Conergy AG general meeting decides on dividends and issue of free shares

Hamburg, 29th May 2006 - Hamburg’s Conergy AG will pay its shareholders dividends of 0.30 euros per share in the first year after its initial public offering. “Conergy is growing profitable and is continuing to expand its worldwide market shares. We are happy that our shareholders confirm our market value and regard Conergy above all as a growth stock. To maintain our strong expansion, we plan to continue to invest a major part of our annual net profit into developing our market shares”, explains Hans-Martin Rüter, chairman of the board and founder of Conergy AG.

Furthermore, the general meeting decided to implement a stock split. By increasing the share capital of Conergy AG from the company’s own resources from 10 million euros to 30 million euros, 20 million new individual share certificates with dividend rights will be issued from January 1, 2006. With each share, shareholders will be given two further shares for free.


Conergy is expecting 50% turnover growth for 2007 and 2008

Conergy is expecting an increase in turnover for the current financial year of at least 50% to more than 800 million euros (2005: 530.2 million euros). For 2007 and 2008 Conergy will continue its undiminished growth with sales increases of around 50% per year. This further strengthens worldwide market shares in the regenerative energy system markets, which are growing by around 25%. Conergy is also expecting to increase its margins and thus increase annual net profits.


Conergy is becoming a worldwide leading supplier of regenerative systems

Conergy currently employs around 1,000 members of staff on five continents. The management team is also international. Experienced regional heads are ready for further expansion in North and South America, the Mediterranean, Asia and Australia. They analyze regenerative energy requirements, which greatly vary from one region to the next, and customer potential for the Conergy brand worlds. In order to consistently develop international growth, last year Conergy took over six companies and set up eight new branches worldwide. “To continue to develop our worldwide market shares, we aim to further accelerate growth this year. In addition to opening up ten new international sales branches, we are also planning to assimilate ten further companies into Conergy, in order to strengthen our position as regenerative technology leader on the world market“ Hans-Martin Rüter reports.


Conergy offers regenerative systems technology for intelligent energy mix

Conergy has the highest turnover of all European solar companies and is an internationally leading supplier of other fast-growing areas of renewable energies, such as bioenergy. The company pursues a global growth strategy and aims to provide all energy users worldwide with the best regenerative systems technology possible. Internationally, energy requirements for power, heating and cooling vary considerably. A number of studies confirm that photovoltaics, solar thermal products, and wind and bioenergy have great growth potential while energy requirements are rising and fossil resources becoming scarce. Conergy has prepared its product range for these major trends and increased its capacity five-fold at the manufacturing plant in Rangsdorf near Berlin. Conergy develops and produces solar flat-plate collectors for heating and cooling from sunlight, inverters for the conversion of solar direct current into network-compatible alternating current and a patented mounting technology for regenerative energy systems. Conergy also offers small wind energy systems, which have proven to be of value worldwide specifically for self-sufficient energy supply in combination with solar systems.

Contact at Conergy:

Conergy AG
Anckelmannsplatz 1
20537 Hamburg
PR Department: Mr. Thorsten Vespermann
Phone: +49 (0)40 / 23 71 02-171 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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