Senvion has closed the year with a firm order intake of €1.776bn in calendar year 2017, v/s order intake guidance of about €2.0bn, as two key order conversions have been delayed and shifted into early 2018.
This risk of potential delays in converting orders is not unusual in a project driven business like Senvion and was already highlighted in our third quarter release. It is also pertinent to note that these delayed orders are already signed orders and accounted for in the conditional order book at the year end.
In 2017 Senvion S.A. achieved a firm order intake of EUR 1.776 billion (2016: EUR 1.304 billion), a year-on-year growth of more than 36%. This growth was mainly driven by new markets (Australia, South America, others) with firm order intake of EUR 685 million in 2017 (2016: EUR 145 million) and by offshore business with a firm order intake of EUR 306 million in 2017 (2016: EUR 0.0 million). Current markets witnessed a slowdown in order intake with firm order intake in Germany amounting to EUR 383 million in 2017 (2016: EUR 479 million).
Firm order intake is defined as the value of the contractually agreed orders which are not subject to further conditions.