Moventas has increased its net sales in 2007 by 40% to € 291 million. Profitability has improved and the number of employees grew by 120.
Strong demand in the wind energy market is responsible for Moventas's growth. The strong growth of Moventas' net sales is due primarily to wind turbine gears. Moventas' profitability also improved with earnings before interest, taxes, depreciation, and amortization (EBITDA) of € 34 million, or 12% of sales. The number of employees increased by 120. The majority of new employees were hired for wind turbine gear production in Jyväskylä, in central Finland. In 2008, recruiting needs at Moventas are about 300 people. In 2007, Moventas made a significant decision to expand its production capacity in Finland. Factory expansion investments totaling approximately € 130 million are underway in Karkkila and Jyväskylä, and a new wind turbine gear factory is being built in Jyväskylä. Production is scheduled to start in the fall of 2008, and the entire production capacity will be in use by the end of 2009.
