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Hansen Transmissions International NV has announces its results for the 3 months ended 30 September 2009 and for the 6 months ended 30 September 2009.
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The Group's results for the first half of the financial year 2010 were significantly impacted by lower than expected volumes. Revenue decreased by 3.1% in the first half of the financial year 2010 compared to the same period last year. This revenue decrease was due to a reduction in scheduled deliveries of wind turbine gearboxes as Hansen worked with customers to manage their requirements in line with the current operating and credit environment. With a decreased revenue in the period, the Company's fixed cost absorption rate of overheads deteriorated versus 1H FY 2009. Two new wind turbine gearbox factories were built in India and China resulting in additional depreciation, fixed operational and general administrative costs. These investments remain strategically important to the future positioning of the business. Revenue from the sale of wind turbine gearboxes was € 245 million compared to € 256 million the previous year(minus 4,4%).
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