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REpower Systems SE

EANS-News: REpower Systems AG
REpower successful in challenging environment

Hamburg (euro adhoc) -

-	Total operating performance EUR 1,324.5 million (up 8.5%)
-	Operating result (EBIT) EUR 98.3 million (up 27.9%)
-	Net income EUR 57.9 million (up 11.5%)
-	Order backlog EUR 2.1 billion (up 40%)
-	Dividends of EUR 1.57 per share proposed
-	In 2010/11 improvement in turnover and result expected
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
annual result
Subtitle: -	Total operating performance EUR 1,324.5 million (up 8.5%)
-	Operating result (EBIT) EUR 98.3 million (up 27.9%)
-	Net income EUR 57.9 million (up 11.5%)
-	Order backlog EUR 2.1 billion (up 40%)
-	Dividends of EUR 1.57 per share proposed
-	In 2010/11 improvement in turnover and result expected
Hamburg, 28 May 2010. In the financial year
2009/10 REpower Systems Group (WKN 617703) once again increased its 
overall performance and turnover in a challenging market environment 
and simultaneously improved the operating result by a greater 
proportion. Sales increased to EUR 1,303.6 million (preceding year: 
EUR 1,209.1 million), total operating performance rose to EUR 1,324.5
million (preceding year: EUR 1,220.5 million). At EUR 98.3 million, 
there was a much more noticeable increase in the group operating 
result before interest and taxes (EBIT) (preceding year: EUR 76.9 
million) than in turnover and overall performance. The net income 
(result after taxes) rose from EUR 51.9 million in the preceding year
to EUR 57.9 million. As of 31 March 2010, the order status included 
projects having a potential sales volume of approx. EUR 2.1 billion 
(31 March 2009: approx. EUR 1.5 billion).
For the REpower group, the financial year 2009/10 was operationally 
the most profitable year, with the highest turnover in the history of
the company to date. "We were successful in a challenging environment
and we are confident about the future", said the Chairman of the 
Executive Board, Per Hornung Pedersen, at the Press and Analyst 
Conference in Frankfurt a.M. on Friday. As of the balance sheet date 
(31 March 2010), REpower employed 2,097 employees worldwide, and thus
322 persons or approx. 18% more than at the presentation of the 
balance sheet date in the previous year.
Sales and total operating performance rose throughout the group by 
7.8% and 8.5% to EUR 1,303.6 million and EUR 1,324.5 million. 
Simultaneously, the EBIT margin of 6.3% improved to 7.4%; this 
corresponds to an EBIT of EUR 98.3 million (27.9% up on the previous 
year's figure of EUR 76.9 million).
"Thus, we are about to achieve our ambitious goals", continued 
Pedersen. "With an equity ratio of over 46%, almost no 
interest-bearing financial liabilities and an operational cash flow 
of EUR 119.3 million, in terms of our balance sheet and finances we 
are extremely well equipped for the future. Furthermore we managed to
decrease the net working capital ratio from 18.3% in the preceding 
year to 14.8%.", added Derrick Noe, Chief Financial Officer of 
REpower Systems AG.
After deducting interest and taxes, a net income of EUR 57.9 million 
shows - in comparison to 51.9 million in the fiscal year 2008/09 - an
increase of 11.5%.
As of 31 March 2010, the order backlog included purchase agreements 
having a potential sales volume of approx. EUR 2.1 billion (as of 31 
March 2009: approx. EUR 1.5 billion). That means a considerable leap 
of 40%, whereas especially orders of large scale wind turbines (3 to 
6 MW class) increased. The figures exclusively comprise the batches 
bindingly ordered within the scope of project agreements, as well as 
on-call orders arising from framework agreements.
The shareholders should also participate in the successful company 
performance of the past year. The Executive Board and the Supervisory
Board propose to the Annual General Meeting to pay a dividend of EUR 
1.57 per share for 2009/10. The Supervisory Board of REpower Systems 
AG approved REpower Systems AG's annual financial statement presented
by the Executive Board, as well as the consolidated financial 
statement of the REpower Group, and went along with the Management's 
dividend proposal. Accordingly, the Executive Board and the 
Supervisory Board will at the Annual General Meeting - expected to 
take place on 20 August 2010 - propose resolving a dividend of EUR 
1.57 per share (preceding year EUR 0.00) for the financial year 
2009/10.
"We wish to retain our profitable growth trend in future, and thus 
continue to expand our position on the international wind energy 
market", remarked Pedersen in regard to the prospects for the 
financial year 2010/11. From the present-day perspective, the 
management expects a 10 - 20% increase in the overall performance of 
the Group: this corresponds to approx. EUR 1.5 to 1.6 billion. This 
forecast accompanies an increase in the operating result margin (EBIT
margin) to 7.5 - 8.5%. The expected profitability trend is largely 
based on economies of scale, as well as on a further reduction of the
cost of basis materials. As in the preceding year, it is expected 
that the greater proportion of the budget will be realised in the 
second half of the year.
Today, the REpower Executive Board will present the results of fiscal
year 2009/10 in a Press- and Analyst Conference in Frankfurt a.M. 
(Germany). For journalists and analysts who cannot participate 
personally in the event, a telephone conference will take place today
at 1 p.m. (CET). The dial-in number is: +49 (0)69 247 501 899.
end of announcement                               euro adhoc

Further inquiry note:

Caroline Zimmermann
+49 (0) 5555090-3025
Caroline.Zimmermann@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

Weitere Storys: REpower Systems SE
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