Conergy expects end of German solar boom in 2011

Looks like their earnings and balance sheet are heading back in the right
direction, though.

http://www.electroiq.com/index/display/pv-wire-news-display/1276622558.html

Conergy expects end of solar boom in 2011ADP News Renewable Energy
TrackOctober 6, 2010 German solar power group Conergy (ETR:CGY) projects
that the current solar boom in Germany will not continue in 2011 and the
next year will be weaker than the current period, CEO Dieter Ammer said
Monday at the group's annual general meeting.The company's expectations are
based on the reduction in feed-in tariffs for solar energy, which will cause
a decline in newly installed capacity in the country to 4 GW per year.
According to Conergy's estimates Germany will add a record 7 GW of newly
developed facilities in 2010.However, further growth in revenue and
operating profit may be booked in 2011 thanks to the strong positioning of
Conergy outside Germany, Ammer said. The company's international business
currently contributes around half of its total revenue.According to the CEO,
the solar sector will fare well again in 2013 at the latest.The company also
affirmed its forecast for returning to profitability in 2010 and booking
full-year earnings before interest, tax, deprecation and amortisation
(EBITDA) of between EUR 30 million (USD 41.3m) and EUR 40 million.(EUR 1.0 =
USD 1.377) Copyright 2010 AII Data Processing Ltd.All Rights Reserved ADP
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