Growing turbine sales help Goldwind lift 9-mo earnings

Chinese wind turbine maker Xinjiang Goldwind Science & Technology (SHE:002202) saw its net profit in the third quarter and first nine months of 2024 grow as it benefitted from higher turbine sales.

Goldwind closed January-September with a net attributable profit of CNY 1.79 billion (USD 250.6m/EUR 231.8m), which jumped by 42.14% in annual terms as external turbine sale volumes increased. In the third quarter alone, net attributable profit stood at CNY 405.3 million, up from CNY 9.5 million a year back.

Operating income in the first nine months of 2024 gained 22.2% year-on-year, coming at CNY 35.84 billion.

Goldwind sold 9,709 MW of wind turbines in the reporting period, boosting volumes from a year earlier by 9.05%. Roughly 4,043 MW of all orders were for hardware in the 4 MW-6 MW class, which accounted for 41.6% of the total sales volumes in the nine months, while machines in the 6-MW-plus category represented 57.6% of the total with 5,596 MW sold.

As of end-September, Goldwind had 29,472.1 MW of external orders to be executed, including 9,456.4 MW for 4-MW class turbines and 19,222 MW for units of 6 MW and above. Additionally, some 11,909 MW of turbines were ordered but contracts for their delivery have still not been signed.

(CNY 1.0 = USD 0.140/EUR 0.129)

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