EANS-Adhoc: COLEXON Energy AG
COLEXON Energy AG writes off 63.4 million Euros
goodwill as of 30.9.2010
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
21.10.2010
Hamburg, 21 October 2010 - COLEXON Energy AG (WKN 525070, ISIN DE0005250708) writes off 63.4 million Euros goodwill at group level. This goodwill was taken on to the books of the COLEXON group as a result of the acquisition of Renewagy A/S in 2009 and is based on the assumption of a continuous and very long-term expansion of the solar power plant portfolio. Feed-in tariffs have been reduced earlier and more severely than expected in major European markets, so that the management of COLEXON Energy AG sees itself compelled to correct the very long-term assumptions in respect of the power plant portfolio. The write-off does not affect the accounts of Colexon Energy AG, does not have a cash impact, and consequently has no influence on the current financial status of the company. The intrinsic value of the existing proprietary solar power plant portfolio is not affected by the regulatory changes, as it benefits from feed-in tariffs that are secured for 20 years. Management sees good opportunities to expand the solar power plant portfolio in the short to medium term and will continue to pursue this strategy.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Jan Hutterer
Investor Relations Manager
Tel.: +49 (0) 40 2800 31 111
E-Mail: hutterer@colexon.de
Branche: Energy
ISIN: DE0005250708
WKN: 525070
Index: CDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
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