Germany

Germany

Repower's record year of profit

Germany's Repower achieved a record EUR 76.9 million profit on sales of EUR 1.21 billion in the fiscal year 2008/2009 (to the end of March), well above the EUR 28.2 million profit and EUR 680 million in sales in 2007, the last calendar financial year before the company changed its accounting period. After interest and tax, profit for the past year was EUR 51.9 million, compared with EUR 21.2 million in 2007. Repower installed or delivered 613 wind turbines in the period with a combined capacity of 1253 MW, up from just 332 turbines (652 MW) in 2007. Orders at the end of March, at 620 turbines, or 1317 MW, were down, however, compared with March 2008, when they hit 696 turbines (1419 MW). Repower expects further growth in 2009/2010. Sales are forecast to reach EUR 1.4-1.5 billion, "largely secured by a firm order and framework agreement backlog," although the company notes that the risk of project postponements increased in the last quarter of the business year. The margin for earnings before interest and tax is expected to improve to 7.5-8.5% in business year 2009/2010, compared with 6.3% in 2008/2009.

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