Senvion S.A. / Key word(s): Change in Forecast
Senvion S.A. revises revenue guidance for fiscal year 2018
Luxembourg, November 1, 2018: Based on current information regarding the expected business development in the fourth quarter of 2018, the Management Board of Senvion S.A. ("Senvion") has today concluded to adjust the company's revenue guidance for the current fiscal year from EUR 1.8-1.9 billion to about EUR 1.6 billion. Despite shift in the revenues, Senvion expects the full year adjusted EBITDA margin1 to be around 5%, in line with the earlier guidance of 5.0%-6.5%.
Senvion installed 336 MW in the third quarter 2018, which was significantly higher than the previous quarter and 117% higher than total installations of the first half of 2018. However, the turbine installation schedule, mainly in new markets, is still recovering from delays experienced earlier in the year due to bad weather conditions and other unusual external factors. In addition, Senvion also experienced a short term disruption in the supply of a key turbine component in Europe, leading to some further temporary delays.
As a result of these developments, there is a high likelihood that some turbine installations and corresponding revenues may be shifted to early next year, leading to a revision in the guidance.
Senvion recorded an onshore order intake of EUR 1,006 million in the first nine months of 2018, 4% up compared to onshore order intake of EUR 970 million in the first nine months of 2017. Senvion also reports a cash balance of EUR 146 million cash on hand at the end of the third quarter 2018. Final results for the third quarter 2018 will be published on 14 November 2018, as previously scheduled.
1 For additional information on the alternative performance indicator used please refer to our website at Annual Financial Report 2017, page 40.
Senvion Investor Relations contact (Notifying Person):
Tel: +352 26 00 5285
|46a, avenue John F. Kennedy|
|Phone:||+352 26 00 5305|
|Fax:||+352 26 00 5301|
|ISIN:||LU1377527517, XS1223808749, XS1223809390|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Dublin, Luxembourg Stock Exchange|
|End of Announcement||DGAP News Service|