REpower Systems AG announces financial figures for first quarter of fiscal year 2008/09 (01.04.2008 - 30.06.2008)
Hamburg (euro adhoc) -
Gross revenues increase to EUR 240.9 million Operating result EUR 10.2 million Orders on hand increase by 48.0% to 1,522.6 megawatts
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finances
Hamburg, 14 August 2008. REpower Systems AG (WKN 617703) posted gross revenues of EUR 240.9 million in the first quarter of fiscal year 2008/09 compared to EUR 105.5 million in the same period of the previous year (comparison period 01 April to 30 June 2008). Therewith, gross revenues more than doubled within the reporting period. The operating result (EBIT) increased strongly in the reporting period from TEUR 74.6 to EUR 10.2 million. After taxes and interest this results in positive net earnings of EUR 5.9 million after TEUR 28.8 in the corresponding period last year.
In the period from April to June 2008, REpower Systems AG installed and recognised in income 138 wind turbines with a total rated power of 276.0 megawatts. The international share of output in relation to wind turbines which made up sales was over 96%.
Including the financial data for the consolidated investment companies, the Group´s total operating revenue amounted to EUR 240.9 million, compared with the total operating revenue of the corresponding period last year of EUR 105.5 million. Sales increased year-on-year from EUR 102.5 million to EUR 231.8 million.
Earnings before interest and taxes (EBIT) for the period from April to June 2008 amounted to EUR 10.2 million, compared to TEUR 74.6 in the same period of the previous year. Net earnings in reporting period amounted to EUR 5.9 million, compared to TEUR 28.8.
At the end of the period under review, the order backlog amounted to 718 wind energy turbines (same period of previous year: 509 turbines) with a total rated power of 1,522.6 megawatts (same period of previous year: 1,028 megawatts). This corresponds to a contractually confirmed volume of around EUR 1.6 billion (as per end of June 2007: EUR 888.7 million).
Against the background of the high order backlog in fiscal year 2008/09, REpower Group is expecting sales volume to rise to EUR1.1 billion in fiscal year 2008/09. The sustained improvement in cost structures and processes within the REpower Group will lead to a further rise in earning power. REpower is therefore expecting an EBIT margin of between 5.5% and 6.5% in 2008/09. Planning for fiscal year 2009/10 is for sales growth of between 40% and 50%, which will again go hand-in-hand with a rise in the EBIT margin.
A telephone conference for analysts and journalists will take place on 14 August at 3 p.m. (CET). The telephone conference will be conducted in English. The dial-in number is +49 (0)30 868 71-790. The original conference call recording can be downloaded from our website www.repower.de.
end of announcement euro adhoc
Further inquiry note:
Caroline Stubenvoll
+49 (0) 5555090-3025
Caroline.Stubenvoll@repower.de
Branche: Alternative energy
ISIN: DE0006177033
WKN: 617703
Index: TecDAX, CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
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