Senvion S.A.: Financial close for Senvion's 299 MW Chile contract; revenue guidance adjusted
Senvion S.A. / Key word(s): Change in Forecast/Incoming Orders
Financial close for Senvion's 299 MW Chile contract; revenue guidance adjusted
Senvion has today received the information that the financial close for its conditional 299 megawatts (MW) contract in Chile has been finally achieved and the order is in conversion. The contract will see Senvion supply and install 93 turbines for two wind farm projects, Sarco and Aurora.
The completion of the projects is now scheduled for 2018. As a result and as indicated earlier, Senvion's forecast revenues will partly shift to 2018 leading to an adjusted revenue guidance for 2017 of EUR 1.9 - 1.95 billion. However, this is not expected to affect the guided adjusted EBITDA margin of the company which will stay unchanged at 8.0 - 8.5 %. The positive effects of Senvion's Move Forward efficiency program are already visibly leading to efficiency gains and lower interest costs in connection with the successful refinancing.
In the first half of 2017, Senvion had a firm order intake of EUR 940 million, 70 % higher compared to the first six months of 2016 without including the order in Chile.
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