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Germany

Germany

Senvion shows profit rise

GERMANY: Senvion reported revenues of €505 million in the second quarter of 2016, a 7% increase on the same period last year.

New 3.4MW turbine is helping to swell Senvion's order book
New 3.4MW turbine is helping to swell Senvion's order book

The half-year results show revenues falling from €927 million in 2015 to €870 million this year. But gross profit rose from €252 million to €268 million.

Senvion said it was on track to meet its annual guidance of €2.25-2.3 billion in revenues for 2016. It has €5.6 billion of turbine orders and service contracts in the order book.

"The growth we achieved in the second quarter underlines that we are on the right strategic path," said Senvion CEO Jurgen Geissinger

"Our potential to tap into new markets exemplifies the next level of growth we aim for as an independent company," he said.

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