Bladt Industries made a profit of DKr63.5m in 2015, compared with a loss of DKr6.7m in the previous year.
The Danish fabricator said the results were “driven by strong execution of the project portfolio” – primarily offshore wind foundations and substations.
Bladt said in 2015 it executed back-to-back orders for jacket foundations for offshore wind with an order for 41 jackets for the 350MW Wikinger project, building on the production of 41 jackets for another wind farm.
Earnings before interest, tax depreciation and amortisation increased to DKr139m in 2015 up from DKr24m in 2014, despite revenues dipping slightly on the previous year to DKr2.95bn.
The company said in 2015 it “accelerated the development of its organisation and business systems within key areas such as project management, QHSE, planning, contract management and operations”.
In 2016, Bladt expects gross profit and earnings to grow further compared with last year.
The expectations are based on a strong order book with contracts for transition pieces for the monopiles for the 402MW Veja Mate and the 256MW Burbo Bank 2 offshore wind farms, and offshore substations for the 288MW Sandbank, 332MW Nordsee 1 and the 165MW Belwind 2 offshore wind farms.
Bladt Industries chief executive officer Jan Kjærsgaard said: “The investments taken and the strengthening of the organisation are important steps for the future development of Bladt Industries.
“Together with customers, suppliers and other stakeholders, Bladt Industries aims to be a key player in the maturing of the offshore wind market and to help drive down the cost of offshore wind energy by participating in standardisation and automation.”
Image: transition piece for Veja Mate offshore wind farm (Bladt)
