REpower: Best prepared for further growth
Hamburg (euro adhoc) -
- Release of nine-month report 2007 - Increase of total performance by 32.5 percent to EUR 394.1 million - EBIT more than doubled, adding up to EUR 7.9 million - Sales forecast 2008 adjusted to at least EUR 1 billion - Vahrenholt: Sales in 2010 likely to exceed EUR 2 billion
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Hamburg, 15 November 2007. Today, REpower Systems AG (Prime Standard, WKN 617703), third largest German manufacturer of wind energy turbines, releases its nine-month report 2007 and thus pursues its prosperous growth trend. In the period from January to September 2007 the company installed or delivered 172 sales-related wind energy turbines corresponding to a total capacity of 329 megawatts (MW) and thus achieved a total performance of EUR 394.1 million - as against EUR 297.4 million in the reference period of the previous year. Operating result (EBIT) improved from EUR 3.4 million to EUR 7.9 million. With 1,223 MW as of 30 September 2007, REpower Systems AG registered the highest number of orders since it was founded.
In the first nine months of 2007, REpower Systems AG erected all in all 172 wind energy turbines (previous year: 188) with a total capacity of 329 MW and could partly catch up the delays from the first half of the year.
Total performance was up by 32.5% from EUR 297.4 million to EUR 394.1 million in the reference period from 1 January to 30 September 2007, whereas sales increased year-on-year by 24.5% from EUR 292.6 million to EUR 373.0 million. EBIT totalled EUR 7.9 million in the first nine months of the current financial year compared to EUR 3.4 million in the first nine months of 2006.
As of end September 2007, the order backlog increased by 41%, with registered purchase agreements for 609 wind energy turbines and a total rated power of 1,223.0 MW (previous year: 453 turbines, 867.5 MW). This is the highest number of orders since REpower Systems AG was founded and corresponds to a potential order volume of approx. EUR 1.2 billion.
Prof. Dr. Fritz Vahrenholt, incumbent Chairman of the company´s Executive Board until 31 December 2007, comments: "REpower is best prepared for the future growth: In Bremerhaven, Germany, we are setting up a production facility for our offshore power plant 5M as well as an own rotor blade factory. The company plant in Trampe/Brandenburg has just been expanded in order to double production capacity. We are going to have an additional site - in Osterrönfeld, Schleswig-Holstein - as well as a joint technology centre with Suzlon in Hamburg. We furthermore continue to promote expansion in our foreign key markets in Europe or in the USA and China."
REpower confirms its targets for business year 2007 (Sales: EUR 650 billion and an EBIT margin of 3.0 to 4.5 percent) and raises its sales forecast for business year 2008 to at least EUR 1 billion with an EBIT margin of 4 to 6 percent. Vahrenholt: "We assume that we will almost double sales every two years and that REpower can therefore realise sales of more than EUR 2.0 billion in 2010."
A conference call for analysts and journalists will be held on 15 November 2007 at 11.30 a.m. (CET). Please use the following dial-in number: +49 (0)30 868 71 410.
end of announcement euro adhoc 15.11.2007 09:37:59
Further inquiry note:
Thomas Schnorrenberg
Investor Relations Manager
Telefon: +49(0)40-53930-723
E-Mail: t.schnorrenberg@repower.de
Branche: Alternative energy
ISIN: DE0006177033
WKN: 617703
Index: Prime All Share, CDAX, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
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