EANS-Adhoc: REpower Systems AG
REpower revises forecast for current financial
year
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information
22.12.2010
- Total performance of EUR 1.25-1.35 billion - EBIT margin of 5-7% - Cost-cutting measures to increase competitiveness
Hamburg, December 22, 2010. The Executive Board of REpower Systems AG (WKN 617703) has revised its outlook for the current financial year. The company now expects total performance between EUR 1.25 billion and EUR 1.35 billion (previously: EUR 1.5 - 1.6 billion) and an operating margin (EBIT margin) of 5% - 7% (previously: 7.5% - 8.5%). The main reason for this change is the further increase in the number of project postponements, which is due in particular to financing commitments still pending. In light of the weak market development, it has only been possible to offset these postponed projects with adequate replacement orders to a limited extent in the current financial year.
In response to the price and margin pressure, the Executive Board has already initiated extensive cost reduction measures in order to achieve a sustainable improvement in the competitiveness of REpower. In particular, this includes leveraging cost benefits to a greater extent by purchasing components in Asia, especially in China and India. The first phase of this development will largely focus on established suppliers with corresponding local production sites. From 2011 on, the company is also planning to manufacture turbines in Asia. The wind turbines manufactured there are planned to be supplied to Australia, New Zealand and the USA.
end of announcement euro adhoc
Further inquiry note:
Heike Binder
Tel.: +49(0)40 5555090-3209
E-Mail: heike.binder@repower.de
Branche: Alternative energy
ISIN: DE0006177033
WKN: 617703
Index: CDAX, Prime All Share, Technology All Share
Börsen: Berlin / Open Market
Hamburg / Open Market
Stuttgart / Open Market
Düsseldorf / Open Market
München / Open Market
Frankfurt / regulated dealing/prime standard