Re: [cdn-nucl-l] Key message on windpower, Germany split over green energy

[Randal Leavitt <randal.leavitt@rogers.com>]

Brown, Morgan wrote:
> "REpower" is the company that built the 5 MWe wind turbine in Germany 

[Translation: "unforeseen costs" = "lies told when borrowing the money"]

REpower revises earnings forecast for 2004

Hamburg, 27 January 2005. In a difficult market environment, REpower 
Systems AG (WKN 617703) has achieved a total output in the 2004 fiscal 
year equalling the previous year’s level. However, contrary to the 
originally made forecasts for 2004, it will considerably fall short of 
the previously expected earnings before interest and tax (EBIT) by an 
amount between EUR 5-10 million. The variance is essentially due to 
unforeseen costs related to major international projects that were 
first implemented at the end of 2004. Here unexpectedly high costs in 
implementing foreign projects and in expanding the services abroad are 
reflected in the results. In particular, the implementation at short 
notice of the large-scale Troia project in Italy and the Portuguese 
Teixero project caused expenditure clearly in excess of budgetary 
appropriations in the areas of logistics and other external services.

In 2004, REpower Systems AG erected 161 turbines with a total rated 
power of 274.5 megawatts, of which 112 turbines totalling 187.5 
megawatts were installed in Germany and 49 turbines totalling 87.5 
megawatts were erected abroad. The considerable downward trend in 
Germany compared with the same period last year (in 2003, 183 turbines 
were erected in Germany totalling 283.8 megawatts and five turbines 
were erected abroad totalling 7.5 megawatts) was able to be 
compensated for, however, by the considerable increase in the foreign 
business. The proportion of foreign business transactions increased 
from three to around 32 per cent.

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Randal Leavitt        gnupg public key: bbbad04d
Registered User 267646 at http://counter.li.org/