Record Goldwind backlog despite slow Q3

CHINA: Leading Chinese turbine manufacturer Goldwind reported a net profit of CNY 889 million ($128 million) in the third quarter of 2018, down 23.5% year-on-year.

Goldwind claims to have installed almost 4.2GW so far in 2018
Goldwind claims to have installed almost 4.2GW so far in 2018

The net profit, attributable to the owners, fell from over CNY 1.16 billion ($167 million) in the corresponding period of 2017.

Operating income for the manufacturer also fell 5% to CNY 6.79 billion ($977 million).

Over the first nine months of the year, however, Goldwind witnessed an increase in profit and added to its turbine order backlog.

Net profits are up 5.35% on the previous year, totalling CNY 2.42 billion ($348 million), while operating income is also up on 2017, at CNY 17.82 billion ($2.56 billion) — an increase of 4.76%.

The manufacturer said the increase over nine months was due to more installed wind capacity and greater generation totals.

It installed almost 4.2GW across the first nine months of the year, and has a further 3.2GW under construction.

"As of 30 September 2018, the company’s signed backlog totaled 12.96GW, increasing 34.7% [year-on-year]," the company said.

Total external backlog, including successful bids that may not have been formally contracted, reached 18.21GW, the firm added — a record total.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in