TPI Composites, Inc. (TPIC): Business Model Canvas

In der dynamischen Welt der erneuerbaren Energien erweist sich TPI Composites, Inc. (TPIC) als transformative Kraft und revolutioniert die Herstellung von Rotorblättern für Windkraftanlagen durch innovative Verbundtechnologien. Mit strategischen Partnerschaften auf globalen Märkten und dem Engagement für nachhaltige Energielösungen hat sich TPIC als wichtiger Akteur im Ökosystem sauberer Energie positioniert und liefert leistungsstarke, leichte Rotorblätter, die die Art und Weise, wie wir erneuerbaren Strom erzeugen, neu gestalten. Ihr einzigartiges Geschäftsmodell kombiniert fortschrittliche Technik, strategische Kooperationen und modernste Fertigungskapazitäten, um die Zukunft der Windenergieinnovation voranzutreiben.

TPI Composites, Inc. (TPIC) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Partnerschaften mit Herstellern von Windkraftanlagen

TPI Composites unterhält wichtige Partnerschaften mit führenden Herstellern von Windkraftanlagen:

Hersteller	Einzelheiten zur Partnerschaft	Vertragswert
Vestas Wind Systems A/S	Langfristiger Vertrag zur Herstellung von Klingen	458,2 Millionen US-Dollar Umsatz im Jahr 2022
Nordex SE	Zusammenarbeit bei der Klingenproduktion	127,6 Millionen US-Dollar im Vertragswert im Jahr 2022

Kooperationen mit Projektentwicklern für erneuerbare Energien

Zu den wichtigsten Kooperationsnetzwerken gehören:

• NextEra-Energieressourcen
• EDP Erneuerbare Energien
• Avangrid Erneuerbare Energien

Lieferkettenvereinbarungen

Rohstofflieferant	Materialtyp	Jährliches Liefervolumen
Owens Corning	Fiberglas	12.500 Tonnen
BASF SE	Verbundharze	8.750 Tonnen

Internationale Fertigungs-Joint-Ventures

TPI Composites betreibt Joint Ventures an strategischen Standorten:

Land	Produktionsstätte	Produktionskapazität
Mexiko	Produktionskomplex Juarez	1.800 Windflügel pro Jahr
Türkei	Produktionsstätte in Izmir	900 Windflügel pro Jahr

Technologie-Innovationspartnerschaften

• Verbundwerkstoffforschung des Massachusetts Institute of Technology (MIT).
• National Renewable Energy Laboratory (NREL) Advanced Manufacturing Collaboration
• Blade-Design-Partnerschaft der University of Massachusetts

TPI Composites, Inc. (TPIC) – Geschäftsmodell: Hauptaktivitäten

Herstellung von Rotorblättern für Windkraftanlagen

TPI Composites stellte im Jahr 2022 etwa 8.500 Rotorblätter für Windkraftanlagen her, mit einer Gesamtproduktionskapazität von 12 Produktionsstätten weltweit.

Produktionsstandorte	Anzahl der Einrichtungen	Jährliche Klingenproduktionskapazität
Vereinigte Staaten	4	3.500 Klingen
China	3	2.800 Klingen
Internationale Standorte	5	5.200 Klingen

Forschung und Entwicklung fortschrittlicher Verbundwerkstoffe

TPI Composites investierte im Jahr 2022 45,7 Millionen US-Dollar in Forschungs- und Entwicklungskosten.

• Fokus auf leichte Verbundwerkstoffe
• Fortschrittliche Optimierung des Klingendesigns
• Materialleistungssteigerung

Globale Fertigung und Produktionsskalierung

Der Gesamtumsatz für 2022 belief sich auf 1,73 Milliarden US-Dollar, wobei die Herstellung von Windblättern 94 % des Gesamtumsatzes ausmachte.

Produktionsmetrik	Leistung 2022
Gesamte Klingenproduktion	8.500 Klingen
Produktionsanlagen	12 globale Standorte

Design und Engineering von Windenergiekomponenten

Das Engineering-Team besteht aus etwa 250 spezialisierten Ingenieuren, die sich auf die Entwicklung und Innovation von Rotorblättern für Windkraftanlagen konzentrieren.

