Senvion aims for EUR 2.25-2.3bn revenues in 2016

DGAP-News: Senvion S.A. / Key word(s): Half Year Results

2016-08-12 / 08:26
The issuer is solely responsible for the content of this announcement.



Senvion aims for EUR 2.25-2.3bn revenues in 2016

- Q2 revenues up 7 percent to EUR 505m, adjusted EBITDA margin of 8.9 percent

- Early successes in new markets

- Full year guidance: EUR 2.25-2.3bn, adjusted EBITDA margin around 9.5 percent

Hamburg: Senvion is on track to meet its annual guidance of EUR 2.25-2.3bn in revenues and an adjusted EBITDA-margin of around 9.5 percent, following a 7 percent increase in revenues in the second quarter. The leading global manufacturer of wind turbines posted revenues of EUR 505m in the second quarter on the back of the strong performance of the offshore and service business.

Senvion improved its profitability in the second quarter, posting an adjusted EBITDA margin of 8.9 percent, while its gross margin improved by 3.3 percentage points to 29 percent. The order book remained stable at EUR 5.6bn in total orders and service contracts. Working capital for the quarter was sustained at a low level, reaching -2.7 percent and remaining well within the stated range.

The company continued its international growth strategy of screening markets for a fit to its existing products and where it can benefit from building a local presence. Following the successful entries to the Chilean and Japanese markets earlier this year, Senvion has grown as an independent company.

Jürgen Geissinger, CEO of Senvion, said: "The growth we achieved in the second quarter underlines that we are on the right strategic path. Our potential to tap into new markets exemplifies the next level of growth we aim for as an independent company. We look forward to tapping into further opportunities in the second half of the year and are confident to reach our guidance for the full year."

Senvion's half-year report is available online and further details can be found in the earnings presentation. Furthermore, the reports are available on the website of the Luxembourg Stock Exchange (www.bourse.lu) as officially appointed mechanism for the central storage of regulated information. Senvion will report figures for the third quarter 2016 on 15 November 2016.
Key Financial Highlights

  Senvion S.A. Senvion GmbH   Senvion S.A. Senvion GmbH   Senvion S.A.
(EURm, unaudited) Q2CY16 Q2CY15   H1CY16 H1CY15   PF adj. CY15
Revenues 505 471   870 927   2,139
Gross profits 146 121   268 252   608
Gross margin % 29.0% 25.7%   30.8% 27.2%   28.4%
Adjusted EBITDA 45 25   72 58   210
Adjusted EBITDA % 8.9% 5.4%   8.3% 6.2%   9.8%
Adjusted EBIT 25 12   39 30   154
Adjusted EBIT % 5.0% 2.6%   4.5% 3.3%   7.2%
Adjusted PAT 7 2   8 12   63
Net working capital % (2.7)% 6.7%   (2.7)% 6.7%   (4.7)%
Cash on hand 371 313   371 313   419
Net Debt/(Net Cash) 42 (292)   42 (292)   (3)
 

About Senvion:
Senvion is a leading global manufacturer of onshore and offshore wind turbines. The company develops, produces and markets wind turbines for almost any location - with rated outputs of 2 MW to 6.15 MW and rotor diameters of 82 metres to 152 metres. Furthermore, the company offers its customers project specific solutions in the areas of turnkey, service and maintenance, transport and installation, as well as foundation planning and construction. The systems are designed at the Senvion TechCenter in Osterrönfeld and manufactured at its German plants in Husum (North Friesland), Trampe (Brandenburg) and Bremerhaven, as well as Portugal. With approximately 3,900 employees worldwide, the company makes use of the experience gained from the manufacture and installation of more than 6,600 wind turbines around the world. The company's operational subsidiary Senvion GmbH is based in Hamburg and represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the Netherlands, the UK, Italy, Romania, Portugal, Sweden, and Poland as well as on a global level in the USA, China, Australia and Canada. Senvion S.A. is listed on the Prime Standard of the Frankfurt Stock Exchange.

Press contact:
Verena Puth
phone: +49 40 5555 090 3051
mobile: +49 174 30 54 576
email: verena.puth@senvion.com
Investor Relations contact:
Dhaval Vakil
phone: +44 20 7034 7992
mobile: +44 7788 390 185
email: dhaval.vakil@senvion.com
 

Marie-Danielle Laggner
phone: +49 40 5555 090 3040
mobile: +49 172 27 67 793
email: marie.laggner@senvion.com



2016-08-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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