Offshore Wind Drives Bladt’s Performance in 2015

Driven predominantly by work in the offshore wind industry, Bladt Industries wrapped up 2015 with an annual profit of DKK 63.5 million (approx. EUR 9 million), after a challenging 2014 which ended with a loss of DKK 6.7 million (approx. EUR 900,000).

The company’s 2015 EBITDA was DKK 139 million (approx. EUR 18.7 million), a significant increase from DKK 24 million (EUR 3 million) in the previous year.

Throughout the last year, Bladt saw the highest activity level in its wind and renewable energy business area. Aside from offshore wind, Bladt is doing business in the oil and gas and infrastructure markets.

“We continue to be market leaders within project management and production of foundations and substations for offshore wind farms. In total, our reference list now counts 15 substations and more than 1,400 foundations,” the company said.

In September, Bladt and EEW Special Pipe Constructions GmbH officially opened Offshore Structures (Britain) Limited, their jointly-owned production facility in the UK. Bladt added that, along with the investments in the UK, it has continued to invest in development of the production sites in Denmark.

“The investments taken and the strengthening of the organisation are important steps for the future development of Bladt Industries. Together with customers, suppliers and other stakeholders, Bladt Industries aims to be a key player in the maturing of the offshore wind market and to help drive down the cost of offshore wind energy by participating in standardisation and automation,” said Jan Kjærsgaard, CEO, Bladt Industries.

Bladt Industries expects further growth in 2016, based on a strong order book with ongoing and firm contracts such as transition pieces for the monopile type of offshore wind foundations for the Veja Mate and Burbo Bank Extension offshore wind farms, jacket foundations for the Wikinger offshore wind farm, and offshore substations for the Sandbank, Nordsee One and the Bligh Bank 2 offshore wind farms.

Bladt said that the outlook for 2016 is also underpinned by a solid project pipeline, where an additional number of projects have been already conditionally contracted.