Goldwind profits surge in 2013

Orders outstanding were about 3,364 megawatts at the end of 2013, it said. It has an additional 4,156.5 megawatts of orders lined up for which contracts have to be signed.

Xinjiang Goldwind Science & Technology Co., Ltd said that its profit attributable to owners of the Company for financial year ended 31 December 2013 significantly increased to RMB 427.65 million from the prior year’s RMB 153.05 million, with earnings per share improving to RMB0.16 from RMB0.06 last year.

China “saw a recovery in the wind power market in 2013, with an obvious pick-up in new installations,” the company said. It sees a rebound in the global wind market this year.

Revenue for the year rose to RMB 12.20 billion from RMB 11.22 billion last year.

The Board recommended the payment of a final dividend of RMB0.08 per share from the Company’s retained distributable profit for the financial year ended 31 December 2013. This recommendation is subject to approval by the Shareholders at the forthcoming AGM for the year of 2013 in accordance with the provisions of the Articles, and will be implemented thereafter. Information regarding the date of the AGM for the year of 2013, distribution of final dividend, and the relevant record dates and book close dates will be announced in due course.

Goldwind, along with competitors led by Vestas of Denmark, seek to cut costs to improve profitability. China, the world’s biggest wind energy market, may add 14.7 gigawatts of wind capacity this year, compared with 14 gigawatts estimated for 2013.

The gross margin on wind turbines was 20.25 percent last year, 6.56 percentage points higher than the previous year, Goldwind said.

According to the Chinese Wind Energy Association’s wind power market update for 2013,China’s domestic newly installed wind power capacity was 16.09gigawatts in 2013, an increase of 24% from 2012.
Goldwind’s domestic newly installed capacity in China for 2013 was 3,750.25 megawatts (MW) with a corresponding market share of 23.30%, continuing to rank Goldwind as first in its domestic market for three consecutive years.
According to the Global Wind Turbine OEM 2013 Market Share report issued by MAKE (an international consulting firm for renewable energy), Goldwind has become the second largest wind turbine manufacturer in the world, with a global market share of 10.3%,measured by newly installed generating capacity.
As of December 31, 2013, Goldwind had a total of 3,363.75MW in outstanding orders for wind turbines, and had won bids for projects totaling 4,156.50MW for which contracts have not yet been signed. The combined order backlog was 7,520.25MW at year end 2013.
During the year, Goldwind continued to take aggressive but prudent actions to improve revenues in its three business segments: wind turbines, wind power services, and wind farms.
Wind turbine sales revenues in 2013 increased 6.06% from 2012 to RMB11,221.66 million. Wind power services had revenues of RMB589.96 million in 2013, up 50.45% from 2012. Revenues from electric power generated by wind farms operated by Goldwind in 2013 were RMB384.62 million, up 52.65% from 2012.
Goldwind has been promoting its internationalization strategy for several years and made progress in 2013. Goldwind’s revenues in international markets were RMB1,361.39 million in 2013, which accounted for 11.16% of its revenues from operations. Goldwind installed 237MW of wind turbines in overseas markets during the year.
Mr. Wu Gang, Chairman of the Board of Goldwind, said, “The global wind power industry faced many challenges in 2013. In comparison, China’s environmental policies were more encouraging for the wind power industry and the market environment improved. China’s wind farm grid connectivity and curtailment improved in 2013 as the government introduced several encouraging policies, and after two years of industry adjustments, China’s wind power industry welcomed a gradual recovery.
Xinjiang Goldwind Science & Technology Co., Ltd., is the largest manufacturer of wind turbines in China, and among the largest in the world. With strong R&D capabilities, Goldwind is the world’s largest manufacturer of direct-drive permanent magnet wind turbines, representing the industry’s next generation technology. Goldwind is listed on the Shenzhen Stock Exchange (stock code: 002202) and The Stock Exchange of Hong Kong Limited (stock code: 2208).
As at December 31, 2013, Goldwind’s accumulated wind power installations exceeded 19 gigawatts, and it has installed more than 14,000 wind turbine units around the world. That wind power generation capacity is equivalent to 13 million tons of coal saved per year or 39 million tons of carbon emissions reduced per year or 21 million cubic meters of newly planted forest.

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