Enercon installations up, gross performance dips

GERMANY: Turbine manufacturer Enercon installed 3,832MW of new capacity globally in 2016, 23% up on 2015's 3,121MW, and has thereby "overcome the 2015 dip," said managing director Hans-Dieter Kettwig.

Enercon is 'over the dip' according to managing director Hans Dieter-Kettwig
Enercon is 'over the dip' according to managing director Hans Dieter-Kettwig

However, the firm's gross performance appears to have dipped. This reached roughly €5 billion in 2016, according to Kettwig, some 4.6% down on gross performance of €5.24 billion in 2015.

Gross performance is revenue plus inventories of unfinished products and projects in progress and other internally capitalised activity. In 2014 and 2015, Enercon revenue was 9-10% lower than gross performance.

Speaking at the Hannover Messe trade fair on 27 April, Kettwig forecast gross performance of roughly €5.5 billion for 2017, with installations expected to reach up to 4GW, slightly higher than 2014's €5.4 billion when installations reached 3,957MW.

Enercon has not disclosed 2016 revenue or net profit. In 2015, its profit margin was 9% down from 10% in 2014. For 2015, the company reported a net profit of €435 million on revenue of €4.79 billion, after a net profit €490 million on revenue of €4.9 billion in 2014.

In 2016, Enercon accounted for 6.6% of the global 54GW installed onshore and offshore, the company said.

By the end of March 2017, Enercon had installed a cumulated 27,000 wind turbines totalling 44.7GW worldwide.

Enercon forecasts a cumulative total of around 48GW by the end of 2017, and 60-65GW by the end of 2020.

"Staying at this level alone is a good achievement. Growth over the period will be internal," said Kettwig.

Enercon's portfolio includes 800MW of own wind capacity, but also includes wind capacity owned by competing turbine manufacturers, and a small amount of solar capacity, Kettwig added.

After renewed detailed consideration undertaken in 2016, Enercon decided against becoming active in the US and offshore wind sectors, Kettwig said.

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