Broadwind(US:BWEN)2022-03-02 15:14Financial Performance - Total revenue declined by 35% year-over-year to $26 million in 4Q21, primarily due to lower tower demand[7] - Gross profit decreased from $2.7 million in 4Q20 to $1 million in 4Q21[7] - Adjusted EBITDA was a loss of $1.2 million in 4Q21, compared to a profit of $0.2 million in 4Q20[7] - The company's total cash and availability stood at $14.9 million as of December 31, 2021[6] Segment Performance - Heavy Fabrications segment revenue decreased by 51% year-over-year to $14.7 million in 4Q21, due to lower wind tower demand[8] - Gearing segment revenue increased by 70% year-over-year to $8.3 million in 4Q21, driven by increased energy and industrial demand[14] - Industrial Solutions segment revenue declined by 47% year-over-year to $3 million in 4Q21, impacted by lower order intake and supply chain challenges[16] Orders and Backlog - Heavy Fabrications segment orders increased by 13% year-over-year to $31.1 million in 4Q21, with backlog increasing 36% quarter-over-quarter[8] - Gearing segment orders increased by nearly 200% year-over-year to $16.8 million, and backlog improved by over 120% year-over-year[14] - Industrial Solutions segment recorded its highest order year since acquisition, but 4Q sales were impacted by over $1 million due to supply chain issues[16] Market Outlook - The company anticipates an average annual installation activity of approximately 11 GW through 2030[4] - As of March 2022, the company had received orders for nearly 50% of its full-year 2022 optimal tower production capacity[6] - Non-wind revenue has increased to 39% of total 2021 revenue, up from 8% in 2016[26]