EANS-News: COLEXON Energy AG COLEXON hones business model due to market
weakness in the first half of the year
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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6-month report
Subtitle: - International cutbacks in feed-in tariffs are weakening demand
- Revenue in the first half of the year fell by 48 percent compared to the
previous year
- COLEXON is adapting its business model to the changing conditions
Hamburg (euro adhoc) - Hamburg, 31 August 2011 - Hamburg-based COLEXON Energy AG
(WKN 525070, ISIN DE0005250708) has issued its report for the first half of
2011. The Hamburg-based solar company´s business was affected by very weak
demand as a result of unscheduled cutbacks and limitations on funding in the
photovoltaics industry´s core markets. COLEXON began simplifying internal
structures and reducing costs at an early stage to combat this significant
cooling of the market environment.
The revenue of COLEXON Energy AG almost halved in the first half of 2011
compared to the same period in the previous year, falling from 109.2m EUR to
56.9m EUR. In terms of sales revenue, the wholesale segment reached 35.8m EUR,
representing 63 percent of the total revenue. With 13.7m EUR, 24 percent of the
revenue was attributed to the projects segment, while revenue generated by the
solar power plant operation and service & management segments totaled 6.9m EUR
(12 percent) and 0.5m EUR (1 percent) respectively. Earnings before interest and
tax (EBIT) indicated a shortfall of 2.0m EUR during the report period, while in
the first half of 2010 an EBIT of 8.6m EUR was achieved.
COLEXON Energy AG is facing its current challenges with an extensive
restructuring process. The restructuring work involves key elements such as
considerable downsizing of the organization while retaining core competencies
and, fundamentally, a concentration on core markets and asset management for the
company´s own PV plants. The aim of the adapted business model is to
considerably reduce staff and material costs in order to perceive future
opportunities in the solar market.
The full half-yearly report 2011 can be downloaded on the company´s website at
www.colexon.com in the Investor Relations section.
Further inquiry note:
Friederike Thyssen, Investor Relations COLEXON Energy AG,
friederike.thyssen@pvf.de
end of announcement euro adhoc
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company: COLEXON Energy AG
Große Elbstraße 45
D-22767 Hamburg
phone: +49 (0) 40 2800 31 0
FAX: +49 (0) 40 2800 31 101
mail: info@colexon.de
WWW: http://www.colexon.de
sector: Energy
ISIN: DE0005250708
indexes: CDAX
stockmarkets: free trade: Berlin, Stuttgart, Düsseldorf, München, regulated
dealing/general standard: Frankfurt
language: English