Hamburg-based REpower, which is majority owned by India’s Suzlon, saw its first-quarter operating profit sink to €1.5m ($1.9m) from €10.7m last year.
Revenues at the company fell to €213.1m from €300.7m during the same period last year.
REpower blames the declines on the “postponement of projects by customers”, but maintains its full-year sales guidance of €1.5bn-€1.6bn.
Turbine makers are facing an oversupplied market in which prices have shrunk 15% since 2008.
