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Conergy Increases Turnover by 67 % to EUR 122 million

Conergy Group has transformed itself over the last year into a leading supplier of solar systems and components in Europe. With approximately 30 megawatts of photovoltaic capacity, the company had a market share in Germany of significantly more than 20 percent. Consolidated sales increased by 67 % to EUR 122.2 million in comparison to the previous year's figures.

"In addition to the substantial rise in turnover, we are also proud of the company's positive overall result, with profits totaling millions of euro. Since the beginning of the year, we have hired more than 50 additional employees," declares Hans-Martin Rüter, Chief Executive Officer of Conergy.

At the end of November, solar-thermal production commenced at Landshut, marking Conergy's successful entry into a complementary business segment. The threefold increase in floorspace dedicated to the production of mounting systems and module frames near Berlin has improved the general workflow while forming the basis for further growth.

With the market launch of SunCheck and SunReader last year, Conergy is now able to offer both installers and consumers user-friendly solutions for monitoring the performance of solar systems. With these new product lines, Conergy is tapping into new customer groups for its commercial partners. The continual expansion of its product range with the express intent of improving customer satisfaction remains Conergy's most important objective in 2004. "We shall bolster our high level of product expertise with new in-house developments and external acquisitions," states Mr. Rüter.

Moreover, the first photovoltaic facilities in Portugal and France have been connected to the power grid; as in Germany, these facilities benefit from special tariffs for feeding electricity into the grid. With full order books and several major projects pending, Conergy's management is confident of its ability to expand its market share both domestically and internationally. According to estimates by UVS e.V. (Solar Industry Enterprise Association), the market for photovoltaics in Germany will grow by at least 50 % this year, a figure similar to 2003.

About Conergy
Since its founding in 1998, Hamburg-based Conergy AG has sold more than a gigawatt in renewable energy, making it one of the biggest suppliers of solar energy and other renewable energies, and a world leader in solar system integration. Of the one gigawatt in renewable energies, Conergy has installed more than 400 megawatts in its major projects, Of the total one gigawatt, 200 megawatts falls to its wind energy park projects and 800 to its globally marketed solar modules. Calculative one in ten modules worldwide was produced, sold or installed by Conergy. Listed on the Frankfurt Stock Exchange since 2005, the group pursues a global growth strategy, The company now produces, installs and designs solar power systems and wind turbines in around 15 countries. The Conergy Group is represented with its own branches on four continents.

Conergy Australia is a key player in the Australian renewable energy market, manufacturing and supplying high efficiency solar hot water, solar power and small wind power solutions. With an Australia-wide distribution network, state sales offices and warehousing in 4 key locations around the continent as well as in-house dedicated renewable energy engineers and sales teams, the company has become an important part of the Australian industry since it began operations here in 2005.

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