Per Hornung Pederson, CEO of REpower, announced Repower results for FY2008/09 ending March, 31^st 2009. These results show an increase at all levels compared to Y2007/08:

In its previous guidance in February 2009, the company planned to reach €1.1b in revenues for FY2008/09. Installed capacity in FY2008/09 was about 613 turbines for 1,253.3MW.

 

At the end of March 2009, the onshore backlog contained 1,317.3MW in 7 countries (in order of volumes, in Germany, France, UK, Italy, USA, Australia and Poland). Adding the offshore backlog, the total backlog contained 1,541MW (compared to 1,392MW at the end of March 2008).

 

Concerning 2009, REpower believes the market should be stable in Germany (around 1,800MW installed compared to 1,665MW in 2008) while the offshore market should really take off in 2011/2012.

 

Although the company announced higher than expected sales for FY2008/09, it keeps its sales guidance for FY2009/10: between €1.4b and €1.5b. EBIT margin should be between 7.5% and 8.5% (positive factors which helped to reach 6.3% in FY2008/09 such as lower suppliers’ prices or scale effects should still contribute to increase margins).

EET has monitored REpower for several years. If you want to know our views and valuation of the company or any other company of the Clean Tech sector, you can buy our Analyst Reports. For further details, don't hesitate to contact us at : info@eet-invest.com