Echoing other PV manufacturers comments over weak demand for solar products in key markets such as Germany and Italy in the first-half of the year, Conergy announced after the German stock market had closed that it was retracting its 2011 fiscal year guidance of sales topping €1 billion. Conergy did not provide new guidance for 2011.
Although Conergy reported a weak business environment for the first quarter of 2011, hope was that the second quarter would see an uptick and therefore refrained from adjusting its sales and profit margin guidance.
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However, Conergy noted that there had been ‘no significant improvement in the international solar markets that would have been able to compensate for the overall disappointing first quarter,’ in the first months of the second quarter.
