Offshore Wind Keeps Senvion on Track

German wind turbine maker Senvion posted revenues of EUR 505 million in the second quarter of 2016, a 7% increase compared to the second quarter of 2015, on the back of the strong performance of the offshore and service business.

Senvion said that the improved results in the second quarter put the company on track to meet its annual guidance of EUR 2.25-2.3 billion in revenues and an adjusted EBITDA-margin of around 9.5 percent.

The company improved its profitability in the second quarter, posting an adjusted EBITDA margin of 8.9 percent, while its gross margin improved by 3.3 percentage points to 29 percent.

The company’s order book stood at EUR 5.6 billion in total orders and service contracts at the end of the second quarter.

The company continued its international growth strategy, entering the Chilean and Japanese markets earlier this year.

Jürgen Geissinger, CEO of Senvion, said: “The growth we achieved in the second quarter underlines that we are on the right strategic path. Our potential to tap into new markets exemplifies the next level of growth we aim for as an independent company. We look forward to tapping into further opportunities in the second half of the year and are confident to reach our guidance for the full year.”

Photo: Source: Senvion

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