India-based turbine maker Suzlon has posted its second consecutive quarter of positive EBITDA at the consolidated level, reaffirming its improved performance, according to the company's financial report for the first quarter of financial year 2014-15 (FY15).
Kirti Vagadia, Suzlon's group head of finance, comments, ‘We are pleased to post a positive EBITDA for the second consecutive quarter at the consolidated level, primarily driven by a focus on profitable markets and product mix. We continue to maintain a strong order book at [approximately] 4.9 GW, valued at $7 billion.’
Other highlights of the report include a 21% year-over-year growth in consolidated revenue, an improved gross margin from 29.1% to 33.5%, and a sustained increase in sales volumes at Suzlon Wind. Furthermore, the company says Senvion remains its marquee asset, with revenue up by 8.5% year-over-year.
Suzlon's onshore order book for emerging markets (India, Brazil & Uruguay) tallied up to approximately $1.1 billion, and "developed markets" came in at about $4.7 billion. The order book for offshore wind, meanwhile, equaled $1.2 billion.
Suzlon says its key priorities in FY15 include ramping up volumes with a focus on the Indian market, improving business efficiency and optimizing the capital structure.
