euro adhoc: Conergy AG / Financial Figures/Balance Sheet / Conergy announces preliminary revenues and earnings guidance

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11.01.2007

Conergy announces preliminary revenues and earnings guidance

The Hamburg-based solar energy company expects a 40% increase in
revenues in 2006 and higher net profit

Conergy AG today announced that according to initial, preliminary
figures, the company has increased 2006 revenues by more than 40% to
over EUR 750m (2005: EUR 530.2m) and was thus able to consolidate its
position as the largest European solar energy company. Delayed
deliveries of solar modules and wind turbines led to delays in some
projects and resulted in a loss of revenues of approximately EUR 53m,
which will now be booked in 2007 instead. Conergy was thus unable to
achieve its goal of revenues of EUR 800m. However, Conergy now
expects correspondingly higher 2007 revenues - compared with previous
expectations - of EUR 1.25bn, representing an increase of over 60%.
At the end of January, Conergy’s order book stood at EUR 813m, more
than three times the level at the same time last year, supporting the
company’s revenue expectation for the full year.

Sales outside Germany rose more strongly than expected and now
account for 38% of the total (2005: 14%). These figures confirm that
Conergy is on target to achieve 50% of its revenues outside Germany
and 50% outside the photovoltaics core business from 2008 onwards.

As a result of these delayed projects, net profit in 2006 is expected
to be above the level of 2005 (EUR 27.8m) but below previous
expectations of EUR40m. The profits from the delayed projects will be
booked in 2007 and are expected to lead to a higher than previously
expected net profit of around EUR60m. Additional costs incurred in
2006 for the construction of the fully integrated solar wafer, solar
cell and solar module plant in Frankfurt/Oder will be more than
compensated by non-recurring profits. Conergy expects that 2007
earnings will be higher as a result of higher margins in the
high-growth non-German business and by higher earnings in the areas
of solar thermal and bioenergy.

end of announcement euro adhoc 11.01.2007 18:22:43
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ots Originaltext: Conergy AG
Im Internet recherchierbar: http://www.presseportal.de

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: 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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