German outfit ABO Wind reported lower revenue and net profit in the first half of 2018, compared with the same period last year.
The renewables developer said revenue in the first six months of the year stood at €56.4m, down from €73.9m last year. Net profit was €5.5m, compared with €8.8m in 2017.
ABO Wind said that the management board had expected that this year’s figures would not be as strong as record results in 2016 and 2017.
However, the company said it secured new projects with total output of 1.6GW in the period and established new business in South Africa, Colombia and Canada, as well as established markets such as Germany, France, Finland and Argentina.
ABO added that solar energy is now as important to the company as wind power.
ABO Wind managing director Jochen Ahn said: “We are pleased with our consistently successful course of business even at a time characterised by considerable challenges, especially in Germany.”
He added that the overall result for this year is likely to be near the average of the last four financial years.