It seems things are not going according to plan for German wind turbine manufacturer Senvion after the release of its third- quarter interim report Friday. At EUR 2.8 billion, the current value of the company's fixed and conditional orders is at its lowest in years.
This does not necessarily mean that fewer MW have entered the books, which is not the sort of thing disclosed in the report. However, it is apparent that revenue in the first nine months of the year was 10 percent lower – and the adjusted EBIT result a third lower – than the same period last year, even though 10.5 percent more MW were installed. This points to another explanation for the decline: The notorious increasing price pressure in the industry.
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