Latest Issue
 
Windtech International September October 2024 issue

 

FOLLOW US AT

follow

 

follow


Net sales for the quarter increased by US$36.6 million or 14.4% to US$290.1 million compared to US$253.5 million in the same period in 2017. Total billings increased by US$62.1 million or 25.6% to US$304.8 million for the three months ended December 31, 2018 compared to US$242.7 million in the same period in 2017.
 
Net sales of wind blades were US$257.8 million for the quarter as compared to US$231.0 million in the same period in 2017. Total cost of goods sold for the quarter was US$277.5 million and included US$20.5 million related to startup costs in our new plants in Turkey, Mexico, Iowa and China, the startup costs related to a new customer in Taicang, China and transition costs of US$0.7 million related to the four lines in transition during the quarter. This compares to total cost of goods sold of US$223.2 million for the same period in 2017. Corporate overhead costs included within general and administrative expenses for the three months ended December 31, 2018 totaled US$11.6 million, down slightly from US$12.0 million for the same period in 2017. Remaining general and administrative expenses during the three months ended December 31, 2018 were US$4.6 million. The net loss for the quarter was US$8.8 million as compared to net income of US$2.2 million in the same period in 2017. The decrease was primarily due to higher startup and transition costs. EBITDA for the quarter decreased to US$3.8 million, compared to US$24.2 million during the same period in 2017. EBITDA margin decreased to 1.3% compared to 9.5% in the same period in 2017. Adjusted EBITDA for the quarter decreased to US$9.8 million compared to US$28.4 million during the same period in 2017. Adjusted EBITDA margin decreased to 3.4% compared to 11.2% during the same period in 2017.
 
For the full year 2018 the company reported net sales of US$1,029.6 million (US$955.1 in 2017) with total billings of US$1,006.5 million (US$941.5 in 2017). Net income amounted to US$5.3 million (US$38.7 in 2017) and EBITDA was US$42.3 million (US$88.5 in 2017), with an EBITDA margin of 4.1% . Adjusted EBITDA amounted to US$68.2 million (US$100.1 in 2017), with an Adjusted EBITDA margin of 6.6%
 
Use of cookies

Windtech International wants to make your visit to our website as pleasant as possible. That is why we place cookies on your computer that remember your preferences. With anonymous information about your site use you also help us to improve the website. Of course we will ask for your permission first. Click Accept to use all functions of the Windtech International website.