Conergy raises outlook for 2010 after significantly improved operative results in the second quarter

Conergy AG has published its preliminary results for the second quarter of 2010. Compared to the same quarter of 2009, the company raised its sales by about 50 percent to €239.4 million from €160.9 million. At the same time, EBITDA increased by €41.4 million to €18.5 million, compared to a loss of €-22.9 million in the second quarter of last year, making this the third consecutive quarter of operational profitability for Conergy.

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EBIT rose by €40 million to €11.7 million. At €7.9 million, the company also posted the first positive net result again in its continuing operations. Based on this favorable development and the assumption of a continuously growing overall market, Conergy has raised its full-year EBITDA outlook to €30 million to €40 million. The company had previously projected EBITDA in the low double-digit millions.

“These positive figures provide proof that the restructuring is now bearing fruit in three consecutive quarters. We have managed to improve our performance across the board and are also posting positive bottom-line results again. The past years’ hard work is paying off,” said Dieter Ammer, Conergy’s management board chairman.

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