Senvion has announced its results for the third quarter 2018. Installations were higher in the third quarter, with total installed capacity up 17% compared to total installations in the first six months of 2018.
Revenues rose accordingly, reaching € 343 million in the third quarter while adjusted EBITDA increased to € 30 million, up 130% compared to the previous quarter. This increase was also reflected in an improved adjusted EBITDA margin of 8.6%.
Senvion recorded a total onshore order intake of € 1,006 million by the end of the third quarter. Firm order book improved by 37% year on year. Senvion also recorded more than 1 GW of conditional orders in the third quarter on the back of continued large-scale orders from new markets. Moreover, Senvion continued the fast growth of its service business with order book of € 2.8 billion at the end of the third quarter, providing high visibility into 2019.
Senvion reported earlier in November that it adjusted its revenue guidance for the full year from € 1.8 billion - 1.9 billion to around € 1.6 billion based on installation delays experienced earlier in the year. For 2019, Senvion sees a significant growth potential as the company has already secured a firm revenue coverage of € 1.7bn and boasts a strong order pipeline.
