Wind Energy

REpower installed 185 wind energy turbines with a total rated power of 386.15 megawatts (MW)

In the first half of fiscal year 2009/10 REpower Systems AG (WKN 617 703) realized total performance of EUR 617.0 million compared to EUR 531.1 million in the same period of the previous year. Sales increased year-on-year from EUR 529.8 million to now EUR 609.7 million. Earnings before interest and taxes (EBIT) for the period from April to September 2009 stood at EUR 31.3 million compared to EUR 22.7 million in the previous year. Net profit increased from EUR 14.4 million as per end of September 2008 to now EUR 17.5 million.

In the first half of fiscal year 2009/10 REpower Systems AG installed and recognized in income 185 wind energy turbines with a total rated power of 386.15 megawatts (MW) (corresponding period of the previous year: 256 wind turbines with 530 MW). The order backlog amounted to 592 wind turbines (30 September 2008: 683 turbines) with a total rated wind power of 1,306.8 MW (30 September 2008: 1,434.6 megawatts). This corresponds to a contractually confirmed order volume of around EUR 1.6 billion (30 September 2008: EUR 1.5 billion).

Furthermore, REpower Systems AG closed contract about the supply and installation of nine REpower MM92 wind turbines with an option on further 18 turbines, for a project in Austria. In addition, the company agreed upon a comprehensive service contract for a period of 15 years with the customer. Per Hornung Pedersen, CEO of REpower Systems AG: "We are happy about the project in Austria and hope to expand our market position there, in the future.”

Most recently, REpower had held out the prospect of a sales volume of EUR 1.4 billion as well as an EBIT margin of 7.5% for the entire fiscal year 2009/10. The executive board is keeping to these targets but emphasizes that uncertainty with regard to the achievement of these objectives has risen strongly due to an increasing amount of project postponements on the customer side in the second quarter. Furthermore, the expected recovery of the US wind market, which was anticipated by the market participants in the course of 2009, up to now failed to materialize.

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