Bladt Industries reported a 13% increase in EBITDA to Dkr157m (€21m) last year thanks to higher activity levels in the offshore wind industry.
Revenue for 2016 rose 18% to Dkr3.5bn as operating profit jumped 19% to Dkr123m, the Danish company said.
Bladt provided turbine foundations for offshore wind projects including Veja Mate, Burbo Bank 2, Walney 3&4, Arkona, Wikinger and Beatrice. It also worked on offshore substations for Sandbank, Nordsee 1, Bligh Bank and Hornsea 1 wind farms.
Several of these projects continue this year and, together with new contracted ones, ensure a continued high activity level for the company during 2017.
Bladt forecasts similar or slightly lower earnings this year due to expected market developments and competitive intensity, it said.
The company’s order book covers most of these expected results. It includes foundations for Walney, Arkona, Beatrice and Hornsea 1 offshore wind farms as well as three substations for Hornsea and non-wind infrastructure projects.
Image: Wikinger foundations (Bladt)
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