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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Nel books another operating deficit

Despite achieving a positive bottom-line figure in this year’s first quarter, Nel Hydrogen books yet another substantial operating deficit in the second quarter, albeit improving the result against the same period last year.

Further reading

Related articles

Latest News

See all jobs