With Q2 revenues up 7% and early successes in new markets wind turbine manufacturer Senvion says its growth is continuing and it is on track to meet its annual guidance figures of €2.25-2.3 bn in revenues and an adjusted EBITDA-margin of around 9.5%. The company posted revenues of €505m in the second quarter resulting from a strong performance from its offshore and service business.
Senvion improved its profitability in the second quarter, posting an adjusted EBITDA margin of 8.9%, while its gross margin improved by 3.3 percentage points to 29%. The order book remained stable at €5.6 bn in total orders and service contracts.
The company has continued its international growth strategy of screening markets for a fit to its existing products and where it can benefit from building a local presence. Following the successful entries to the Chilean and Japanese markets earlier this year, Senvion has grown as an independent company.
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."
Senvion's half-year report is available online and further details can be found in the earnings presentation.
