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Conergy boosts second-quarter sales by 88% to EUR 105 million

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09.08.2005
Hamburg-based Conergy AG has expanded its position as Europe's solar
company with the strongest sales. Sales increased by 88% to EUR 105
million in the second quarter of 2005 (Q2/2004: EUR 56.2 million).
Sales for the first six months totalled EUR 150.8 million, up 80%
compared to the same period of 2004 (EUR 83.6 million). At the same
time, Conergy improved its earnings before taxes (EBT) and IPO costs
to EUR 6.3 million in the second quarter and EUR 9.1 million in the
first half-year. This corresponds to an increase of 122% (H1/2004:
EUR 4.1 million). As the second half of the year traditionally is
much stronger than the first half Conergy sees itself well on its way
to reaching its full-year targets of EUR 500 million in sales and EUR
27 million in profits.
In addition to growing its earnings as planned, Conergy was able to
reach some key milestones in strategically positioning the company.
Successful market entries in the United States, Australia, Mexico and
Portugal have given Conergy a presence with close customer proximity
on four continents. Foreign sales quadrupled to EUR 20.5 million in
the first six months (H1/2004: EUR 4.9 million), with positive
six-month EBT of EUR 0.9 million (H1/2004: EUR -0.1 million)
internationally. The past quarter also saw Conergy's successful entry
into the lucrative bioenergy product segment by acquiring MAT-tec
GmbH. Farmers are a key target group for the sale of solar products
from Conergy. The company is leveraging existing customer contacts to
quickly become a market leader in Germany in this future-driven
technology as well. The takeover of Australian wind farm project
developer Taurus Ltd., the acquisition of European onshore wind farms
and the recruitment of experienced industry experts for the
construction of large-scale solar thermal power plants has enabled
Conergy to develop additional product segments for the sale of
renewable energy funds. This reduces Conergy's exposure to temporary
demand fluctuations in regional markets and generates further sales
and earnings potential in lucrative and complementary business
segments. "Our goal is to boost both the share of foreign sales and
the share of non-photovoltaic products to more than 50% of total
sales by 2008," says Hans-Martin Rüter, CEO and founder of Conergy
AG. "We will also continue to increase our speed of innovation in our
solar core business," says Rüter.
In the first half-year, Conergy launched self-developed off-grid and
grid power inverters as well as improved pitched roof mounting
systems. "These products, most of which are protected by patents,
offer even more value for our customers, which has resulted in
above-average sales growth," says Rüter. In order to meet the
strongly growing demand in the future, Conergy is currently in the
process of doubling the production area at its Rangsdorf site near
Berlin. At the end of the first half of 2005, Conergy had a total of
554 employees, up 171 employees compared to the end of 2004. This
number will continually grow due to new hires in Germany and market
entries in additional countries such as India and Italy.
end of announcement                               euro adhoc 09.08.2005 06:30:00

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: Prime Standard, TecDAX, Technologie All Share, CDAX, HDAX,
Prime All Share, Midcap Market Index
Börsen: Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / official dealing

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Plus de actualités: Conergy AG