Siemens wind division has reported a fourth-quarter profit of €72 million, up from a €60 million loss a year earlier, following a disastrous end to 2014. Siemens' wind revenue, however, fell 8% to €1.5 billion from €1.6 billion which the German company put down to a fall in its onshore wind business. In Q4 last year, costs related to faulty wind turbines hit Siemens' results, forcing the wind division into a loss. Somewhat unusually, Siemens' financial year ends on 30 September.
Revenue in its third quarter increased 17% year-on-year for Denmark's Vestas as it upgraded its forecasts and started a share buy-back initiative. Revenue totalled €2.12 billion in Q3, up 17% on 2014 figures for the period and 21% higher than Q2 2015, despite a fall in order intake. The company has also set up a €150 million share buy-back scheme, running from 5 November to 31 December. Vestas said the scheme is used to adjust its capital structure.
German manufacturer Nordex posted earnings before interest and tax (EBIT) of €97.6 million in the first nine months of 2015, a 63% rise on the same period last year. Sales in the nine month period also increased 41% to €1.8 billion compared with 2014, and order intake was 57% up on last year at €1.96 billion. The strong results have led Nordex's management board to increase its sales target for 2015 from €2-2.2 billion to €2.3-2.4 billion. This is is the second consecutive quarter in which Nordex has increased its forecast.
Nine-month results
New Nordex subsidiary Acciona “uåX˜äŠÊ˜·³Ç reported pre-tax earnings of €68 million in the first nine months of 2015, up from €15 million in the same period of 2014. The increase was helped by an additional 168MW of wind capacity, including the 138MW Gouda project in South Africa.
Gamesa recorded a net profit of €126 million in the first nine months of 2015, a 91% increase on the same period last year, posted a net profit of €64 million. The almost-doubling of profits was put down to an 30% increase in sales and a EBIT of €235 million, an increase of 90.9% year on year.
China's Goldwind reported a net profit of CNY 2.18 billion ($343 million) for the first nine months of this year, up 76.41% on the same period of 2014. The growth came largely from an increase in wind turbines sales and growing capacity of wind farms wholly or partly owned by Goldwind, which generated more electricity, the listed company said in its stock market disclosure report.
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