REpower Announces 1st Quarter 2011/12 Results with EUR 4.2m Net Earnings (Germany)
The REpower Systems Group (WKN 617703) increased its sales by approx. 23% to EUR 262.5 million (previous year: EUR 213.1 million) in the first quarter of the 2011/12 fiscal year (April 1 to June 30, 2011).
Total performance grew by nearly 22% from EUR 204.0 million to EUR 248.3 million. EBIT was EUR 10.0 million (Q1 2010/11: EUR 1.5 million) in the period under review. After offsetting interest and other financing income and expenses, earnings before tax amounted to EUR 7.6 million (Q1 2010/11: EUR 3.2 million). In the period under review, REpower generated net earnings of EUR 4.2 million, following EUR 1.8 million in Q1 2010/11.
In the first three months of the 2011/12 fiscal year, REpower Systems SE installed or supplied wind turbines with a total capacity of 195 megawatts (MW). This represents an increase of about 15% compared with the first quarter of 2010/11 (169 MW). A large part of the capacity is attributed to the Ormonde project, off the British coast. Construction of the 30 turbines was completed in early August, three weeks ahead of schedule. Andreas Nauen, CEO of REpower Systems SE, is pleased with the progress: “Ormonde has helped us show the market that we are able to accomplish large offshore projects.”
Incoming orders in the period under review were EUR 218 million, down from EUR 323 million in the first quarter of 2010/11. Contractually secured order volume as at June 30, 2011 was approx. EUR 2.61 billion. This represents an increase of about 8% compared with the previous year’s reporting date (EUR 2.42 billion).
REpower confirms its forecast for significant sales and earnings growth in the 2011/12 fiscal year.
Source: repower, August 12, 2011