REpower increases 2006 sales forecast to EUR 450 million
- Installation target for 2005 financial year reached
- International share increased to 72.4 percent
Hamburg, 4 January 2006. REpower Systems AG (WKN 617703) expects to install at least 250 wind turbines in the 2006 financial year and is increasing its sales forecast from EUR 400 million to approximately EUR 450 million. On EBIT basis, the result is expected to be roughly EUR 13 million. The installation target of 200 wind turbines in 2005 was reached with a total of 201 turbines. Due to supply bottlenecks and inclement weather, the installation of further wind turbines was pushed back into the 2006 financial year. The sales and earnings targets for 2006 do not include any economic effects from the above installation delays, which could result in a further improvement of earnings.
In 2005, REpower Systems AG installed a total of 201 turbines compared to 166 in the previous year. As a result of the increased share of the 2 Megawatt MM series, installed output rose more strongly, by 33.3 percent from 274.5 to 366 Megawatt (MW). Outside Germany a total of 142 turbines with a total output of 265 MW were installed. In terms of installed output, the international share rose from 31.9 percent in 2004 to the current figure of 72.4 percent. In the 2005 financial year, REpower generated the highest sales in France with installed output of 129.5 MW, followed by Germany (101 MW), UK (34 MW), Italy (30 MW) and Portugal (20 MW). The other turbines were installed in Japan, China, Australia, Belgium and the Czech Republic.
Supply bottlenecks for key components such as gearboxes and rotor shafts combined with ongoing inclement weather in December 2005 resulted in the installation and commissioning of some turbines being pushed back into 2006. For example, the completion of the Ffynnon Oer project in the UK has been delayed for several weeks as a result of prolonged storms. In Germany, strong rains silted up access to a wind park project so that the site is impassable for heavy goods vehicles. Furthermore, due to the onset of winter, all transportation of goods within Germany and France was stopped. Overall, the installation of a total of 25 turbines was pushed back into the coming year. Under the percentage-of-completion method, some of the sales and earnings contributions of these turbines can be realised.
For the 2006 financial year, without taking the above 25 turbines that are to be installed at the beginning of the 2006 financial year into account, REpower Systems AG plans to install at least 250 turbines. On this basis, REpower expects sales to increase to approximately EUR 450 million and to generate an EBIT of roughly EUR 13 million.
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Daniela Puttenat/ Unternehmenskommunikation & Öffentlichkeitsarbeit
Thomas Schnorrenberg/Isabelle von Grone Investor Relations