Senvion aims for EUR 2.25-2.3bn revenues in 2016
Q2 revenues up 7 percent to EUR 505m, adjusted EBITDA margin of 8.9 percent / Early successes in new markets / Full year guidance: EUR 2.25-2.3bn, adjusted EBITDA margin around 9.5 percent
Senvion 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 order book remained stable at EUR 5.6bn in total orders and service contracts. Working capital for the quarter was sustained at a low level, reaching -2.7 percent and remaining well within the stated range.
The company 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. Furthermore, the reports are available on the website of the Luxembourg Stock Exchange (www.bourse.lu) as officially appointed mechanism for the central storage of regulated information. Senvion will report figures for the third quarter 2016 on 15 November 2016.
Key Financial Highlights
Senvion is a leading global manufacturer of onshore and offshore wind turbines. The company develops, produces and markets wind turbines for almost any location - with rated outputs of 2 MW to 6.15 MW and rotor diameters of 82 metres to 152 metres. Furthermore, the company offers its customers project specific solutions in the areas of turnkey, service and maintenance, transport and installation, as well as foundation planning and construction. The systems are designed at the Senvion TechCenter in Osterrönfeld and manufactured at its German plants in Husum (North Friesland), Trampe (Brandenburg) and Bremerhaven, as well as Portugal. With approximately 3,900 employees worldwide, the company makes use of the experience gained from the manufacture and installation of more than 6,600 wind turbines around the world. The company's operational subsidiary Senvion GmbH is based in Hamburg and represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the Netherlands, the UK, Italy, Romania, Portugal, Sweden, and Poland as well as on a global level in the USA, China, Australia and Canada. Senvion S.A. is listed on the Prime Standard of the Frankfurt Stock Exchange.