REpower Systems AG reported gross revenue of € 50.5 million for the first three months of 2005, compared to gross revenue of € 41.2 million in the pre-year period. In what is traditionally the weakest quarter of the year, the company thus achieved an increase of 22.7%. Earnings before interest and taxes (EBIT) decreased from € -3.3 million to € -4.7 million in the period under review. Earnings after tax amounted to € -3.4 million compared to € -2.3 million in 2004. First effects from the restructuring plan prepared in the period under review are expected to appear in the third quarter of 2005. The introduction of the ‘law to improve the tax local conditions’, which principally affects media and energy funds, is currently not likely to have a negative effect on the order situation of REpower Systems AG. A total of 32 wind turbines with a rated output of 61.0MW were installed in the first quarter of 2005. This compares to 19 turbines and a rated output of 30.0MW for the same period of last year. Orders on hand at the end of the period under review totalled 244 wind turbines (previous year 263), which corresponds to a volume of orders of around € 351.9 million (previous year: € 384.1 million). A total of 28.3% of the wind turbines in the orders on hand are assigned to the national market and 71.7% to the international market.
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