Proactive Investors - Run By Investors For Investors

Windar Photonics revenues jump as it shrugs off supply chain hindrances

Total revenue increased 59% to €3.5m (2017: €2.2m) with an 80% rise in the value of product shipments
wind turbine
The right amount of wind is crucial to performance

Windar Photonics PLC (LON:WPHO) revenues jumped by 59% in 2018 but would have been even higher without part shortages hampering the second half.

Total revenue increased 59% to €3.5m (2017: €2.2m) with an 80% rise in the value of product shipments.

Underlying losses [EBITDA] dropped to €0.36mln from €1.22mln.

The lack of some components meant deliveries on some orders, primarily for Asia, were delayed until 2019, Windar said.

Some other orders from Asia were also deferred into the current year, though Windar is confident the supply issues have been sorted.

Windar’s technology helps to optimise the performance of wind turbines and most revenues in 2018 were generated in the retrofit market segment.

A global sales agreement with wind farm giant Vestas for the retrofit market was signed In June but is expected to contribute substantially more going forward.

At the end of 2018, the company also had a record number of ongoing OEM turbine integration projects. 

Jørgen Korsgaard Jensen, Windar’s chief executive, said based on current customer projects with Vestas and demand from Asia, Windar should retro-fit revenue should grow in line with previous years.

“OEM customers will begin to act as an additional key growth driver,” he added.

View full WPHO profile View Profile

Windar Photonics PLC Timeline

December 29 2016

Related Articles

Ungani oilfield workers
October 12 2018
Buru expects to solidly drill the Ungani West 1 exploration well for 32 days before moving equipment back to Ungani 4ST1 well.
Offshore oil rig
November 01 2018
Calculated EMV10s for the contingent resources stood at US$118mln and US$82mln for the prospective resources
Greenland Minerals' project on a map
October 30 2018
The company is spearheading a campaign to reduce capital costs for its flagship project.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use