REpower Systems AG announces 2010/11 half-year figures (April 1, 2010 - September 30, 2010)
EBIT rises despite decline in revenue / Net result climbs 24.6% to EUR 21.8 million
In the first half of fiscal year 2010/11, the REpower Systems Group generated a total operating performance of EUR 515.2 million, a decline of 16.5% compared with the corresponding period of the previous year (EUR 617 million). Revenue also decreased, dropping from EUR 609.7 million to EUR 499 million year-on-year. In contrast, EBIT rose by 9.6% from EUR 31.3 million to EUR 34.3 million, while earnings before tax climbed 26% from EUR 26.5 million to EUR 33.4 million. After taxes, the net result for the first half of fiscal year 2010/11 amounted to EUR 21.8 million, an increase of 24.6% compared with the relevant period of the prior year.
The order situation developed positively during the reporting period: In the first six months of fiscal year 2010/11, the company posted incoming orders with a total rated capacity of around 565 MW (previous year: 437 MW). As at September 30, 2010, the order backlog was 2,254 MW, significantly higher than the 1,307 MW recorded at the previous year's reporting date. On the reporting date, the contractually-secured order volume amounted to EUR 2.58 billion following a figure of EUR 1.60 billion at the end of September 2009. Installation figures rose slightly: In the reporting period, the company set up or installed wind turbines with a total rated capacity of 399 MW, an increase of 3.4% compared with the first half of fiscal year 2009/10 (386 MW).
For fiscal year 2010/11 as a whole, REpower Systems AG most recently forecast an increase in total performance for the group to EUR 1.5-1.6 billion as well as an operating profit margin (EBIT margin) of between 7.5% and 8.5%. The Executive Board has confirmed these targets, but would like to emphasize that uncertainty regarding the achievement of its goals has increased significantly due to a growing number of projects postponed by customers.
There will be a telephone conference for analysts and journalists at 10.00 a.m. (CET) on November 15, 2010. The dial-in number is +49 (0)69 247 501 899.
The conference will be held in English. A recording of the conference call will be provided afterwards on the website www.repower.de.
REpower Systems AG, a Suzlon group company, is one of the leading manufacturers of onshore and offshore wind turbines. The international mechanical engineering company develops, produces and markets wind turbines with rated outputs of 1.8 MW to 6.15 MW and rotor diameters of 82 meters to 126 meters for almost any location. The company also offers a comprehensive portfolio of service and maintenance packages. The profitable and reliable systems are designed at the REpower TechCenter in Osterrönfeld and manufactured at its plants in Husum (North Friesland), Trampe (Brandenburg) and Bremerhaven as well as Portugal and China.
With more than 2,200 employees worldwide, the company, which has been listed since March 2002 and is headquartered in Hamburg, can make use of the experience gained from the manufacture and installation of around 3,000 wind turbines around the world. REpower is represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the UK, Italy, Portugal, Sweden, Poland and Spain as well as on a global level in the USA, Japan, China, Australia and Canada.