Germany

Germany

Preliminary results for German duo

Nordex, which along with fellow German firm Repower hovers near the bottom of the top ten ranking of wind turbine suppliers globally, reports a big increase in orders during the 2007 financial year, up 140% to EUR 2.9 billion compared with EUR 1.2 billion in 2006. Firm orders stand at EUR 1 billion with a further EUR 1.9 billion marked as conditional. The pipeline "is sufficient to ensure that Nordex can meet its revenue targets in full in both 2008 and 2009," says the company.

According to its preliminary results, sales in 2007 were up 45% to about EUR 747 million compared with EUR 514 million the previous year, "growing more quickly than the market, which expanded by roughly 30%." Earnings before interest and tax (EBIT) rose by around 140% to EUR 40 million after EUR 16.6 million in 2006, representing a hike in profit from 3.2% the previous year to 5.4%, says the company.

Repower, owned by India's Suzlon, also reports a surge in sales and orders. Posting record preliminary results, it notes that EBIT for the 12 months to the end of March 2008 was EUR 28.2 million, more than double the previous year's figure of EUR 12.2 million. Sales were up 48.2% to EUR 680.2 million compared with EUR 458.8 million in 2006. Orders also rose to an all time high, standing at 1298 MW by end 2007, compared with 933 MW in 2006, representing a potential sales volume of nearly EUR 1.3 billion, up from EUR 843 million at end 2006. Repower has raised its forecast for the next financial year. It now expects an increase in sales to EUR 1.1 billion and an EBIT margin of 5.5-6.5%.

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