Lean Manufacturing und betriebliche Effizienz

Die Betriebskosten beliefen sich im Jahr 2022 auf 1,62 Milliarden US-Dollar, wobei der Schwerpunkt auf der Senkung der Herstellungskosten und der Verbesserung der Produktionseffizienz lag.

• Automatisierte Fertigungsprozesse
• Kontinuierliche Prozessverbesserung
• Strategien zur Abfallreduzierung

TPI Composites, Inc. (TPIC) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Produktionsanlagen

TPI Composites betreibt Produktionsstätten in mehreren Ländern:

Standort	Anzahl der Einrichtungen	Gesamte Produktionskapazität
Vereinigte Staaten	4	Jährlich werden 3.500 Rotorblätter für Windkraftanlagen hergestellt
Mexiko	3	2.800 Rotorblätter für Windkraftanlagen pro Jahr
China	2	Jährlich 1.600 Rotorblätter für Windkraftanlagen
Türkei	1	900 Rotorblätter für Windkraftanlagen pro Jahr

Spezialisierte Verbundwerkstoff-Expertise

Zu den wichtigsten Fähigkeiten von Verbundwerkstoffen gehören:

• Fortschrittliche Glasfaserverstärkungstechnologien
• Herstellung von Kohlefaserverbundwerkstoffen
• Möglichkeiten für das Design von Rotorblättern aus mehreren Materialien

Qualifizierte Ingenieursarbeitskräfte

Zusammensetzung der Belegschaft ab 2023:

Kategorie	Anzahl der Mitarbeiter
Gesamtzahl der Mitarbeiter	6,300
Technisches Personal	1,200
Technische Spezialisten	950

Proprietäre Fertigungstechnologien

Zu den Technologieinvestitionen gehören:

• Automatisierte Klingenfertigungssysteme
• Fortgeschrittene Harzinfusionstechniken
• Präzisionsausrüstung für das Formen von Verbundwerkstoffen

Geistiges Eigentum

Einzelheiten zum Portfolio zum Schutz geistigen Eigentums:

IP-Kategorie	Gesamtzahl
Aktive Patente	87
Ausstehende Patentanmeldungen	24

TPI Composites, Inc. (TPIC) – Geschäftsmodell: Wertversprechen

Leistungsstarke, leichte Rotorblätter für Windkraftanlagen

TPI Composites produziert Rotorblätter für Windkraftanlagen mit den folgenden Spezifikationen:

Klingenlänge	Gewichtsreduktion	Leistungseffizienz
Bis zu 83 Meter	15–20 % leichter als herkömmliche Klingen	Erhöhte Energiegewinnung um 3–5 %

Maßgeschneiderte Lösungen für den Windenergiemarkt

Zu den Möglichkeiten zur Herstellung von Rotorblättern gehören:

• Fertigung für mehrere globale Windkraftanlagenhersteller
• Kapazität von 8.500 Rotorblättern pro Jahr
• Produktionsstätten in 5 Ländern

Kostengünstige und nachhaltige Klingenproduktion

Produktionskosten	Produktionsstandorte	Jährliche Produktionskapazität
Reduzierung um 300–500 US-Dollar pro Klinge	USA, China, Mexiko, Türkei, Indien	8.500 Windturbinenblätter

Reduzierter CO2-Fußabdruck durch erneuerbare Energiekomponenten

Kennzahlen zur CO2-Reduktion:

• Jedes Blatt reduziert den CO2-Ausstoß um etwa 2.000 Tonnen pro Jahr
• Gesamtes jährliches CO2-Ausgleichspotenzial: 17 Millionen Tonnen

Innovative Verbundwerkstofftechnologien

Materialtyp	Kraftsteigerung	Gewichtsreduktion
Fortschrittliche Glas- und Kohlefaser-Verbundwerkstoffe	25–30 % höhere strukturelle Integrität	20–25 % Gewichtsreduktion

TPI Composites, Inc. (TPIC) – Geschäftsmodell: Kundenbeziehungen

Langfristige vertragsbasierte Beziehungen

TPI Composites hat langfristige Fertigungsvereinbarungen mit wichtigen Herstellern von Windkraftanlagen geschlossen. Im dritten Quartal 2023 meldete das Unternehmen fünf weltweite Erstausrüster (OEM) von Windkraftanlagen als Hauptkunden.

