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Offshore lifts Senvion

Revenue rises 7.7% in the first quarter of 2017 to €392m

Offshore lifts Senvion image

Revenue at Senvion increased 7.7% to €392m in the first quarter of 2017, boosted by 219% growth in the offshore wind sector.

Offshore revenue stood at €91m in the first three months of the year compared with €29m in 2016. However, onshore revenue fell 14% to €227m from €263m last year, the company said.

Senvion’s service business contributed a further €73m in revenue in the period, which was stable compared with last year, it added.

First quarter orders stood at €353m, a 31% increase on the same quarter in 2016.

The orders came mainly from Germany and the UK, as well as new markets, such as the Czech Republic and Ireland.

Senvion said it expects to meet its forecast of €2bn in new orders during the whole of 2017.

Senvion chief executive Jürgen Geissinger said: “Our Q1 results are in line with our expectations, showing continued growth in revenues, while in the period we have implemented a significant part of our cost reduction program.”

Image: Senvion

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