euro adhoc: Conergy AG
Financial Figures/Balance Sheet
Conergy specifies
preliminary revenue and earnings figures for 2006
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
23.02.2007
The Conergy AG management board has completed the IFRS accounts for the financial year 2006. All figures are still preliminary and unaudited. The approval of the supervisory board will take place in March 2007 after the auditors have completed their work. There will be a press conference and an analysts and investors meeting to discuss the figures on 30 March 2007 in Frankfurt am Main.
According to these preliminary figures, Conergys group revenues increased by 42% to EUR 752.2m (2005: EUR 530.2m) in 2006. Revenues outside Germany more than trebled to EUR 291.0 (2005: EUR 75.6 Mio.) and accounted for 39 % (2005: 14%) of group revenues; the share of revenues from solar thermics, wind energy and bioenergy rose to 26 % (2005: 12%). Conergy has thus successfully continued to implement its growth strategy 50/50/08. As previously reported, delayed deliveries for some projects at the end of December 2006 led to a shift of planned revenues in the region of EUR 50m from 2006 into 2007.
Group net profit increased by 8.3% to EUR 30.1m (2005: EUR 27.8m). The gross profit margin increased significantly to 19.3% in 2006 (2005: 16.1%). Expenses of EUR 12.2m including investments into new complementary technologies and into the new fully integrated solar wafer, cell and module production put pressure on earnings, as did expenses into new markets through amongst others the foundation of 20 new subsidiaries (EUR 8.7m). These special operational expenses are partly compensated by non-recurring income of EUR 15.0m from the sales of land. Conergy expects that the investments in new markets and in the expansion of the product range in solar thermics, wind energy and bioenergy will result in a profit contribution as early as this year. Furthermore, there are indications that the fast-growing non-German business and lower purchase prices in the field of photovoltaics will boost margins.
As at the end of February, orders in hand have more than trebled in all business areas within the group and account for approximately 70% of the planned revenues of EUR 1.25bn in 2007.
end of announcement euro adhoc 23.02.2007 23:35:02
Further inquiry note:
Thorsten Vespermann
Tel.: +49 (0)40 237 102 171
Mobil: +49 (0)172 451 19 67
E-Mail: t.vespermann@conergy.de
Branche: Energy
ISIN: DE0006040025
WKN: 604002
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Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
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