Conergy AG

euro adhoc: Conergy AG
Quarterly or Semiannual Financial Statements
Conergy boosts second-quarter sales by 88% to EUR 105 million

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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.

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ots Originaltext: Conergy AG
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Further inquiry note:
Thorsten Vespermann
Tel.: +49 (0)40 237 102 171

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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