- Category: Company News
GE Energy has received orders and commitments for 2005 that total 2,400MW of new wind power capacity worldwide. These projects represent an anticipated increase in revenue of 300% over its first-year wind operations in 2002. From US$ 500 million in revenue in 2002, GE Energy expects its wind energy revenue to grow to more than US$ 2 billion this year. Supply orders calling for 1,600 wind turbines to be installed worldwide include 1,100 wind turbines (a total of 1,650MW) for the USA.
- Category: Company News
REpower Systems AG reported gross revenue of € 50.5 million for the first three months of 2005, compared to gross revenue of € 41.2 million in the pre-year period. In what is traditionally the weakest quarter of the year, the company thus achieved an increase of 22.7%. Earnings before interest and taxes (EBIT) decreased from € -3.3 million to € -4.7 million in the period under review. Earnings after tax amounted to € -3.4 million compared to € -2.3 million in 2004. First effects from the restructuring plan prepared in the period under review are expected to appear in the third quarter of 2005. The introduction of the ‘law to improve the tax local conditions’, which principally affects media and energy funds, is currently not likely to have a negative effect on the order situation of REpower Systems AG. A total of 32 wind turbines with a rated output of 61.0MW were installed in the first quarter of 2005. This compares to 19 turbines and a rated output of 30.0MW for the same period of last year. Orders on hand at the end of the period under review totalled 244 wind turbines (previous year 263), which corresponds to a volume of orders of around € 351.9 million (previous year: € 384.1 million). A total of 28.3% of the wind turbines in the orders on hand are assigned to the national market and 71.7% to the international market.
- Category: Company News
LM Glasfiber will commence construction of a wind tunnel dedicated to the testing of rotor blades. The wind tunnel will be custom-made to re-create the complex aerodynamic conditions in which rotor blades operate and represents an investment of approximately € 3.4 million.
- Category: Company News
On 2 June 2005, the increase in Nordex AG’s share capital resolved by its management board with the approval of the supervisory board to a total of € 58.8 million was entered in the companies register, as a result of which it has now been executed in full. This means that all the elements of the recapitalisation plan approved by the shareholders at the annual general meeting of 21 February 2005 have been completely implemented.
- Category: Company News
On 28 April 2005, LM Glasfiber Holding A/S held its AGM, at which the annual report for 2004 was approved. In the financial year 2004, the company generated revenue of DKK 2.260 million and earnings before interest, taxes, depreciation and amortisation (EBITDA) of DKK 520 million, representing an increase of 21 and 51% respectively on 2003. The company’s operating activities generated a cash inflow of DKK 295 million in 2004 compared with an inflow of DKK 111 million in 2003.
- Category: Company News
The report released by Nordex AG for the stub fiscal year 2004 (1 October to 31 December 2004) largely corresponds to the preliminary figures on the financial statements announced by the Group at its annual general meeting in February 2005. The positive news was a surge in new business by 11%, to € 62 million (previous year: € 55.5 million), especially the share generated abroad, which grew to reach 70% (previous year: 32%). In contrast, sales revenues were down by 11%, to € 59 million (previous year: € 66.7 million). The company cites the difficult financial situation as the primary reason for this. In the period under review the company did not have sufficient funding to cover all current projects. Because of the low capacity utilisation, Nordex did not manage to fully cover its costs, even though substantial cost reductions were achieved thanks to the restructuring of the company's operations.
- Novera Energy joins UK wind energy venture
- Nordex takes on N90 wind turbine blade production
- ESAB equipment chosen for new wind tower manufacturing plant
- Siemens acquires Flender Holding GmbH
- Changes in the Management Board of REpower Systems AG
- Crompton Greaves Ltd and Pauwels join forces
- Subscription ratio required for Nordex AG recapitalisation achieved
- LM Glasfiber adjusting production capacity
- Gleitz named to head GE Energy’s wind segment
- Recapitalisation approved by Nordex AG’s shareholders
- Research grant for wind turbine manufacturer
- LM Glasfiber announces financial results for 2004
- Launch of Econnect Construction
- Zephyros BV declared bankrupt
- New staff appointed at MacArtney
- NRG holds grand opening for new building
- Wind Prospect’s megawatt record
- DeWind back in business
- REpower revises earnings forecast for 2004
- Change in the board of management of Vestas Wind Systems A/S
- Nordex’s 2003/04 financial statements on target
- New president and CEO of NRG Systems