Conergy reports bigger-than-expected loss

Conergy reports bigger-than-expected loss

25.01.2012: German solar module maker Conergy AG blames its greater-than-expected loss in 2011 on the sharp decline of module prices. CEO Phillip Comberg noted that globally, solar modules prices dropped by over 40 percent during the past year, leading to "a difficult market environment." According to preliminary calculations, Conergy achieved an EBITDA for fiscal year 2011 of between -€80 and -€85 million (-$104 and -$111 million), representing a significantly greater loss than previously forecast (-€50 to -€55 million). Revenues for the year are expected to line up with the company's previous estimate of €755 million. … Source: Conergy AG; Summary PHOTON http://www.conergy.de http://www.conergy-group.com/en/desktopdefault.aspx/tabid-39/57_read-2187 The complete press release can be viewed in PHOTON's archive using the following link: http://www.photon-international.com/newsletter/document/59813.pdf

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com