JDR Cables notched up record revenues and earnings last year, thanks in part to its expanding position as a supplier of inter-array cables to Europe’s offshore wind sector.
JDR’s revenues grew 56% last year to £129.9m ($198m), while
its earnings before interest, taxes, depreciation and amortization hit £25.8m –
up from a loss of £4.1m the year prior.
JDR is among the most successful UK-based manufacturers
targeting the offshore wind sector, and recently won a significant grant from
the Department of Energy and Climate Change to research the type of
high-voltage array cabling that will be used at deep-water Round 3 projects.
In addition to its fast-growing offshore renewables
business, JDR also supplies subsea umbilical- and power-cables to the oil and
In 2007 JDR was acquired from its then-owners Bridgepoint
Capital by a group comprising its own managers, Goldman Sachs and Vision Capital.
Since 2008, its order intake has grown by 20% annually –
reaching £112.5m last year – and the company is “confident” that such growth
will continue for the foreseeable future.
2012 saw JDR complete a £30m investment programme into its
cable-production facility in Hartlepool, northeast England, while also landing
its first major offshore wind order in Germany, from the developer WindMW for
its 288MW Meerwind project.
Among the renewables projects which JDR has supplied array
cabling to are London Array, Greater Gabbard, Gunfleet Sands and the Wave Hub
in southeast England.