REpower Systems AG achieves goals for the 2007 fiscal year
and raises forecast
- Rise in sales by 48.2% to EUR 680.2 m
- Operating result increases by 131.5% to EUR 28.2 m
- Record order backlog of EUR 1.3 bn
The REpower Systems Group (WKN 617703) achieved its all-time highest operating result in the 2007 fiscal year: according to preliminary figures, EBIT was more than double that of the previous year(EUR 12.2 million) at EUR 28.2 million. Sales and total operating revenue rose by 48.2% and 46.9% respectively to EUR 680.2 million and to EUR 678.2 million respectively (previous year: EUR 458.8 million and EUR 461.5 million respectively). Net earnings (earnings after tax) tripled from EUR 7.1 million to EUR 21.1 million. With a volume of EUR 1.3 billion, the order backlog at 31 December 2007 was almost 50% above the value on the previous year s balance sheet date. Due to the high order backlog and the excellent outlook, REpower has raised its forecast for the 2008/2009 fiscal year.
In 2007, REpower installed or delivered 332 wind turbines with a total generating capacity of 652.0 megawatt. During the previous year, it was 263 turbines with a total output of 492.0 megawatt.
Consolidated sales rose significantly in 2007 by 48.2% from EUR 458.8 million to EUR 680.2 million, while total operating revenue increased by 46.9% from 2
EUR 461.5 million to EUR 678.2 million. At EUR 28.2 million, EBIT improved at a disproportionate rate and was 131.5% above the previous year s value of EUR 12.2 million. Following deductions for interest and tax, the profit for the year was EUR 21.1 million as against EUR 7.1 million in 2006.
The order backlog was again at a record high at the balance sheet date: as at 31 December 2007, it included 636 wind turbines (previous year: 478 turbines)with a total output of 1,297.5 megawatt (previous year: 933.0 megawatt) and a potential sales volume of almost EUR 1.3 billion (previous year: EUR 842.8 million).
By resolution of the Extraordinary General Meeting of 17 October 2007, REpower Systems AG s fiscal year will in future end on 31 March. REpower has raised its forecasts for the new 2008/2009 fiscal year: "The sustainable improvement of our cost structures and processes will lead to a further rise in our earnings power," said REpower CFO Pieter Wasmuth. "We have significantly improved our economic situation in recent months and therefore expect an increase in sales during the 2008/2009 fiscal year to EUR 1.1 billion and an EBIT margin of between 5.5% and 6.5%," Per Hornung Pedersen, CEO of REpower Systems AG, added.
The complete consolidated financial statements will be presented with the annual results which are expected to be announced on 31 March.
REpower Systems AG is one of the leading manufacturers of onshore and offshore wind turbines. The international engineering company develops, produces and sells wind turbines with outputs ranging from 2 to 5 megawatts and rotor diameters of 82 to 126 metres for almost all locations. It also provides a comprehensive service and maintenance range. The high performance, reliable turbines are designed at the REpower development centre in Rendsburg and produced at the sites in Husum (North Frisia) and Trampe (Brandenburg).
Listed on the stock exchange since March 2002 and with more than 1,300 employees worldwide, the Hamburg-based company relies on its experience in the production and installation of almost 2,000 wind turbines. REpower is represented in European markets such as France, the United Kingdom, Italy, Portugal and Spain and in the international markets of the US, Japan, China and Australia through its sales partners, subsidiaries and investments.