Germany

Germany

Repower reduces profit forecast

GERMANY: Suzlon-owned Repower is reducing its profit forecast for the current financial year, with project postponements partly to blame.

Repower CEO Andreas Nauen
Repower CEO Andreas Nauen

Repower expects its total performance to be between €1.25 billion to €1.35 billion. Previously it was €1.5 billion to €1.6 billion.

Additionally, the company lowered its predictions for operating margin to 5% to 7%. Previously it was 7.5% to 8.5%.

Commenting on the announcement, Repower CEO Andreas Nauen said: "Primarily this is due to projects being postponed – wind farms are being realized later than originally planned.

"In line with market forecasts, for our company and for the whole wind industry we expect further growth in the medium to long term and thereby an increasing demand for Repower onshore and offshore products."

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