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2003 A Tough Year for LM Glasfiber

19 March 2004

The Danish supplier of wind turbine blades saw revenue fall 40% from 2002's figure to DKr1710 million in 2003.

The group posted a net loss of DKr264 million in 2003, compared with a profit of DKr11 million in 2002.

LM predicts a flat market in 2004 with growth of 0-5%, but with large regional differences. For example, it expects a much smaller market in North America and a continuing decline in Germany and Denmark, but growth is forecast for the markets in Southern Europe and Asia and a few markets in Northern Europe.

For 2004, the company forecasts a 17-23% increase in revenue to DKr2000-2100 million.





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