Germany-based wind OEM Senvion warned of “slightly lower” earnings in the period ahead as it lays the ground for a return to “profitable growth” in 2019 based on new market penetration and cost-of-energy reductions.
Senvion today posted revenues of €2.21bn for 2016, a 3.4% growth year-on-year, with an adjusted Ebitda profit margin of 9.3%.
As Senvion had already signalled, both 2016 and 2017 will be years of “transition” when it builds the ground “for profitable growth by 2019” as it expands its presence in new markets and works towards commercialising new products.
