Conergy AG / Key word(s): Forecast 15.06.2011 18:52 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. --------------------------------------------------------------------------- Conergy retracts annual forecast for 2011 Within the scope of its 2010 annual reporting, Conergy AG projected that sales would rise to over one billion euros and its EBITDA would be in the mid-double-digit millions for the 2011 fiscal year. Based on the development of business to date, the company does no longer maintain its forecast. As reported, the industry-wide weak Q1 2011 led to a significant decline in gross profit at Conergy, making it uncertain whether the annual targets would be met. When publishing its results for Q1 2011, Conergy thus made achieving its sales and earnings forecast dependent upon the development of the second quarter. The first months of Q2 2011 saw no significant improvement in the international solar markets that would have been able to compensate for the overall disappointing first quarter. Even though signs of a market revival can once again be seen, in light of the course of business to date as well as the unpredictable further development of the market, the Management Board of Conergy AG is retracting its sales and earnings forecast for the 2011 fiscal year. Conergy remains on target regarding the implementation of its refinancing, which the Management Board expects to successfully conclude by the end of July. Contact: Christoph Marx Head of Investor Relations Conergy AG Anckelmannsplatz 1 20537 Hamburg Germany T +49 40 271 42 - 1634 F +49 40 271 42 - 1639 15.06.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Conergy AG Anckelmannsplatz 1 20537 Hamburg Deutschland Phone: +49 (0)40 27 142-1000 Fax: +49 (0)40 27 142-1100 E-mail: info@conergy.de Internet: www.conergy.de ISIN: DE0006040025 WKN: 604002 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Conergy AG: Conergy retracts annual forecast for 2011
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