Positioning in key growth markets pushed LM Glasfiber’s 2005 blade sales to an all time high of 3,000 MW up 15% on 2004.
Sales growth more than doubled previous expectations while operating profit as a percentage of sales was less than expected due. LM say that this was due to a surge in raw material prices, substantial costs of capacity expansions in North America and poor capacity utilisation in their factories in Denmark and Spain in the first half of the year.
In 2006, LM Glasfiber expects a sales growth of at least 25% and operating profit is expected to represent at least 10% of revenue. Their expectations are based high visibility and global capacity expansions as well as technology advances in materials science, process technology, blade design and lightning protection.
Mark Floman, Chairman of LM Glasfiber, said: “”With this year’s results we have outperformed our sales guidance for the second year running and significantly broadened our customer base. All staff of our business units can take pride in this result. Add to that our strong technology and extended global reach, and LM Glasfiber is today in a better position than ever to meet the increasing demands of the wind energy business going mainstream.””
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