In the first quarter of 2010/11, the REpower Systems Group reported sales of € 213.1 million, compared with € 300.7 million in the same period of the previous year. Total performance saw a decline from € 287.1 million to € 204.0 million in the first quarter of 2010/11.
The operating result (EBIT) dropped from € 10.7 million in the previous year to € 1.5 million. After offsetting interest and other financing expenses and income, earnings before tax amounted to € 3.2 million (previous year: € 5.0 million). After deduction of income tax, net earnings for the first quarter totalled € 1.8 million, which represented a drop of around 18% compared with the previous year (€ 2.2 million). In the first 3 months of the fiscal year 2010/11, REpower Systems AG delivered, installed or commissioned wind turbines with a total rated output of 169MW (2009/10: 170MW). The order backlog amounted to 2.1GW as at 30 June 2010, which represented an increase of around 70% year-on-year. The contractually secured order volume thus rose from € 1.45 billion in the previous year to € 2.42 billion in the first quarter of 2010/11. The decline in sales and income was largely due to the postponement of projects by customers. From the current perspective, the Executive Board does not expect postponements during the year to have a negative impact on the full-year forecast. For the fiscal year 2010/11, REpower is therefore still anticipating an increase in total operating revenue for the Group to between € 1.5 billion and € 1.6 billion. This forecast is accompanied by an increase in the operating margin (EBIT margin) to between 7.5 and 8.5%. The earnings development expected is predominantly based on economies of scale and a further reduction in the material cost basis.
The operating result (EBIT) dropped from € 10.7 million in the previous year to € 1.5 million. After offsetting interest and other financing expenses and income, earnings before tax amounted to € 3.2 million (previous year: € 5.0 million). After deduction of income tax, net earnings for the first quarter totalled € 1.8 million, which represented a drop of around 18% compared with the previous year (€ 2.2 million). In the first 3 months of the fiscal year 2010/11, REpower Systems AG delivered, installed or commissioned wind turbines with a total rated output of 169MW (2009/10: 170MW). The order backlog amounted to 2.1GW as at 30 June 2010, which represented an increase of around 70% year-on-year. The contractually secured order volume thus rose from € 1.45 billion in the previous year to € 2.42 billion in the first quarter of 2010/11. The decline in sales and income was largely due to the postponement of projects by customers. From the current perspective, the Executive Board does not expect postponements during the year to have a negative impact on the full-year forecast. For the fiscal year 2010/11, REpower is therefore still anticipating an increase in total operating revenue for the Group to between € 1.5 billion and € 1.6 billion. This forecast is accompanied by an increase in the operating margin (EBIT margin) to between 7.5 and 8.5%. The earnings development expected is predominantly based on economies of scale and a further reduction in the material cost basis.
