Revenues in the wind industry slumped by almost a quarter in the space of a year, according to earnings figures from six leading firms.
Analysis by Windpower Monthly of the latest results published by turbine suppliers Vestas, Nordex, Gamesa, Suzlon and Siemens, along with gearbox manufacturer Hansen, reveals a collective drop in revenues from EUR8.77 billion between January and June (H1) 2009 to EUR6.59 billion in the same period in 2010 – a decline of 23.9%.
To allow for the differences in fiscal years between companies, this analysis considers the calendar half-year January to June to be H1.
A survey of bottom-line results reveals a similar picture: in H1 2009, Vestas, Nordex, Gamesa, Suzlon and Siemens achieved an overall net profit of EUR348.4 million; in the first six months of this year the same firms reported a collective net loss of EUR124.4 million. Hansen declined to reveal its H1 2010 net profit/loss figure.
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