Hansen sales fall by more than a quarter

BELGIUM: Gearbox supplier Hansen's sales in the six months to June 30 fell by more than a quarter year on year, putting it broadly in line with the industry as a whole.

1 September 2010

The company's revenue fell from EUR295 million in H1 2009 to EUR217 in H1 2010, a 26.4% decline. The average loss of revenue across the wind power industry was 23.9%.

Profit/loss figures for Hansen over the first six months of the year are not available as the company declined to publish its half-year net income. However, its net profit in the first quarter of 2010 was just EUR1.3 million - down 92% on the same period in 2009.

The company's H1 2010 earnings before interest, tax, depreciation and amortisation (Ebitda) was EUR17.7 million compared to EUR34.5 million in H1 2009 - a decline of 48.7%.

Hansen said the falls were mainly due to a re-allocation of deliveries of gearboxes as the company worked to manage customer requirements in the current environment.