In a year of fundamental restructuring measures, the solar energy company Conergy has, according to preliminary figures, increased its revenues by 40% to EUR 1,006m (previous year: EUR 719m).Despite this, due to large burdens in the fourth quarter, it was not possible to improve earnings (EBIT) as had been the aim. This now stands at EUR -158m (previous year: EUR -213m), significantly below expectations.This figure includes special effects and other non-recurring costs of EUR 118m due to exchange losses, the ramp-up in Frankfurt (Oder), and the ongoing restructuring programme among others.Of these costs, EUR 81m were incurred in the fourth quarter, of which large part is due to the financial crisis. Included are writedowns on inventories of EUR 16m, caused by an unexpectedly quick and sharp fall in module prices.
In its continued operations, the company recorded an annual loss of EUR -199m (previous year: EUR -213m).Including discontinued operations, the annual loss came to EUR -252m (previous year: EUR -248m).The preliminary result could still change, partly depending on the outcome of current negotiations with an important supplier.Conergy will publish its final and audited financial statements on 27 March 2009. |