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REpower’s H1 2010 net profit up 24.6% despite revenue fall

REpower Systems AG recorded a 24.6% increase in its net result to €21.8 million in the first half (H1) of the financial year 2010/2011.

The increase came despite an 18% fall in revenues to €499m compared to the same period last year. EBIT was up almost 10% to €34.3m.

Incoming orders rose 29% to 565 MW, and the wind turbine manufacturer set up or installed 299 MW of wind turbine during the period, up 3.4% from the year before.

Outlook

Total performance for the REpower group is expected to reach €1.5-1.6 billion and the EBIT margin should reach 7.5-8.5% for the full year 2010/2011.

“The Executive Board has confirmed these targets, but would like to emphasise that uncertainty regarding the achievement of its goals has increased significantly due to a growing number of projects postponed by customers,” REpower says.

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