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Conergy turns loss to profit in Q2 2010

Conergy is reporting a net result of €7.9 million for the second quarter (Q2) 2010, compared to a loss of €31.1m in the same period in 2009.

The return to profit came as sales increased by 50% to €239m and the EBIT rose by €40m to €11.7m. EBITDA improved from a loss of €22.9m in Q2 2009 to a profit of €18.5m.

“These positive figures provide proof that the restructuring is now bearing fruit in three consecutive quarters. We have managed to improve our performance across the board and are also posting positive bottom line results again. The past years’ hard work is paying off,” says Dieter Ammer, Management Board Chairman.

Outlook

Conergy has raised its full year expectation for its EBITDA to €30-40m.

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