Offshore wind delivers 28% of JDR's 2012 revenues

Minor growth in renewables last year, but Round 3 beckons

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JDR Cables has recorded a slight increase in offshore wind-related revenues in 2012. £36.3m - about 28% - of the manufacturer’s revenues last year derived from offshore wind contracts.

The division dedicated to offshore wind cables achieved 8% turnover growth. Its contract to supply inter array cables for Meerwind Süd-Ost was one of three key highlights last year.

But JDR’s position as an offshore wind supplier continues to be dwarfed by expansion of its offshore oil and gas business. This division recorded 89% growth last year and accounted for 72% of total revenues of £129.9m.

As a whole, the company achieved 56% revenue growth and operating profits of £20.5m. Order intake rose by 62%, to £112.5m and a further strong performance is expected this year.

With experience of deep waters and long cable distances, and having already supplied more than 400km of inter-array cables for four UK offshore wind farms, JDR believes it is well positioned to win Round 3 contracts. Its offshore wind revenues could spiral, as a result.

To date, JDR’s UK project portfolio features London Array, Greater Gabbard, Gunfleet Sands 3 and the Beatrice demonstration site. The company also hopes to supply more German and other northern European projects. Last autumn, it hired a Hamburg-based sales manager.

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