REpower Systems AG: turnaround in first quarter 2006

- Sales increase of 71.2% to EUR 95.0 million
- Operating result EUR +1.6 million
- Volume of orders increases by 46.9% to 667.5 megawatts
- Supply of 20 MM92 to voltwerk


Hamburg, 15 May 2006. REpower Systems AG (WKN 617703), leading supplier of wind energy turbines in the multi-megawatt class, posted gross revenues of EUR 95.0 million in the first quarter of 2005 compared with EUR 55.5 million in the same period of the previous year. This corresponds to an increase of 71.2 percent. The operating result (EBIT) improved in the reporting period from EUR –4.7 mil-lion to EUR 1.6 million. After taxes and interest, this results in positive net earnings of EUR 0.8 million after a loss of EUR –3.4 million in the previous year period.

In the first quarter of 2006, the REpower Systems AG set up 64 wind energy turbines with a nominal output of 114.0 megawatts. In the same period of last year, 32 turbines with a nominal output of 61.0 megawatts were installed.

Including the financial data of the consolidated investment companies, gross revenues in the first quarter of 2006 were EUR 88.8 million compared with EUR 50.5 million last year. Sales increased substantially year-on-year from EUR 55.5 million to EUR 95.0 million.

Earnings before interest and taxes (EBIT) amounted to EUR 1.6 million in the first three months of the current financial year compared with EUR –4.7 million in the first three months of 2005.

Orders on hand at the end of the reporting period totalled 351 wind energy turbines (previous year: 244) with a total nominal output of 667.5 megawatts (previous year: 454.5 megawatts), which corresponds to an order volume of around EUR 580.8 million (previous year: EUR 351.9 million). The wind energy turbines in-cluded in the volume of orders are distributed as follows: Germany 35.5 percent and outside Germany 64.5 percent.

 

REpower Systems AG is presenting its results on 16 May at a press conference as part of the international trade fair "WindEnergy 2006", which runs from 16 until 19 May in the Hamburg exhibition centre. The Chairman of the Executive Board of REpower Systems AG, Prof. Fritz Vahrenholt, explained when the quarterly results were presented: "This is the best first quarter in the history of the company. At the beginning of last year, we introduced an extensive restructuring programme and are now seeing the first fruits of our labours."

 

At the trade fair the company is presenting the MM92 wind energy turbine developed last year, which this year has gone into series production. With a rotor diameter of 92.5 metres and hub heights of up to 100 metres, the MM92 already achieves its nominal output with wind speeds of approx. 11 m/s and is suitable for medium to high wind speeds. At the 270 m2 REpower stand, the engine room of the new MM92 will be displayed, among others.

 

In addition, REpower is announcing the signing of a contract with voltwerk, a subsidiary of the stock-listed Conergy AG, for the supply of the first 20 MM92s. voltwerk AG is one of Germany’s leading issuing houses for renewable energy projects. With the supply of the turbines, the foundation stone has been laid for further collaboration, outside Germany as well.


Key figures for the REpower Systems Group 

01.01.06 – 31.03.06

01.01.05 – 31.03.05

94,992.1

55,470.7

88,807.4

50,534.3

1,616.4

-4,720.5

1,195.1

-5,500.6

817.5

-3,393.0

-2,397.6

-658.5

648

579



31.03.06

31.03.05

240,429.6

249,768.6

100,507.8

95,636.9

41.8

38.3

5,941,198

5,401,198

0.14

-0.62

43.91

14.10

* weighted average

Installed wind energy turbine types for first quarters of 2006 and 2005.

2005

2006

01.01. - 31.03.

01.01. - 31.03.

Number

MW

Number

MW

0

0.0

1

2.0

15

30.0

31

62.0

11

22.0

4

8.0

6

9.0

24

36.0

0

0.0

4

6.0

32

61.0

64

114.0



Volume of orders as of 31 March 2006 compared with 31 March 2005.


31.03.06

31.03.05

No. of wind turbines

Total
output in MW

No. of wind turbines

Total
output in MW

4

20.0

0

0.0

58

116.0

0

0.0

132

264.0

98

196.0

64

128.0

79

158.0

87

130.5

67

100.5

6

9.0

0

0.0

351

667.5

244

454.5



Online Press Service: You will find a selection of photo material on REpower 5M and other themes for download at www.repower.de, Link “Press” then further to link “Online-Service”.

 

Contact:
Daniela Puttenat/ Unternehmenskommunikation & Öffentlichkeitsarbeit
Thomas Schnorrenberg/Isabelle von Grone Investor Relations



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