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Wind industry is in trouble

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Für die Windkraft-Branche dürfte 2010 ein schwieriges Jahr werden. Quelle: apFor the wind power industry is expected to be a difficult year in 2010. Source: AP

DÜSSELDORF. In the fourth quarter of fiscal year, which ended in late March, the group came to a minus of 1.8 billion rupees (31.4 million euros). Before that, the world’s largest wind turbine company Vestas and Nordex weak numbers for the first months of 2010 were presented. "This was a difficult year for the wind industry," commented Chairman Tulsi Tanti, the group figures.

The industry was mainly the consequences of economic and financial crisis be felt, particularly in the U.S.. Thus, under already Vestas chief executive Ditlev Engel in Gespärch with Handelsblatt one that the business had crashed on the U.S. market last year and only now "slowly draws.

Sales at Vestas fell in the first quarter compared with the first three months of last year by 32 percent to 755 million euros. And earnings before interest and taxes (EBIT) dropped from plus 76 million to minus € 96 million €.

But the Gesamjahr 2010 will not be easy for the wind industry. "Grow after the sluggish start, the wind industry in the second half strong, to achieve its ambitious targets for the year yet," said Philipp Bumm, an analyst with Crédit Agricole Cheuvreux in Frankfurt. If this did not happen, then the companies would have to reduce their forecasts significantly.

The wind Nordex Group of Norderstedt, near Hamburg, needs, according to analyst Bumm this year to reach contracts for about 1,000 megawatts to the planned sales growth in the single digits. So far only about 400 megawatts of new orders are safe.

The Hamburg-based maker Repower, Suzlon India in which the Group holds a majority, had recently announced a turnover growth of 10-20 percent for this year. Provided, however, that, as CEO Per Hornung Pedersen, the largest part of the annual turnover in the second half can be realized.

In addition, overcapacity, the industry press. Pedersen estimates the global over-capacity with about 20-25 percent "now. This offers opportunities for corporations and financially-industry suppliers from the wind industry in which one or the other to enter.

The Suzlon Group had already taken over the past several competitors, including the Hamburg-based Repower. Since then, the group expresses a debt load that Suzlon try to reduce gradually again now. Currently the net debt to around 2.2 billion U.S. dollars.