Senvion Preparing The Path To Profitable Growth

Hamburg, Germany - Senvion closed its financial year 2016 with revenues of EUR 2.21bn and adjusted EBITDA margins of 9.3%. Revenues were marginally lower than expected due to minor project delays out of Senvion

Senvion has reached firm order intake of EUR 1,304m, and a closing conditional order book of EUR 1,765m, a growth of 10 percent year-on-year. With EUR 32m of free cash flow generation, Senvion exceeded its free cash flow estimate and with minus 3.7% in working capital, Senvion again achieved its working capital target and managed an even healthier balance sheet.

During the fourth quarter, Senvion managed revenues of EUR 757m, with a growth of 25%+ year-on-year and adjusted EBITDA margins of 9.7%. Senvion also achieved quarterly firm order intake of EUR 458m, with a growth of 51% year on year. With 687 MW installations worldwide from October to December 2016, Senvion reported the highest installation rate since 2013.

In the last fiscal year Senvion successfully managed market entries on a global scale in Scandinavia, Chile, and Serbia, in addition to signing a conditional offshore order for 203 MW. In India, Senvion succeeded in entering the market one year ahead of schedule due to the capital efficient acquisition of Kenersys assets and already was awarded with a 500 MW framework agreement.

These developments highlight the effectiveness of Senvion

Source: IWR Online, 17 Mar 2017