COLEXON Energy AG / Final Results
26.03.2010 09:02
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Guidance for turnover and EBIT for 2009 clearly exceeded
- Strong growth in EBIT of EUR 18.5 million and turnover of EUR 188.1
million (pro-forma)
- Acquisition of Renewagy in August 2009 augments strategy and financial
performance
- Continuous growth despite challenging circumstances on the solar market
Hamburg, March 26, 2010 - COLEXON Energy AG, ('COLEXON' or 'the Company')
Hamburg (WKN 525070, ISIN DE0005250708) today publishes its annual results
for the business year ended 31 December 2009.
COLEXON, the solar EPC and IPP company, clearly exceeded the forecast
turnover of EUR 160 - 180 million and the EBIT of EUR 16 - 18 million
despite challenging circumstances on the solar PV market.
Compared to the COLEXON results of 2008 the turnover increased by 32
percent to EUR 188.1 million (pro forma), with earnings before interest and
taxes (EBIT) achieving an even more pronounced growth of 52 percent to EUR
18.5 million (pro forma). COLEXON has thereby confidently continued the
trend for growth in an industry currently undergoing a difficult phase.
This successful development is based on a business model that allows the
company to react to changes in the market in a flexible and efficient
manner.
The wholesale sector provided the biggest contribution to turnover with EUR
127.8 million for the business year 2009. The company placed a total of 91
megawatts in solar modules - an increase of 62.5 percent. While the project
sector (EPC) contributed turnover of EUR 48.4 million, it followed a
general trend seen in the industry caused mainly by the liquidity squeeze
on certain customers and the restrictive loan policies of the banks. The
addition of the solar power plant operation (IPP) business area gained
through the merger with Renewagy in August 2009, provided COLEXON with a
turnover of EUR 17.8 million and an EBIT contribution of EUR 7.3 million,
giving further strength and stability to the group. As a result, COLEXON
was able to achieve a positive EBIT growth, despite shrinking growth
margins in the solar industry.
The representation of the results for the 2009 business year is shaped by
the Renewagy take-over, which was recorded as a reverse takeover. Due to
International Financial Reporting Standards (IFRS), the turnover for the
EPC and wholesale divisions of the 'old' COLEXON prior to the takeover are
not accounted for in the period 1 January 2009 to the date of the takeover
on 13 August 2009. For the period from 14 August to 31 December 2009, both
the Renewagy and the 'old' COLEXON results were taken into account.
According to IFRS, the 'new' COLEXON therefore exhibits a turnover of EUR
117.2 million with EBIT of to 17.8 million for the full year according to
IFRS. Operating cash flow under IFRS for the full year amounted to EUR 28.8
million.
The annual report 2009 is available for download at the COLEXON website
(www.colexon.com) under the section 'Investor Relations'.
Kontakt:
COLEXON Energy AG
Jan Hutterer
Email: hutterer@colexon.de
Tel: +49 40 280031-0
Fax: +49 40 280031-101
26.03.2010 09:02 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: COLEXON Energy AG
GroÃe ElbstraÃe 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, München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: COLEXON Energy AG: COLEXON clearly exceeds forecasts and presents strong growth in turnover an EBIT
| Source: EQS Group AG