REpower Systems AG announces financial figures for first half 2008/09 (01.04.2008 - 30.09.2008)
Hamburg (euro adhoc) -
Gross revenues almost doubled to EUR 531.1 million EBIT tripled to EUR 22,7 million 30% - 35% sales growth expected for 2009/10 Supply contract for 22 REpower MM82 signed
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finances
Hamburg, 13 November 2008. In the first half of fiscal year 2008/09 REpower Systems AG (WKN 617 703) realised gross revenues of EUR 531.1 million compared to EUR 268.7 million in the same period of the previous year. Sales increased year-on-year from EUR 275.3 million to now EUR 529.8 million. Earnings before interest and taxes (EBIT) for the period from April to September 2008 stood at EUR 22.7 million compared to EUR 7.6 million in the previous year. Net profit increased from EUR 5.0 million as per end of September 2007 to now EUR 14.4 million.
In the first half of fiscal year 2008/09 REpower Systems AG installed and recognised in income 256 wind energy turbines with a total rated power of 530.0 megawatts (corresponding period of the previous year: 140 wind turbines with 268.0 MW). The order backlog amounted to 683 wind energy turbines (same period of previous year: 609 turbines) with a total rated power of 1,434.6 megawatts (same period of previous year: 1,223.0 megawatts). This corresponds to a contractually confirmed order volume of around EUR 1.5 billion (30.09.2007: EUR 1.2 billion).
REpower affirms its forecast for the current fiscal year 2008/09 expecting an increase of the sales volume to EUR 1.1 billion and an EBIT margin of 5.5% -6.5%.
Due to an expected slow-down of the wind energy market in 2009 - which might be reflected in a stagnating or even slightly declining number of new installations - REpower notes a certain risk of project shifts on the part of customers in the next business year. In order to allow for this potential risk, REpower is adapting its sales growth forecast for 2009/10 from formerly 40% - 50% to 30% - 35%. This remains a higher-than-average growth in the market and also implies a further rise in EBIT margin compared to the current business year.
Besides, REpower Systems AG concluded a contract with Dirkshof Erneuerbare Energien GmbH on the delivery and installation of altogether 22 wind energy turbines of the type REpower MM82 for the wind farm Reußenköge 5. The erection of the turbines with a rated output of 2 MW each on the site of Reußenköge (Schleswig-Holstein/Germany) is scheduled for the second half of 2009. "I am happy that, in addition to the release of our satisfying half-year figures, we can announce the conclusion of a contract which underlines the sustained keen demand for REpower technology in Germany", says Per Hornung Pedersen, CEO of REpower Systems AG.
A conference call for analysts and journalists will take place on 13 November at 10 a.m. (CET). The dial-in number is +49 (0)30 868 71-790.
The conference call will be held in English. The conference call recording can be downloaded afterwards from our website www.repower.de.
end of announcement euro adhoc
Further inquiry note:
Thomas Schnorrenberg
Tel.: +49(0)40 5555090-3051
E-Mail: t.schnorrenberg@repower.de
Branche: Alternative energy
ISIN: DE0006177033
WKN: 617703
Index: CDAX, Prime All Share, Quotrix
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