DGAP-News: COLEXON Energy AG: Dynamic growth of Q1 earnings despite difficult market conditions

COLEXON Energy AG / Interim Report/Miscellaneous

26.05.2009 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- EBIT increased by one third to 1.26 million EUR
- Today's annual general meeting will resolve upon the financing of the
envisaged takeover of Renewagy

COLEXON Energy AG, Hamburg (WKN 525070, ISIN: DE0005250708), one of the
leading manufacturer-independent system integrators of high-performance
thin-film solar power plants, has started dynamically into the current
fiscal year despite the current difficulties in the photovoltaic market.

For the first three months of financial year 2009, which is traditionally
considered as the weakest quarter in the solar industry, COLEXON reported
revenues of 21.2 million EUR (2008: 26.3 million EUR). EBIT increased by
around one third to 1.26 million EUR compared with the same period in the
previous year (0.95 million EUR). The EBIT margin thus improved to 5.9
percent compared with 3.6 percent during the same period in the previous
year.

In the first quarter of 2009, the photovoltaic industry was dominated by
declining sales, increasing competitive pressure and depressed earnings.
The tense situation in the financial sector contributed considerably to the
deterioration of the macroeconomic environment. Short availability of
liquid funds for project financing was considered as a considerable barrier
to growth.

Furthermore, German solar companies suffered from the long winter and the
resulting bad weather conditions. The aggravated conditions mainly affected
the business segment project development. In the trading segment the
company could increase revenues significantly compared with the same period
in the previous year.

'In the context of the difficult market conditions, we are very satisfied
with the first quarter results', said Thorsten Preugschas, CEO of COLEXON.
He added: 'We continue to expect in positive business developments for 2009
and 2010.'

Today, the shareholders of COLEXON will be asked to approve the financing
of the planned friendly takeover of Renewagy A/S at the annual general
meeting. The voluntary takeover offer for the Danish operator of solar
power plants, which was launched officially on May 13, 2009, is considered
a strategic milestone for the COLEXON Group to establish itself as an
independent power producer (IPP) of solar energy.

'In the light of the envisaged combination with Renewagy A/S, we will
continue our future oriented and risk optimized corporate policy. COLEXON
will offer a higher financial security and improved growth perspectives
through predictable free cash flows', Thorsten Preugschas added.

The complete quarterly report can be downloaded at the investor relations
site of www.colexon.de.

About COLEXON Energy AG
The international COLEXON group is one of the leading
manufacturer-independent system integrators in the photovoltaic sector. The
company designs and installs turnkey photovoltaic plants for institutional
and private investors in Germany and abroad. COLEXON is specialized in the
realization of return optimized and large scale photovoltaic projects (from
100 kWp onwards). The target groups of COLEXON are institutional investors
as well as agricultural, industrial and public building owners. COLEXON is
listed in the Prime Standard at the German Stock Exchange in
Frankfurt.

Contact COLEXON
Jan Hutterer
COLEXON Energy AG
Große Elbstraße 45
22767 Hamburg
Germany
Tel. +49 (0)40. 28 00 31-100
Fax: +49 (0)40. 28 00 31-101
E-mail: ir@colexon.de
www.colexon.com

COLEXON Energy AG
ISIN: DE0005250708
WKN: 525070
Prime Standard, Regulated Market Frankfurt


DGAP 26.05.2009 
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Language:     English
Issuer:       COLEXON Energy AG
              Große Elbstraße 45
              22767 Hamburg
              Deutschland
Phone:        +49(0)40 280031-0
Fax:          +49(0)40 280031-101
E-mail:       k.friedrich@colexon.de
Internet:     www.colexon.de
ISIN:         DE0005250708
WKN:          525070
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Stuttgart, München, Düsseldorf
 
End of News                                     DGAP News-Service
 
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