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Conergy AG

euro adhoc: Conergy AG
quarterly or semiannual financial statement
Conergy increases revenues in the first half year to EUR 418 million, up 71%

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
6-month report
15.08.2007
Conergy increases revenues in the first half year to EUR 418 million,
up 71%
- Growing domestic revenues have been surpassed by foreign sales for 
the first time - Positive consolidated net income at the half-year 
mark - Working capital improved by EUR 83 million in the second 
quarter - Positive net cash flow from operations after investments of
EUR 44 million - Orders on hand rose to more than EUR 1.2 billion - 
Production of solar modules in Frankfurt/Oder starts on schedule
Hamburg, Germany, 15 August 2007. Listed Hamburg-based Conergy AG 
(ISIN DE 00060 40025) increased half-year revenues by 70.6 percent to
EUR 418 million (previous year: EUR 245 million). This is the first 
time that foreign sales -  which more than tripled year-on-year from 
EUR 60.5 million to EUR 223.6 - have exceeded revenues in Germany, 
which also gained slightly. Conergy already offers its systems for 
utilising solar, wind and bioenergy in 26 countries via three brand 
worlds focused on end customers, the trade and investors. 
Outperforming our own expectations, photovoltaics grew by 80.3 
percent and remains the Group's core business and growth engine. 
Revenues in the other technologies increased by 36.8 percent.
Positive consolidated net income for the first six months of the year
Earnings before interest and taxes (EBIT) improved from EUR -6.1 
million in the first quarter to EUR +13.6 million in the second 
quarter of 2007 in tandem with the growth of our revenues as the year
progresses. The gross profit margin rose from 16.8 percent in the 
prior-year period to 21.1 percent in the first half year of 2007, 
already offsetting at the half-year mark the first quarter´s 
traditionally negative consolidated net income (EUR -4.9 million). 
Consolidated net income after interest and taxes was EUR 1.5 million 
for the first six months of the year. Any analysis of our quarterly 
results must consider the seasonal nature of the system construction 
business. Because construction on many large projects is launched in 
the spring, Conergy usually generates about 50% of its revenues in 
the fourth quarter.
Orders on hand increase to EUR 1.2 billion
Orders on hand surpassed the billion euros mark for the first time 
ever at 30 June 2007, rising to EUR 1.238 billion. Almost all of 
these orders are scheduled to be executed within the next 18 months. 
Sixty-two percent of these orders are from abroad, where Korea and 
the United States currently are the markets with the highest growth.
Improved working capital and positive operating cash flow after 
investments
The measures that Conergy initiated with the aim of optimising 
working capital have already resulted in an improvement of working 
capital by EUR 83 million, surpassing the Company's own target of EUR
70 million. Conergy posted positive net cash flow of EUR 44 million 
in spite of investments of EUR 37,4 million in the second quarter and
expects this positive trend to continue. Equity of EUR 326 million 
and a syndicated credit line of EUR 600 million provide the Conergy 
Group with a solid basis for financing its planned growth in years to
come.
Production of solar modules in Frankfurt/Oder launched as planned
Both the costs and the construction of our own solar wafer, cell and 
module production in Frankfurt/Oder are on target. The first modules 
from this factory have been undergoing international certification 
processes since May 2007 such that, beginning in the autumn of this 
year, we will be able to install the 50 megawatts that are planned 
for 2007 from our own production on numerous construction sites. 
Demand for Conergy´s innovative, high-quality premium modules already
exceeds current production volumes.
Conergy optimises its structures to accommodate further growth
The Conergy Group had 2,255 employees at 30 June 2007. This 
corresponds to an increase of 1,164 jobs within the past 12 months. 
Besides adding 573 new jobs in Germany, the number of engineers and 
sales specialists abroad almost tripled to 908. Hence Conergy has not
only prepared for imminent growth but has also created many jobs at 
its new and expanded production facilities.
end of announcement                               euro adhoc 15.08.2007 06:54:38

Further inquiry note:

Thorsten Vespermann
Tel.: +49 (0)40 237 102 171
E-Mail: t.vespermann@conergy.de

Branche: Energy
ISIN: DE0006040025
WKN: 604002
Index: TecDAX, Technologie All Share, CDAX, HDAX, Prime All Share,
Midcap Market Index
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade

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