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REpower Systems AG has achieved a total output of € 301.4 million in the 2004 fiscal year (previous year € 299.3 million). The earnings before interest and tax (EBIT) amount to € -3.4 million compared to € 12.9 million in the previous year. After taking into account one-off effects from the initial consolidation of joint ventures, tax, interest and minority shares, this results in an annual deficit of € -9.3 million. In addition, REpower Systems AG announces the involvement of a major strategic investor. The Portuguese steel and metal construction company Martifer Construções Metalomecânis has increased its share from 5.05 to 19.5% through acquiring a block of shares from the ELBE Betreuungs- und Verwaltungsgesellschaft mbH, represented by the former REpower Board member Hugo Denker. At the meeting held on 16 March 2005, the Supervisory Board also authorised the restructuring concept developed by a management consultancy company, which, in addition to optimising the operative processes, envisages streamlining the organisation at the management level.
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