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Saturday, May 29, 2010

RE Power FY10 net income up at Euro 57.9 mn (Rs.333.504 cr), But SUZLON's CFO QUITS

RE Power, a subsidiary of Suzlon Energy, has announced its financial year 2009-10 results.
It has reported net income of Euro 57.9 million (Rs.333.504 cr) as against Euro 51.9 million (Rs.298.944 cr) (YoY).

Sales rose 8.5% to Euro 1.3 billion (Rs.7488 cr) versus Euro 1.2 billion (Rs.6912 cr) (YoY).
Earning before interest and tax (EBIT) margin improved at 7.4% versus 6.3%. Order backlog rose 40% to Euro 2.1 billion (Rs.12096 cr) .

REPower Guidance -
-Management expects a 10-20% increase in the overall performance
-Sales guidance of approximately. Euro 1.5 to 1.6 billion (Rs.8640 - Rs.9216 cr)
-EBIT margins seen increasing to 7.5-8.5% .

BUT, Suzlon Energy Ltd's Chief Operating Officer Sumant Sinha has quited today.

Sinha was considered to have been responsible for the company’s recent refinancing of its overseas bonds. An official announcement may be made today, Sinha was previously with Aditya Birla Retail and the Son of fromer finance minister Mr. Yaswant Sinha.....With Sumant quiting future of Suzlon's debt restructuring seems to be in dark........Meanwhile waiting for the official declaration of Suzlons results......
Suzlon Energy's result on 29th May 2010. at 4.30pm Pune, (please notice the timing of post...reported much earlier than all...)

1 comments :

  1. HI Reader Friends !!!
    REpower's Result updates -
    The REpower Systems Group, a subsidiary of Suzlon Energy has achieved total performance of Euro 1.28 billion in FY11 as against Euro 1.33 billion in FY10, reflecting marginal fall of 3.75%. Net income for the year, at Euro 55.6 million, was only slightly down by 3.97% on the previous year`s level of Euro 57.9 million.

    Revenues dropped from Euro 1.30 billion to Euro 1.22 billion. At Euro 86.0 million, EBIT was down 12.5% on the previous year (Euro 98.3 million). The EBIT margin shrank accordingly from 7.4% to 6.7%. After financing expenses and income, earnings before tax for the 2010-11 fiscal year amounted to Euro 80.9 million as against previous year`s Euro 83.9 million.

    Overall, in the yera the 2010- 2011 REpower Systems AG Installed or supplied output amounted to 851 megawatts (previous year: 863 megawatts), of which more than 77% was destined for export. Incoming orders in the period under review came to 1,252 megawatts, which equates to a volume of EURO 1.36 billion.
    The Executive Board and Supervisory Board will propose to the AGM,likely to be held on Aug. 30, 2011, that a dividend of Euro 1.50 (previous year: Euro 1.57) is resolved for the 2010-11 fiscal year.
    An initial measure to improve efficiency is the production of REpower 2 megawatts series wind turbines at a site in Padubidri, India. The MM wind turbines produced there are to be exported to Australia and North America.

    ReplyDelete

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