EnergyWatch

German turbine manufacturer doubles deficit

Despite one major order, the value of Senvion's orderbook is declining. Key figures are also sliding and the EBIT loss before special items has multiplied by more than twenty.

Western wind turbine manufacturers continue the streak of releasing bleak financial reports. Siemens Gamesa kicked off the trend, Vestas continued it, and this Friday saw Germany's Senvion book setbacks across the board for this year's third quarter. The third quarter interim reports from these industry players are testaments to the increased price pressure, and Senvion's bottom line took a steeper plunge than the top line.

Revenue for the three months from July to September declined 17.9 percent to EUR 480 million year-on-year, while the net loss grew to EUR 2.9 million relative to EUR 0.8 million. The EBIT result before special items dropped from around EUR 20 million for the same period the previous year to less than EUR 1.2 million this year.

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