Interim report on the 3rd quarter 2016
11/2016 - Back to overview
Europe has been experiencing weak wind levels for several months, which is also reflected in the production results of the third quarter 2016.
The year 2015 was an exceptionally good wind year. After last year’s outstanding results in the wind segment, this year has been delivering wind production results well below average until September. In consequence of these contrary conditions, our EBT fell by 43% compared to the same period in 2015. At the same time, however, our revenues just barely missed last year’s levels (by 3%) due to the extensive local distribution of W.E.B wind farms as well as newly commissioned power plants.
Particularly Austria was able to just about make up for the loss in revenue after the wind farms Auersthal II, Spannberg II, and Parbasdorf II had been put into operation. The newly commissioned Canadian power plants performed even better than expected. In 2015 and 2016, the moderate growth strategy of W.E.B went hand in hand with the commissioning of new power plants, which in turn led to an increase in operating costs and depreciation compared to the previous year.
The weak wind year confirms the decision of WEB Windenergie AG to expand its portfolio and operate wind power plants in several countries. In the next weeks and months, more plants will be connected to the grid, such as the largest wind farm in W.E.B history in France and the first W.E.B wind farm in the United States of America.