Windar Photonics - Supply chain issues dampen FY18 growth
Windar’s revenues from product sales grew by 80% year-on-year during FY18, enabling it to reduce EBITDA losses from €1.2m to €0.4m. Growth was slower than expected because of supply chain issues. Although these issues have now been resolved, they have a knock-on effect on follow-on orders for FY19, so we reduce our estimates for both forecast years.Windar Photonics is a technology group that has developed and sells a Light Detection and Ranging sensors (LIDAR) and associated products for use on electricity generating wind turbines. LIDAR wind sensors in general are designed to remotely measure wind speed and direction. Co.'s main products are the WindEye™ and WindVision™ Sensors which measure the wind speed at different measuring points by scanning a laser beam ahead of the wind turbine.
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