Kundentyp	Vertragsdauer	Jährlicher Vertragswert
Windkraftanlage OEM 1	5-7 Jahre	285 Millionen Dollar
Windkraftanlage OEM 2	4-6 Jahre	212 Millionen Dollar

Technischer Support und technische Zusammenarbeit

Das Unternehmen bietet umfassenden technischen Support durch engagierte Ingenieurteams.

• Ingenieurpersonal: 387 spezialisierte Ingenieure
• Globale technische Supportzentren: 4 Standorte
• Durchschnittliche Reaktionszeit: 6-8 Stunden

Maßgeschneiderte Produktentwicklung

TPI Composites investiert erheblich in die Entwicklung und Herstellung maßgeschneiderter Rotorblätter.

F&E-Investitionen	Kundenspezifische Designprojekte	Jährliche Entwicklungskosten
4,2 % des Umsatzes	18 aktive Projekte	42,7 Millionen US-Dollar

Laufende Wartungs- und Serviceverträge

Das Unternehmen bietet umfassende Wartungsdienstleistungen für die Herstellung von Windturbinenblättern an.

• Abdeckung durch Serviceverträge: 92 % der hergestellten Rotorblätter
• Durchschnittlicher Servicevertragswert: 1,5 Millionen US-Dollar pro Vertrag
• Gesamter Serviceumsatz im Jahr 2023: 87,3 Millionen US-Dollar

Beratender Vertriebsansatz

TPI Composites setzt eine strategische Vertriebsmethodik ein, die sich auf kundenspezifische Lösungen konzentriert.

Größe des Vertriebsteams	Kundenbindungsrate	Umsatz-Conversion-Verhältnis
62 globale Vertriebsprofis	78%	45%

TPI Composites, Inc. (TPIC) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Ab dem vierten Quartal 2023 unterhält TPI Composites ein Direktvertriebsteam von rund 87 professionellen Vertriebsmitarbeitern, die sich auf Windenergiemärkte konzentrieren.

Konferenzen der Windenergiebranche

Konferenzname	Jährliche Teilnahme	Geschätzte Reichweite
Windkraftkonferenz	2 Konferenzen/Jahr	3.500 Branchenexperten
Globaler Windgipfel	1 Konferenz/Jahr	2.800 Führungskräfte der Branche

Online-Plattformen für technisches Marketing

• LinkedIn Engineering Network: 12.500 Verbindungen
• Unternehmenswebsite: 145.000 einzelne Besucher pro Monat
• Technische Webinar-Reihe: 6–8 Webinare pro Jahr

Strategische Partnerschaftsnetzwerke

Wichtige strategische Partner ab 2024:

Partner	Partnerschaftsfokus	Jahrelange Zusammenarbeit
Vestas Windsysteme	Klingenherstellung	8 Jahre
General Electric	Lösungen für erneuerbare Energien	5 Jahre

Globale Fertigungspräsenz

Standort	Produktionsanlagen	Jährliche Produktionskapazität
Vereinigte Staaten	3 Einrichtungen	4.200 Windturbinenblätter pro Jahr
Mexiko	4 Einrichtungen	5.600 Windturbinenblätter pro Jahr
China	2 Einrichtungen	2.100 Windturbinenblätter pro Jahr

TPI Composites, Inc. (TPIC) – Geschäftsmodell: Kundensegmente

Erstausrüster für Windkraftanlagen

TPI Composites beliefert große Hersteller von Windkraftanlagen mit Rotorblattfertigungskapazitäten:

Hersteller	Blattproduktionsvolumen (2023)	Vertragsstatus
Vestas Windsysteme	2.400 Klingen	Langfristiger Fertigungsvertrag
Siemens Gamesa	1.800 Klingen	Mehrjähriger Fertigungsvertrag

