Conergy posted a loss before interest, taxes, depreciation and amortisation (EBITDA) of €10.8m ($14.7m) in 2009 – compared to the gaping €147.3m loss the Hamburg-based firm swallowed in 2008.
The turnaround came despite the fact that the financial crisis and the capping of the Spanish solar market dragged its full-year revenues down 38% to €600.9m from €975.3m.
“In 2009 we put our focus on profitable revenues whilst paying close attention to our material and personnel costs,” says Conergy chief executive Dieter Ammer.
“Although
