The wind turbine industry can look forward to a welcome boost in upcoming financial statements after steel prices have fallen, writes Bloomberg Intelligence.

According to the agency’s analysts, manufacturers can look forward to an increase in gross margin of 100 to 200 basis points in the upcoming third quarter results. This comes in the wake of steel prices having fallen approximately 20% since the corresponding period last year.

At the same time, Bloomberg analysts point out that most turbine manufacturers have seen a significant increase in orders in 2023.

”However, we note that increased selling prices could boost profitability as it recovers from the supply chain disruptions that hit in 2022,” write analysts Rob Barnett and Alessio Mastrandrea.

(Translated using DeepL with additional editing by Kristoffer Grønbæk)