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In the first nine months of the fiscal year 2010/11, REpower Systems AG achieved a total performance of € 804.0 million, compared with a total performance of € 936.3 million for the same period of the previous year. The revenue for the period under review amounted to € 758.0 million, compared with € 920.5 million in the previous year. At € 44.4 million, EBIT was down around 21% on the previous year (€ 56.3 million). Earnings before tax amounted to € 43.1 million in the reporting period, compared with € 47.2 million in the previous year. The net result fell by 18.4% from € 32.1 million to € 26.2 million.

In the first nine months of the fiscal year 2010/11, REpower Systems AG supplied or installed wind turbines with a total capacity of 628MW. The previous year’s figure was 662MW. The order backlog at the end of the period under review stood at 2,458MW. This represents an increase of around 77% compared with the end of 2009 (1,391MW). The contractually secured order volume as at December 31, 2010 totalled almost € 2.9 billion, an increase of around 71% on the previous year’s figure of € 1.7 billion. In the period from April to December 2010, new orders were received for a total capacity of 1,019 MW (previous year: 701 MW). This represents a volume of more than € 1.1 billion. The substantial increase in incoming orders and the order backlog was due in particular to the conclusion of contracts for offshore projects with high revenue and the sale of a larger number of turbines of the REpower 3.4M104 type than in the previous year.

The company recently revised its outlook for the current fiscal year 2010/11 and now expects to achieve a total performance of € 1.25 billion to € 1.35 billion (previously: € 1.5 billion to € 1.6 billion) and an operating margin (EBIT margin) of 5% to 7% (previously: 7.5% to 8.5%). Excess capacity on the wind energy market remains high, which is expected to lead to further pressure on prices and margins for onshore wind turbines in 2011. The Executive Board has therefore commenced extensive cost-cutting measures such as the purchase of components at lower prices in Asia. In order to improve its international competitiveness the company also intends to invest in additional production facilities abroad. REpower so far owned 90% of the Portuguese rotor blade manufacturer PowerBlades and recently acquired the remaining 10% share in the joint venture from Martifer Group. With immediate effect, REpower is the sole owner of the rotor blade producer. In addition, REpower Systems AG acquired the remaining 50% share in the in 2005 jointly founded joint venture REpower Portugal from Martifer. As of now, REpower Portugal Sistemas Eólicos S.A. headquartered in Oliveira de Frades is a 100 per cent subsidiary of REpower Systems AG.
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