euro adhoc: Conergy AG / quarterly or semiannual financial statement / Conergy grows according to plan: profitably and with even greater proportion abroad

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09.08.2006

- Management sees Conergy slightly ahead of plan for jump in sales
and earnings in 2006 - At half-year, foreign sales have tripled -
Group’s accumulated earnings at half-year are in the black - At least
50% increase in growth expected for sales and earnings

Hamburg, 9 August 2006. The Hamburg firm Conergy AG (ISIN DE 00060
40025) is further increasing its worldwide market share with the goal
of becoming the world’s leading system provider for renewable energy.
After numerous construction sites became free of frost and snow,
operational business rose noticeably in the second quarter. The
tripling of sales abroad, up to 60.5 million euros (period in
previous year 20.4 million euros), was the principal factor leading
to the fact that total sales for the half-year showed a substantial
increase, up 62 per cent to 245 million euros (period in previous
year 150.8 million euros). Conergy has thus exceeded targets, since
it was planned to increase total yearly sales by least 50 per cent
compared to last year (530 million euros) to more than 800 million
euros.

Conergy now ranks among the European top five for solar heat

Conergy is today already the European solar energy provider with the
highest sales figures. Thanks to persistent expansion of sales
networks and targeted acquisitions, Conergy is moving towards
becoming one of the leading providers of solar heat and bioenergy on
the continent. Growth markets, which are being driven by oil prices
in particular. Conergy is thereby attaining significant synergy
effects in core customer groups which help to ensure sustainable
profitability, win new customers, and provide stability in the face
of market fluctuations. Conergy plans to generate more than 50 per
cent of total sales outside of the still-growing core business of
photovoltaics, as well as abroad, as early as 2008. To achieve this,
eleven new sales points have opened around the world since the
beginning of the year and eight companies have been acquired. Conergy
is thus continuing to increase its proximity to customers in the USA,
Spain, Germany, Australia, Austria and Switzerland. Thanks to new
market entries in Italy, Singapore, Brazil, Belgium and Cyprus,
Conergy is currently already represented in 22 countries on five
continents. Targeted acquisitions mean that the worldwide sales
effort has the appropriate technologies available, in addition to
solar energy and bioenergy, in order to offer a range of renewable
products adapted to the extremely diverse regional requirements for
heating. Besides thermosyphoning systems, fin absorbers and
drain-back technology for warm water and as heating support, Conergy
also offers its customers geothermal heat pumps and Enerbus, an
energy management system for efficient heating, cooling and air
conditioning of buildings using a combination of different renewable
energy systems.

Conergy shows half-year profits despite investments for growth

The accumulated group earnings for the semester, with an EBIT
totalling 8.2 million euros, have thus completely compensated for
the extra costs incurred by the investments necessary for the
expansion of business operations already in the second quarter. To
prepare for the second semester, which will bring increased sales due
to system installation, Conergy carried out the main investments
needed in the first half-year. The number of employees (FTE) has thus
more than doubled in comparison to the previous year (510) to 1,091,
which is partially due to the increased real net output ratio.
Despite corresponding higher costs and traditionally lower sales in
the system installation business in the first semester, a positive
accumulated result for the group (0.5 million euros) has already been
attained. At the end of the year, Conergy expects sales to exceed 800
million euros and profits after tax to increase to more than 40
million euros. A variety of large projects for renewable energy are
already being implemented to this end. Thanks to the substantial
expansion of its own production, global sourcing and its unique
worldwide customer-oriented sales network Conergy considers itself
fully prepared to flexibly adapt to regional price fluctuations
around the world.

Conergy expects additional growth and profit potential

Conergy expects, as was previously the case, to benefit to a greater
extent than the competition from the tendency towards decreasing
procurement costs for regenerative system components. "Conergy
consistently concentrates on its customers. As market leader, we use
our practical experience and our purchasing power for product
innovations, which offer customers added value and further improve
our competitiveness. The current investment in new products, sales
and procurement is laying the foundations for continuing our
disproportionately high growth", declared Hans-Martin Rüter, Chairman
of the Board and founder of Conergy AG. As the basis for this growth
its own production capacity has been correspondingly multiplied and
with regard to procurement, in addition to sufficient quantities of
solar modules from more than 20 suppliers around the world, supplies
of extremely pure solar silicon in increasing quantities have been
ensured. Furthermore, sales of self-developed and manufactured solar
system components such as inverters, solar collectors, small wind
power systems and mounting systems are in constant progression.
Conergy expects even more substantial benefits from its further steps
towards an increased real net output ratio for renewable system
technologies as early as 2007.

end of announcement euro adhoc 09.08.2006 07:11:28
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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,
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