DGAP-Adhoc: Conergy AG: Conergy achieves 2011 sales guidance. EBITDA below expectations due to one-off effects

Conergy AG  / Key word(s): Change in Forecast/Miscellaneous

24.01.2012 19:14

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Conergy achieves 2011 sales guidance. EBITDA below expectations due to
one-off effects

Hamburg, 24 January 2012 - Based on preliminary figures, Conergy AG,
Hamburg, for the year 2011 achieved sales of around EUR 755 million which
is in line with the communicated company guidance. Due to one-off effects
as well as a higher than expected price decline in the fourth quarter the
operating result before depreciation (EBITDA) for 2011 amounted to EUR -80
million to  EUR -85 million and is therefore below the guided EUR -50
million to EUR -55 million.

The company continued to pursue its strategic realignment in the final
quarter of 2011: the well-considered decision to reduce the inventory level
at year end to a minimum through sell-off, and final restructuring measures
at the solar module production facility in Frankfurt (Oder) had a negative
impact on EBITDA. Additionally, write-downs on receivables and delays in
project financing, especially in Greece, Spain and Italy, burdened EBITDA.

Operating cash flow was positive in the fourth quarter.

For the year 2012, the Management Board expects a modest decline in sales
as well as an improved EBITDA such that it is slightly in the black.




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 


24.01.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      Conergy AG
              Anckelmannsplatz 1
              20537 Hamburg
              Germany
Phone:        +49 (0)40 27 142-1000
Fax:          +49 (0)40 27 142-1100
E-mail:       info@conergy.de
Internet:     www.conergy.de
ISIN:         DE000A1KRCK4
WKN:          A1KRCK
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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