Conergy plans 50% leap in turnover in 2006

With the publication today of its 2005 annual report, Hamburg-based Conergy AG (ISIN DE 00060 40025) has also outlined its future strategy for growth. The Board of Directors is expecting an increase in turnover of at least 50% for the 2006 financial year, to more than EUR 800 million (2005: EUR 53.2 million). This is a clear sign of Conergy’s intention to increase its global market share in the regenerative-energy systems markets, currently enjoying growth rates of around 25%. Much of the additional turnover will come from photovoltaics, solar, bioenergy and wind-energy solutions. Conergy has long set its sights on these megatrends, having already introduced a suitable range of products, coupled with a five-fold increase in its production capacities in Rangsdorf just outside of Berlin. The product lines offer intelligent systems technology designed to meet the world’s rapidly rising energy requirements by procuring electricity, thermal energy and solar cooling from a host of different regenerative resources. Conergy not only develops and produces flat collectors for solar-powered thermal and cooling solutions, it also makes inverters for the conversion of solar direct current into household alternating current, not to mention patented frame technology for regenerative-energy systems, as well as small wind turbines that have proven such a success in practice around the world - particularly for self-sufficient energy-supply solutions used in combination with solar-powered systems.


Conergy plans growth to become one of the world’s leading suppliers of regenerative systems

By 2015, Conergy expects to have quadrupled its market volume from around USD 40 billion at present to more than USD 300 billion. “We already enjoy close proximity to the customer as we are represented on all five continents. This allows us to consistently utilise the opportunities currently open to Conergy in markets which, even today, are still highly fragmented. Our wide range of bespoke regenerative products enables us to plan further profitable growth, coupled with a sharp expansion in our market shares,” explained Hans-Martin Rüter, Chairman of the Board and founder of Hamburg-based Conergy AG. In readiness, Conergy has - in the past year alone - set up eight new distribution outlets across the world to look after its customer-focussed brand range. From California, Mexico and Portugal through to Italy, India and Australia: “We are working flat out to increase the rate of new sites and acquisitions in the most lucrative fields of the world’s regenerative energy market“, Rüter continued.


Conergy quadruples non-German turnover in 2005

The 2005 financial year demonstrates that in the world’s emerging renewable energy markets Conergy is growing successfully in ever-expanding areas of business. Turnover is but one example of this: up by 86% to EUR 530.2 million (previous year: EUR 284.8 million), with a disproportionately large rise in its result after taxes to EUR 27.8 million (previous year: EUR 11 million). At EUR 75 million, the company managed to more than double the share of non-German turnover in 2005 (2004: EUR 18 million) to around 14% (2004: 6%). Of this, EUR 33 million was attributable to the Spanish market and EUR 20 million to the US market. Despite the fact that domestic sales are expected to increase further in 2006, non-German sales are expected to make up more than 25% of total turnover in the new financial year.


Conergy develops bespoke regenerative systems engineering from solar, wind and bioenergy solutions

Regenerative systems technologies will, in future, be used in ever more diverse ways to cover the global energy requirement, increasingly being geared to the natural resources available locally. Conergy is expecting that, from 2010, industrial solar-thermal installations and large-scale wind and bioenergy projects will make up about 40% of the global regenerative market. The proportion of decentralised systems for self-sufficient energy is forecast to grow to around 25%. Conergy’s innovative hi-tech product lines are designed to boost efficiency and improve flexibility in a whole host of different applications. In complementary technologies, which falls within the core “Photovoltaics” business, Conergy achieved additional turnover in 2005 of more than EUR 60 million (2004: EUR 10 million), its share of the market rising to more than 10% (2004: 3%). In 2006, Conergy is planning further sharp increases in its market share (to 20%) through solar-thermal, wind and bioenergy solutions. To ensure that the company develops its core photovoltaics business - where demand is currently outstripping supply - more rapidly than the world market in general (across the globe, rises of around 25 % are currently being seen), Conergy has secured deals to source high-grade solar silicon from suppliers in a range of different countries, ensuring improved utilisation of production capacities.


50/50/08: Conergy’s growth target up to 2008

Conergy is planning to secure more than 50% of its total turnover from non-German sales by as early as 2008. In addition, its highly regionalised product range, which takes local energy requirements into account, is also expected to earn more than 50% of turnover outside the existing core photovoltaics business. “Even now, regenerative system solutions provide more energy worldwide than, say, all nuclear power plants. Intelligent energy mixes are increasingly being used to cater for the rapid growth in the need for electricity, thermal solutions and cooling systems. At Conergy, these are consistently being geared to available natural resources” added Hans-Martin Rüter, Chairman of the Board and founder of Conergy AG, as he explained Conergy’s global strategy for growth.

Contact at Conergy:

Conergy AG
Thorsten Vespermann
Head of Corporate Communications

Anckelmannsplatz 1
20537 Hamburg
Germany

Phone: +49 (0)40 23 71 02-172
Fax: +49 (0)40 23 71 02-148
E-mail: press@conergy.com">press@conergy.com
Internet: http://www.conergy.com

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