LM Wind Power upbeat on growth

Danish turbine blade specialist LM Wind Power said it is feeling the benefit of the wind industry’s bounceback to growth as it posted improved sales for the first quarter of 2014.

LM Wind Power pointed to especially strong business in the US as it unveiled sales of €124.2m ($170m), 17% up on the same stage last year.

The company said: “Overall growth was the result of renewed and more consistent political support at a federal level that has restored customer confidence.”

LM Wind Power improved operating profits before depreciation and amortisation by €1.1m to €8.8m, and said a net loss of €15.2m was in line with expectations.

The Danish group said: "LM Wind Power is focused on growth, for which foundations were laid during a strategic management review last year.

“Our new facility in Brazil commenced operations in the first quarter of 2014. The level of customer interest and the long term outlook for this rapidly developing wind market remains very promising.”

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