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Positive news follows Repower's restructuring program
1 June 2006
Repower Systems is now bearing the fruits of its restructuring program, begun in spring 2005 after the company dropped into the red in 2004. "For the first time in the history of Repower we finished the first quarter of the business year on a positive note," says CEO Fritz Vahrenholt. The company reports earnings of EUR 1.6 million on sales of EUR 95 million in the first three months of 2006, compared with a loss of EUR 4.7 million and sales of EUR 55 million for the same period last year. The result is "exactly as predicted," says Vahrenholt. During the January to March period, Repower installed 64 turbines with a combined capacity of 114 MW, compared with just 32 turbines (61 MW) in the first quarter of 2005. The company also reports an order received in the first months of the year for 20, 2 MW turbines from Voltwerk, subsidiary of Hamburg-based renewable energy company Conergy. The backlog of signed orders at the end of March was 667.5 MW (351 turbines) compared with 454.5 MW (244 turbines) at the end of March last year. The company admits the backlog includes one order for 50, 1.5 MW machines "that has been in existence since the end of 2002." Nearly 65% of the orders are from abroad.
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