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China

China

Goldwind soars in the first half

CHINA: Goldwind has continued its rise as China's biggest wind turbine manufacturer, posting results for the first half of the year that show profit and revenue climbing steeply.

An increase in turbine sales was key to Goldwind's success in H1
An increase in turbine sales was key to Goldwind's success in H1

During the six months ending 30 June, revenue came in at CNY 4.4 billion ($720 million), an increase of 38% on the same period last year. This was largely due to a leap in turbine sales.

On the back of this, the Chinese manufacturer pushed its operating profit up 244% to CNY 378 million. The company managed this by bringing down costs, therefore increasing its gross profit margin by 11.8 percentage points to 30.4%.

Goldwind said it achieved this through "technological development, supply chain optimisation and lean management".

Over the period, the manufacturer sold 561 turbines with a capacity of 942MW, up from 412 turbines with a capacity of 662MW in H1 2013.

Sales of its 2.5MW machine increased steepest, with 250MW shifted, more than double the machin's sales during the same period last year, "demonstrating a shift in market demand towards larger-capacity units", Goldwind said.

The company's backlog of orders was 4.9GW at the end of the period.

Revenue from power generation from wind farms operated by Goldwind was CNY 520 million, an increase of 179%.

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