion of the first study published on January 14, 2011 analysing the shares of the SDAX-listed company CENTROTEC was &quot;buy&quot;. Samadzada explained: &quot;The shares' rating with a 2011e price/earnings ratio of below 10 is still a long way off adequately reflecting the company's strong growth and resistance to cyclicality.&quot; He added that the target price based on a DCF model is EUR 25. 
 Montega quoted the following reasons for the buy rating, which include both company-specific factors and market effects: 
<ul><li>The company is set to profit directly from a recovery in building activity in Europe.<br /><br /></li><li>In Germany, the renewal rate of 3 % for the acutely obsolete installed heating systems needs to be at least doubled if the government is to achieve its climate protection targets, creating a latent obligation for regulatory intervention.<br /><br /></li><li>Controlled ventilation in new buildings and renovated older buildings is becoming increasingly important in view of their growing air tightness and more effective insulation. <br /><br /></li><li>Since 2010 CENTROTEC has been able to offer a self-developed family of heat pumps delivering outstanding efficiency values, and has had access to expertise in co-generation since 2008.<br /><br /></li><li>The debt ratios are sound, with the result that the resumption of its successful acquisition strategy can soon be expected.</li></ul>
 Dr. Gert-Jan Huisman, CEO of CENTROTEC Sustainable AG, responded: &quot;Montega is a research house that specialises in niche markets and has a distinct target group. We are consequently delighted at this new coverage for our shares.&quot;]]></content:encoded>
			
			
			<pubDate>Thu, 26 May 2011 15:08:00 +0200</pubDate>
			
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