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LM reports production capacity increases
1 May 2007
LM Glasfiber, the wind industry's dominant supplier of rotor blades, moved a step closer to a stock exchange listing -- still the long term goal of owner Doughty Hanson, a British fund manager -- with a positive annual report for 2006. Revenues were up by 43% to EUR 475 million and earnings before interest and tax leapt 250% to EUR 53 million, 11% of turnover. The company had forecast a 10% margin. Long term framework orders and an increase in production capacity at LM factories in China, India and Spain are expected to secure a further 25% rise in revenues. LM again forecasts a profit margin of 10%. The increases in production capacity will allow LM to produce blades for a further 1000 MW and increase its workforce by 1000 staff.
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