After showing modest signs of improvement in the first quarter of this year, the division's fortunes improved dramatically from April after it won a series of major orders in Europe. Revenues increased from EUR1,561 million in H1 2009 to EUR1,815 million in H1 2010, a rise of 16.3%. Net profits were just as pronounced, rising 15.1% from EUR205 million to EUR236 million.
Overall new orders in Q2 2010 came in at EUR2.271 billion, a 26% increase compared to the corresponding period a year earlier. The division recorded its largest-ever onshore order during the quarter and is predicting a book-to-bill ratio of well above one over the remainder of the year; in other words, it has a backlog of orders.
The division's revenues in H1 2010 showed the biggest increase of the six firms surveyed at 27.5% - up from 17.8% in H1 2009.