REpower’s Business Figures Drop Comparing to Last Year (Germany)

The REpower Systems Group achieved total performance of EUR 1.28 billion (previous year: EUR 1.33 billion) in the 2010/11 fiscal year (April 1, 2010 to March 31, 2011). Revenues dropped from EUR 1.30 billion to EUR 1.22 billion.

At EUR 86.0 million, EBIT was down 12.5% on the previous year (EUR 98.3 million). The EBIT margin shrank accordingly from 7.4% to 6.7%. After financing expenses and income, earnings before tax for the 2010/11 fiscal year amounted to EUR 80.9 million (previous year: EUR 83.9 million). Net income for the year, at EUR 55.6 million, was only slightly down on the previous year’s level of EUR 57.9 million.

Overall, the 2010/11 fiscal year went satisfactory for REpower Systems AG. Installed or supplied output amounted to 851 megawatts (previous year: 863 megawatts), of which more than 77% was destined for export. Incoming orders in the period under review came to 1,252 megawatts, which equates to a volume of EUR 1.36 billion.

Derrick Noe, CFO of REpower Systems AG, on the results: “Against the background of increasing competition and persistent project delays, we are satisfied with the results we have achieved. We have achieved the targets, which were revised in December, and are continuing to generate respectable revenues and income.”

Shareholders are also to participate in the earnings development: accordingly, the Executive Board and Supervisory Board will propose to the Annual General Meeting, which is likely to take place on August 30, 2011, that a dividend of EUR 1.50 (previous year: EUR 1.57) is resolved for the 2010/11 fiscal year.

The company is planning to boost its activities overseas and, in the process, is focusing on a strong sales organization.

An initial measure to improve efficiency is the production of REpower 2 megawatts series wind turbines at a site in Padubidri, India. The 60 hertz versions of the MM wind turbines produced there are to be exported to Australia and North America.

“We are consequently reacting to the cost pressures in an extremely competitive environment,” said Andreas Nauen.

(repower)

[mappress]

Source: repower, June 07, 2011