First published in Quoted Cleantech October 2010

Shares in Belgian wind power components maker Hansen Transmission hit their lowest level for a year as the firm warned its operating environment will remain challenging for the next two quarters.

The London-listed company, which makes gearboxes for wind turbines, said that as a result of recent significant adaptations to wind gearbox delivery schedules, volumes expectations for the second half of the firm’s current financial year have been reduced.

Consequently, the firm says its revenue will decrease by around 10% compared to that achieved last year (€532 million), having previously issued guidance of up to 10% growth.

Hansen, which says it is continuing to reduce costs to minimise the effect of lower revenues on profitability, added that it had successfully arranged amendments to its banking covenants and that it had traded comfortably within its covenant level during the three months to 30 September.

Hansen will announce its first-half results at the end of October.

Symbol: HSN

Price: 41.5p

12 month high/low: 40.25p/108p

Market cap: £279m