Danish wind supplier makes record profit

With key figures on both top and bottom line that seem to defy the wind industry's current logic, Welcon now shows that it still makes sense to manufacture towers for the offshore industry from an inland factory. However, the party has ended, says managing director.

by MAZ PLECHINGER

The most recent annual report from Danish turbine tower manufacturer Welcon seems almost illogical. In a time when the global wind industry is characterized by two interrelated tendencies — high activity and heavy price pressure – it would seem intuitive to think revenue would be high while earnings were low. Not least for a supplier, which is highly dependent on steel, a commodity that has experienced soaring prices during the fiscal year.

Already a subscriber?Log in here

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.

With your free trial you get:

Access all locked articles

Receive our daily newsletters

Access our app

Get full access for you and your coworkers

Start a free company trial today

Swedish wind developer delivers solid Q3 following sale
For subscribers
Ørsted and Vattenfall hesitate – rivals preparing for floating offshore wind
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Oil & Gas

Opedal: "Now offshore wind is perhaps the closest you can get to baseload from renewable energy"

The Equinor CEO sees good opportunities for Equinor in gas-fired power plants and solar cells with batteries, and he still believes more in blue than green hydrogen.

Equinor beats forecast in second quarter

Equinor urges Norwegian government to spend extra billions on offshore wind

For subscribers

Utilities

Employee convicted of defrauding Ørsted of over DKK 1m

For subscribers

Renewables

The crisis in the Danish wind industry: "A crappy year"

For subscribers

In 2017, Vattenfall launched its strategy to be fossil-free within one generation. After a raised finger from the authorities, it is now dropped as a slogan. | Foto: Vattenfall

Utilities

Vattenfall ditches "potentially misleading" slogan

For subscribers

Utilities

Low energy prices send E.ON's Danish business into the red

For subscribers

John Ammentorp is Country Market Director for Ramboll where he is responsible for energy in Denmark and the development of energy systems internationally.

Policy & Trading

"I'm really looking forward to trying four weeks of continuous vacation"

For subscribers

Italian energy company upgrades after good growth in oil business

”In the second quarter of 2024, we delivered results above our expectations and demonstrated significant progress,” says CEO Claudio Descalzi.

For subscribers

British power company tops in Europe after strong financial results and shareholder distribution

Drax has initiated a GBP 300 million share buyback program following the strong financial results.

A cleanup team has been fishing debris from the wing on the beaches around Vineyard Wind for the past week. | Foto: Vineyard Wind

GE: Manufacturing error at LM Wind factory resulted in offshore wind turbine failure

150 blades are being investigated after blade collapse at the US’s first commercial offshore wind farm could lead to further delays, GE executive says. He sees no indication of a design flaw.

For subscribers

Vestas is formalities away from largest order of the year

TotalEnergies buys in as an equal partner in Dutch offshore wind project and will use its share of the electricity to make green hydrogen.

For subscribers

Earnings decline at TotalEnergies

Falling gas prices and low diesel demand in Europe, among other things, affected the energy giant’s earnings in the second quarter of the year.

For subscribers

Nordex upgrades after strong operational progress in the first half-year

The German wind turbine manufacturer’s revenue grew by 25% in the first half of the year.

For subscribers

Employee convicted of defrauding Ørsted of over DKK 1m

Over six months, an American employee used his company card more than 600 times to fund everything from trips to theme parks to child support.

For subscribers

Oil & Gas

Opedal: "Now offshore wind is perhaps the closest you can get to baseload from renewable energy"

The Equinor CEO sees good opportunities for Equinor in gas-fired power plants and solar cells with batteries, and he still believes more in blue than green hydrogen.

For subscribers

Renewables

The crisis in the Danish wind industry: "A crappy year"

The majority of Danish subcontractors to the wind industry are struggling with huge losses.

For subscribers

Renewables

GE: Manufacturing error at LM Wind factory resulted in offshore wind turbine failure

150 blades are being investigated after blade collapse at the US’s first commercial offshore wind farm could lead to further delays, GE executive says. He sees no indication of a design flaw.

For subscribers

Utilities

British power company tops in Europe after strong financial results and shareholder distribution

Drax has initiated a GBP 300 million share buyback program following the strong financial results.

Utilities

Vattenfall ditches "potentially misleading" slogan

The energy company’s claim of a fossil-free life within one generation is abandoned after talks with the Dutch consumer agency. ” It remains our ambition,” maintains the CEO.

For subscribers