Senvion has recorded one of the strongest first quarter order intake ever in the first three months of 2018 driven by solid business in new markets such as Australia and India in particular.
Senvion posted € 256 million in revenues the first quarter 2018 (PY: € 392 Million). In line with revenues, EBITDA was also weaker resulting in an adjusted EBITDA margin of 0.3%. Working capital was slightly higher, up 3.1% influenced by the build-up of inventory for the business installation phase in the second half of the year. Given the soft start to the year and the higher working capital the free cash flow amounted to € (59) million. The order intake in the first quarter grew by 37 % year-on-year. The company's total order book amounted to € 5.2 billion, of which € 1.9 billion was in firm orders, € 0.6 billion in conditional orders and € 2.7 billion in service orders. In particular, the onshore firm order book showed solid growth in the first quarter, growing by 35%.