Senvion on Track for its Full Year Targets

Hamburg, Germany - Senvion, a global manufacturer of wind turbines, has remained on track for its 2016 targets in the first quarter (Jan-Mar) of 2016. The company has continued to pursue international growth, cementing its global presence on the back of market entries in Chile and its office opening in Japan.

In the first quarter of 2016, Senvion generated revenues of EUR 364 million: onshore revenues were at EUR 262 million (Jan-Mar 2015: EUR 369 million), offshore revenues at EUR 29 million (Jan-Mar 2015: EUR 28 million) and revenues in the service business at EUR 73 million (Jan-Mar 2015: EUR 56 million).

Senvion continued to improve its gross margin which now stands at 33.4 per cent (Jan-Mar 2015: 28.8 per cent); helped by a higher proportion of service revenues. Despite lower revenues compared to the first three months of 2015, Senvion achieved an adjusted EBIT margin of 3.8 per cent and adjusted EBITDA margin of 7.5 per cent compared to 3.9 per cent and 7.1 per cent in the previous comparable quarter (Jan-Mar 2015) respective.

Senvion

Source: IWR Online, 10 May 2016