DGAP-News: COLEXON Energy AG: COLEXON continues growth with strong Q1 results
(firmenpresse) - COLEXON Energy AG / Interim Report/Quarter Results
12.05.2010 09:30
Dissemination of a Corporate News, transmitted by
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Photovoltaic specialist presents report for the first quarter of 2010
- Revenues of 45.6 million euros were nearly doubled compared to the same
period last year (Q1/2009: 23.3 million euros, pro forma)
- EBIT increased significantly to 3.0 million Euro (Q1/2009: 2.1 million
euros, pro forma)
- Management expects a total revenue of over 200 million euros for 2010
Hamburg, May 12th 2010. COLEXON Energy AG (WKN 525070, ISIN DE0005250708)
has started into 2010 with strong first quarter results. During the first
three months of the year - which normally count as the solar industry's
weakest quarter - COLEXON realized revenues of 45.6 million euros (compared
to 23.3 million euros in 2009, pro forma). Earnings before interest and tax
(EBIT) rose by 43 percent to 3.0 million euros (2.1 million euros in the
previous year, pro forma).
In the first quarter 2010 the PV market was influenced by discussions about
cuts in the German feed-in tariff system as well as by a strong winter. The
project business had to suffer from the unusual weather conditions. The
wholesale business, however, experienced additional demand due to
anticipatory effects. Customers who anticipated feed-in tariff cuts in
Germany in the middle 2010 decided to buy modules earlier in order to be
able to still benefit from the current tariffs. These developments are
mirrored in COLEXON's results: Wholesale contributed 36.3 million euros to
the COLEXON group's revenues. This was the main push factor which increased
the EBIT.
In order to reduce the seasonal fluctuations in project business, COLEXON
will further increase its international activities. COLEXON will focus on
Europe's growth markets France and Italy, where the company has already
started realizing first projects. However, most of this year's projects
will enter construction phase in the second and third quarter.
Thorsten Preugschas, CEO of COLEXON Energy AG: 'The first quarter 2010
results prove our successful start into the new business year. Despite the
strong pressure in the market, due to the uncertainties regarding the
upcoming political decisions on the German Renewable Energies Act, we see
COLEXON well-positioned with our business model and our internationally
diversified corporate strategy. We are optimistic about the future
development of COLEXON. For 2010 we expect total revenues of over 200
million euros.'
Please find the complete report on the webpage of COLEXON www.colexon.com
in the section for investor relations.
12.05.2010 09:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: COLEXON Energy AG
Große Elbstraße 45
22767 Hamburg
Deutschland
Phone: +49(0)40 280031-0
Fax: +49(0)40 280031-101
E-mail: k.friedrich(at)colexon.de
Internet: www.colexon.de
ISIN: DE0005250708
WKN: 525070
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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