euro adhoc: Conergy AG / Financial Figures/Balance Sheet / Conergy on schedule to add 50 percent to sales and revenue in 2006

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13.11.2006

- Conergy’s 50/50/08 growth strategy on course - Overseas sales up
almost quadrupled after nine months - Q3 EBIT up 32% over same period
last year - Sales target of EUR 800 million and P&L forecast of EUR
40 million confirmed

Hamburg, November 13, 2006 - Full order books put Hamburg-based
Conergy AG (ISIN DE 00060 40025) fully on course to increase its
total annual sales by at least 50 percent compared to the previous
year (EUR 530.2 million), to more than EUR 800 million. The
traditional end-of-year leap in sales will also see its after-tax
profit grow to EUR 40 million (previous year: EUR 27.8 million). As
in previous years, Conergy again expects a positive cash flow in
2007.

The project advances in the first nine months, which all ran
according to plan, generated a jump in sales of 53 percent, to EUR
384.5 million (same period last year: EUR 250.9 million). By the end
of the year, further solar, wind and bioenergy projects with a sales
volume of more than EUR 390 million will be up and running according
to plan. To substantially support the strongly growing project
business and increase overseas sales, the workforce was almost
doubled on October 1 to 1,340 (same period last year: 696).

Thanks to the exponential growth in the high-margin overseas business
and the large projects running according to plan, Conergy is on
course to meet its set goals and not to build up stocks of solar
modules while purchase costs are on a downward trend. The Group’s
cumulative gross margin in the first three quarters, up to 19.3%
(same period last year: 17.9%), shows the strength of the company’s
business model compared to market developments. This produced an
improved EBIT in Q3 of 32% over the same period last year. Working
capital rose to its highest-ever level in the third quarter, with
comfortable financing behind it. As a result of year-end improvements
to terms of delivery in purchasing and the financing of major
projects in construction, it will again sink to less than 20% of
sales.

International 50/50/08 growth strategy on schedule In overseas
business, sales in the first nine months had already increased almost
fourfold, to EUR 120.2 million (same period last year: EUR 34.1
million). In Germany too, sales grew by around 20% to EUR 260.4
million (same period last year: 216.8 million). Besides the growth in
overseas sales to a current level of 31%, sales of solar thermal
products, bioenergy and wind-generation projects had increased almost
tenfold in the first nine months compared to the same period last
year, to EUR 72.7 million. This corresponds to 18.9% of total sales
in the first nine months. This development demonstrates that Conergy
is well on the way to generating half of its sales outside of Germany
as early as 2008, and another half beyond its core business of
photovoltaics.

About Conergy With an expected turnover of more than 800 million
euros in 2006, Conergy is Europe’s largest solar energy company. It
is also one of the world’s top providers in other rapidly growing
fields of renewable energies such as bioenergy. The company pursues a
client-focused global growth strategy that aims to offer each energy
consumer worldwide the most appropriate technology in the attractive
markets for renewable energies. The Conergy Group is now represented
on five continents with its own branches and has a current workforce
of 1,400.

end of announcement euro adhoc 13.11.2006 07:29:21
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ots Originaltext: Conergy AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Conergy AG
Thorsten Vespermann
Head of Corporate Communications
Anckelmannsplatz 1
D-20537 Hamburg
Phone: +49 (40) 237102171
Fax: +49 (40) 237102405
Mobile: + 49 (172) 451 19 67
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: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade


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