REpower Systems SE

EANS-News: REpower Systems AG exceeds goals for the 2008/09 fiscal year

- Sales rises to over EUR 1.2 billion - Operating result increases to EUR 76.9 million

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Hamburg (euro adhoc) - Hamburg, 18 May 2009. In fiscal year 2008/09, the REpower Systems Group (WKN 617703) significantly exceeded the billion limit in terms of sales for the first time and achieved its all-time highest operating result in the history of the company. Totalling 76.9 million EBIT was more than twice as high as in fiscal year 2007 (EUR 28.2 million). Sales increased to EUR 1,209.1 million (Short Fiscal Year 2008 : EUR 147.4 million; 2007: EUR 679.8 million), total operating performance rose to EUR 1,220.5 million (short fiscal year 2008: EUR 150.2 million; 2007: EUR 678.2 million). Net earnings (earnings after tax) saw an upswing from EUR 21.1 million by the end of 2007 to EUR 51.9 million (short fiscal year 2008 1.4 million). With an order backlog of 1,317.3 MW, potential sales volume stood at around EUR 1.5 billion as per 31 March 2009. Due to its well-stocked order book and the achieved goals for fiscal year 2008/09, REpower sticks to its forecast for fiscal year 2009/10.

In the reporting period, REpower installed or delivered 613 wind energy turbines with a total rated power of 1,253.3 MW. During the short fiscal year 2008 it was 65 turbines with a total output of 129.0 MW, in fiscal year 2007 332 turbines with a total rated power of 652.0 MW.

On 31 March 2009 order backlog for turbines without deferring conditions stood at 620 (31 December 2007: 636 turbines; 31 March 2008: 696 turbines) with a total rated power of 1,317.3 MW (31 December 2007: 1,297.5 MW; 31 March 2008: 1,419.0 MW) and a potential sales volume of around EUR 1.5 billion.

Consolidated sales rose significantly in 2008/09 from EUR 679.8 million in fiscal year 2007 by tight 78% to EUR 1,209.1 million (short fiscal year 2008: EUR 147.4 million), whilst total operating performance compared to fiscal year 2007 increased by tight 80% from EUR 678.2 million to EUR 1,220.5 million (short fiscal year 2008: EUR 150.2 million). EBIT improved at a disproportionate rate and stood with EUR 76.9 million above the previous year´s values of short fiscal year 2008 (EUR 3.1 million) and fiscal year 2007 (EUR 28.2 million). Following deductions for interest and tax, the profit for the year was EUR 51.9 million as against EUR 1.4 million in short fiscal year 2008 and EUR 21.1 million in fiscal year 2007.

For fiscal year 2009/10, REpower expects further growth: Sales will presumably increase to EUR 1.4-1.5 billion, for the EBIT margin REpower expects an improvement to 7.5%-8.5%. This is in accordance with the forecast that REpower communicated in November 2008 (30.0%-35.0% sales growth based on sales expectations at that time of EUR 1.1 billion for 2008/09). The growth is largely secured by firm order and framework agreement backlog. However, the risk of project postponements on the part of customers has increased in the last quarter.

The annual account and consolidated financial statement will presumably be approved by the supervisory board on 25 May 2009.

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ots Originaltext: REpower Systems AG
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Further inquiry note:
Heike Binder
Tel.: +49(0)40 5555090-3209

Branche: Alternative energy
ISIN:      DE0006177033
WKN:        617703
Index:    CDAX, Prime All Share, Quotrix
Börsen:  Berlin / Open Market
              Hamburg / Open Market
              Stuttgart / Open Market
              Düsseldorf / Open Market
              München / Open Market
              Frankfurt / regulated dealing/prime standard

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