Windar Photonics to report annual loss amid component shortages

Writer, Stock Market Wire
Monday, February 11, 2019 - 08:13

Windar Photonics, which provides sensor technology to wind farms, said it would report a narrower annual earnings loss after it boosted sales that were nevertheless hampered by component shortages in the second half.

The company's Ebitda loss for the year through December was seen narrowing by 71% to €0.36m, as revenue rose 59% to €3.5m.

Gross profit rose 86% to €1.7m.

'Shortages of certain components in our supply chain during the second half of 2018 impacted revenues generated in the year,' the company said.

'These shortages resulted in orders, primarily for the Asian markets received in 2017 not being fully delivered during the year and consequently being rolled into 2019.'

'This issue was compounded with expected new orders from these markets then being deferred, which will now also be delivered in 2019.'

'The primary reason for the shortages were longer than expected running in times for new fully automated compression moulding equipment which has since been resolved and the board are confident the supply chain is now capable of supporting a substantial increase in order volumes going forward.'

At 8:13am: (LON:WPHO) Windar Photonics Plc share price was -5p at 72.5p

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