According to Conergy’s management, the module manufacturer remains cautiously optimistic about its business success in 2011, despite expectations that the reduction in the German feed-in tariff is expected to lead to a substantial decrease in the industry’s most important solar market, Germany. Confidence comes from the expectation that Conergy can strengthen its presence in overseas markets, while expanding in newly targeted countries. Conergy guided sales of over €1 billion in 2011, up from final full figures for 2010 of €913.5 million.
Conergy also noted that it expected a fall in process this year but had planned cost reduction strategies in place, while planning to focus on its quality and premium product approach to capture sales. Conergy said that it expected mid-two digit million range for the EBITDA in 2011.
Assuming that the overall environment for solar energy remains positive, given a stable cash-flow, Conergy noted that it expected sales would continue to increase, even into 2012.