Goldwind revenue falls, but profit rises

CHINA: Revenue for the group totalled CNY 25.13 billion for the year, the manufacturer said, down 4.8% on the year.

by David Weston 23 March 2018

Goldwind revenues decreased, but still managed to grow profits

Goldwind said revenue from turbine sales totalled CNY 19.3 billion in 2017, a fall of 13.11% year-on-year. External turbine sales totalled 5.1GW, down 13.6%, the firm added.

Nearly 60% (3GW) of these external sales were for its 2MW turbine platform, with its 2.5MW product selling 1.37GW.

"While strengthening our core business in the past year, Goldwind accelerated innovation and actively expanded the market of overseas and offshore wind power, and has achieved remarkable performance in power generation business," said chairman Wu Gang.

Goldwind claimed 30% of the market share in China in 2017, resulting in record high order backlog of 15.9GW in the country. Its order book outside of China stands at 704.5MW following "breakthroughs" in Uzbekistan, Turkey, Kazakhstan, the Philippines, Argentina and Brazil.

Offshore, Goldwind said it installed 207.8GW in Chinese waters, which included 6.7MW prototype turbines in Fujian and Jiangsu