Welcon's record revenue shaves paper-thin profit margin

State-subsidized steel from China is making the Danish wind turbine tower supplier's profit bottom out. If the EU doesn't decide to impose a tariff on Chinese steel this year, Welcon predicts that several suppliers will collapse. "But it won't be us," the CEO says.

Photo: Joachim Ladefoged/Ritzau Scanpix

2020 was the year of Covid-19 and collapse on stock markets, which inflicted deep wounds on not a few industries.

An exception was renewable energy, which in spite of macroeconomic trends saw investments increase 7 percent since the preceding year. This was felt at Danish wind turbine tower component supplier Welcon, too.

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