Business & Finance
UK: SeaEnergy Announces 2011 Results
SeaEnergy PLC announces its audited results for the year ended 31 December 2011. Financial Summary The clear financial highlight of 2011 was the conclusion of the sale of SERL to Repsol Nuevas Energias UK Limited. This resulted in the Group recording a profit of £25.3 million for the financial year
Germany: HOCHTIEF Expects Brighter Future After Setbacks in 2011
HOCHTIEF went through many challenges in 2011: The Group’s strong operating business with a new record order backlog of almost EUR 49 billion was countered by severe setbacks in two projects and its Habtoor Leighton joint venture (Dubai). The Group was unable to offset them in full and incurred an o
Germany: E.ON’s 2011 Earning Down
E.ON released financial result for 2011. “Despite a difficult business environment, we have made very good progress in implementing our strategy and reorganizing our company. We moved resolutely forward on our consolidation course; the worst adverse effects are behind us. E.ON 2.0, our efficiency-en
UK: Salmond Destroying Scotland’s Economy, Says Trump
In a letter addressed to First Minister Alex Salmond, Donald Trump said that international investors no longer see Scotland as a safe place to invest and that 83 percent of Scots consider wind farms as a “blot” on the landscape, reported Bloomberg. Trump said that Salmond is destroying Scotland’s in
Germany: TÜV SÜD Increases Revenue and Income
In 2011 TÜV SÜD set new records for revenue, income and headcount. Last year the international service corporation increased its revenue to almost EUR 1.7 billion (2010: EUR 1.55 billion); compared to the prior year, earnings before interest and taxes (EBIT) rose by 12 per cent to around EUR 160 mil
Sweden: Vattenfall’s Q1 Profit Up 92 pct
Vattenfall announced the results for the first quarter 2012. ”During the quarter we successfully concluded our divestment programme of our noncore assets. In January we received a combined total of SEK 21 billion for the sale of operations in Belgium, Finland and Poland. We have thereby been able to
UK: Renewable Energy Holdings to Sell Wave Energy Business
Renewable Energy Holdings plc, the AIM quoted investor in, and operator of, European wind power, announced its preliminary results for the year ended 31 December 2011. Subsequent to the year end, the Board of Directors has reached the decision that it would be in the best interests of shareholders t
UK: Narec to Host Breakfast Briefing Up-Skilling for Offshore Renewables
Narec in collaboration with Semta, the Sector Skills Council for science, engineering and manufacturing technologies and the National Composites Network is hosting a breakfast briefing at Narec on Tuesday 29th May. Narec has secured funding from the European Regional Development Fund for programmes
Denmark: Vestas Reports Q1 Revenues of EUR 1,105 Million
Vestas generated revenue of EUR 1,105m in the first quarter of 2012 – an increase of 4 per cent to the year-earlier period. EBIT before special items declined by EUR 135m to EUR (204)m. The EBIT margin before special items was (18.5) per cent. After special items of EUR 41m, EBIT was EUR (245)m. The
Denmark: LM Wind Power Announces EUR 707.5 Million Revenue for 2011
LM Wind Power Group made continued progress despite being faced with a range of external pressures, maintaining profitability for 2011 with revenue of EUR 707.5 million and EBITDA of EUR 73.9 million. The results are in line with expectations for the year, yet disappointing and lower than last year.
UK: DeepOcean to Rebrand Its Subsidiaries
CTC Marine Projects Ltd., Trico Offshore Ltd. and Deep Ocean AS, all subsidiaries of DeepOcean Group Holding AS, today announced that they are rebranding and changing name to DeepOcean. “The move is more than a name change,” says DeepOcean Group CEO Bart Heijermans. “We will operate as one company o
UK: SLP Engineering Resuming Business as Usual
As pointed out by Paul Thomson, managing director of SLP Engineering, the offshore engineering company is resuming business as usual, despite the fact that its parent company, the Smulders Group, is undergoing some tough financial times, EDP 24 informed. Due to considerable financial setbacks result
Germany: PowerWind Files for Insolvency
PowerWind GmbH has filed for the opening of insolvency proceedings under debtor’s self-administration on 24 April 2012. New German insolvency law offers excellent options for sustainable restructuring. PowerWind GmbH has filed for the opening of insolvency proceedings under debtor´s self-administrat
Germany: ABB’s Offshore Wind Projects to Proceed as Planned
According to the Financial Times Deutschland, Swiss engineering compay ABB is expecting its offshore wind projects to advance as planned, without delays. Peter Terwiesch, head of ABB in Germany, said that profit margins for the projects are in a “normal development corridor.” Contrary to Siemens who