The Conergy inc., Hamburg increased its consolidated turnover in the first six months of 2004 by 91% by comparison with the first half of 2003 (when it reached 43.7m Euro), rising to 83.6m Euros according to IAS (International Accounting Standards). The group managed to raise Earnings Before Taxes (EBT) to 4.1m Euros, with an EBT margin of 4.9 percent. The turnover abroad rose from 3.4m Euros to 6m Euros, with similarly positive half-year operating profits. The company is assuming a doubling of last year's turnover, to 122.4m Euros, with a substantially rising operating profit. All operative companies in Conergy contributed to the success of the group with their half-year surpluses. For instance, production at the new manufacturing centre for solar mounting systems in Rangsdorf, Berlin increased five fold. 320 employees across Europe currently work for Conergy. Since the beginning of the year over 100 jobs have been created.
In the first half-year of 2004 Conergy increased photovoltaic peak production in total by 210%. However, performance in the area of wind power had a declining tendency. For the current year the photovoltaic market share of around 21% in 2003 is to be extended to at least 25%. Hence Conergy has grown into one of the world-wide leading providers of complete solar solutions. In the second half of this year the product range available will be extended with innovative novelties, such as Conergy Planner, a well thought out software tool for professional plant planning for fitters. Moreover, the range of high-performance solar modules on offer from the leading global pre-producers is continually being extended. The new Conergy central alternating current converters are used in the 4 megawatt solar park Zeche Göttelborn in Germany.
Internationalisation and diversification have been spurred on by the new sales branch in Greece and the production of solar thermic equipment beginning in the new year in Landshut, Germany. As well as expansion into the most promising solar markets world-wide, Conergy plans the integration of further complementary fields of business. "Our goal is to bring the most suitable technologies to the energy consumers in the markets which are most attractive for renewable energies," explains Hans-Martin Rüter, chairman of Conergy inc. "Since we manage our money so as to keep free from long-term commitments, we were able to continue to implement fast expansion using the operative cash flow," Rüter explains. |