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REpower’s net income down on difficult year

REpower saw a 4% drop in net income for the fiscal year 2010/2011 to €55.6 million, which has been a tough year for the wind power industry.

By Renewable Energy Focus staff

Revenues fell 6.2% to €1.22 billion and the EBIT dropped 12.5% to €86m. REpower nonetheless described the fiscal year as “satisfactory”.

Derrick Noe, CFO at REpower, says: “Against the background of increasing competition and persistent project delays, we are satisfied with the results we have achieved. We have achieved the targets, which were revised in December, and are continuing to generate respectable revenues and income.”

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