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Reported by Senvion on 10 January 2019

Senvion: Q4 2018 secures healthy order book for 2019

  • Full year order intake of EUR 1.52bn, with onshore order intake growth of 3% yoy
  • Q4 order intake reaches EUR 514m, including conversion of 300 MW Indian and 41 MW Spanish order into firm, yielding order intake growth in Q4 of 3% yoy
  • Order intake by capacity rose by 16% yoy from 1,740 MW to 2,011 MW in 2018
  • Conditional order intake continues to show strong momentum

Offshore wind farm Beatrice, 6.2M126 turbines in the UK (Courtesy of Senvion S.A.)

Senvion today announced turbine order intake of EUR 1.52bn in 2018, on the back of a healthy order intake in Q4. In comparison, the total order intake and the onshore order intake was EUR 1.78bn and EUR 1.47bn respectively in 2017.

The total order intake by capacity grew to 2,011 MW in 2018 - an increase of 16% yoy including 31% growth yoy recorded in onshore order intake growth by capacity. In addition to the firm order intake, Senvion also recorded over 500 MW of conditional orders in Q4.

Senvion built healthy order momentum, especially in the fourth quarter 2018 and secured EUR 514m of order intake, which is 146% higher than the order intake recorded in the third quarter of 2018. The 2018 combined order intake from new markets amounted EUR 1,024m, which is 67% of the total turbine order intake for the company. In addition, Senvion booked several large-scale conditional contracts in key growth markets across Latin America, India and Australia and re-entered Spain and the US with more than 500 MW conditional orders in those two markets alone. The company also established itself as an important market player in India with a total order book of over 1 GW of which nearly 75% is already booked as firm. The signing of the 340 MW conditional order in Chile in December is an important milestone for the market, positioning the newly launched 4.2 turbine series and is one of the largest orders in the history of the company.

The installations picked-up in the fourth quarter 2018 and reached about 458 MW. Even with some installation delays in Latin America and Australia, this is 36% higher than the third quarter. As a result, the total installations in 2018 reached about 1.1 GW.

David Hardy, Executive Director and CSO of Senvion, said: "We are glad to confirm that order intake and installations have shown a strong pick-up in the fourth quarter 2018. It has been a challenging year and we are proud that Senvion could prove its operations are capable of successfully managing that high level of installations - we have built-up a solid basis for the execution of the growing order book for 2019."

Senvion will report its full annual results on March 14, 2019.

References

[1]

Senvion S.A. Press release - Senvion: Q4 2018 secures healthy order book for 2019. URL: https://www.senvion.com/global/en/newsroom/press-releases/detail/senvion-q4-2018.... [Date Accessed: 10/01/2019].

[2]

Senvion S.A. Public assets. https://elsa.senvion.com/media/public-folder. [Date Accessed: 21/02/2017].