Projektentwickler für erneuerbare Energien

Zu den wichtigsten Marktsegmenten für Projektentwickler gehören:

• Windenergieprojekte im Versorgungsmaßstab
• Onshore-Windentwicklung
• Offshore-Windinfrastruktur

Projekttyp	Gesamte installierte Leistung (MW)	Marktanteil
Wind im Versorgungsmaßstab	1.250 MW	8.5%
Offshore-Wind	350 MW	5.2%

Betreiber von Windparks im Versorgungsmaßstab

TPI Composites unterstützt Betreiber von Windparks im Versorgungsmaßstab mit der Herstellung spezialisierter Rotorblätter:

• Nordamerikanische Marktabdeckung
• Internationale Einsatzmöglichkeiten

Region	Betriebliche Windparks	Gesamter Klingenvorrat
Vereinigte Staaten	42 Windparks	1.600 Klingen
Europa	28 Windparks	1.100 Klingen

Staatliche und private Investoren für erneuerbare Energien

Investitionssegmente für erneuerbare Energieinfrastruktur:

• Programme für erneuerbare Energien des öffentlichen Sektors
• Private Investmentfonds
• Institutionelle Anleger

Anlegertyp	Gesamtinvestition (2023)	Windenergiezuteilung
Staatliche Mittel	850 Millionen Dollar	45%
Private Investmentfonds	1,2 Milliarden US-Dollar	62%

Internationale Märkte für saubere Energie

Details zur globalen Marktdurchdringung:

Region	Marktpräsenz	Kapazität der Klingenproduktion
Nordamerika	Primärmarkt	3.200 Klingen/Jahr
Europa	Signifikante Präsenz	2.500 Klingen/Jahr
Asien-Pazifik	Aufstrebender Markt	1.100 Klingen/Jahr

TPI Composites, Inc. (TPIC) – Geschäftsmodell: Kostenstruktur

Betrieb von Produktionsanlagen

TPI Composites betreibt mehrere Produktionsstätten mit der folgenden Kostenaufteilung:

Standort	Jährliche Betriebskosten	Größe der Einrichtung
Mexiko	42,3 Millionen US-Dollar	200.000 Quadratfuß
Vereinigte Staaten	38,7 Millionen US-Dollar	180.000 Quadratfuß
China	33,5 Millionen US-Dollar	150.000 Quadratfuß

Rohstoffbeschaffung

Rohstoffbeschaffungskosten für 2023:

• Glasfaser: 127,6 Millionen US-Dollar
• Harzmaterialien: 89,4 Millionen US-Dollar
• Kohlefaser: 64,2 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

Aufschlüsselung der F&E-Ausgaben:

Kategorie	Jährliche Investition
Rotorblatttechnologie für Windkraftanlagen	22,1 Millionen US-Dollar
Fortschrittliche Verbundwerkstoffe	15,3 Millionen US-Dollar
Innovation im Herstellungsprozess	12,7 Millionen US-Dollar

Arbeits- und Personalkosten

Arbeitskostenstruktur für 2023:

• Gesamtbelegschaft: 7.200 Mitarbeiter
• Gesamte jährliche Arbeitskosten: 214,5 Millionen US-Dollar
• Durchschnittliche Mitarbeitervergütung: 29.792 $

Transport- und Logistikkosten

Aufschlüsselung der Logistikkosten:

Transportkategorie	Jährliche Kosten
Versand von Rotorblättern für Windkraftanlagen	47,3 Millionen US-Dollar
Rohstofftransport	18,6 Millionen US-Dollar
Internationale Fracht	22,9 Millionen US-Dollar

TPI Composites, Inc. (TPIC) – Geschäftsmodell: Einnahmequellen

Verkauf von Rotorblättern für Windkraftanlagen

Für das Geschäftsjahr 2022 meldete TPI Composites einen Umsatz mit Windblättern von 837,1 Millionen US-Dollar. Das Unternehmen stellte im Jahr 2022 4.140 Windflügel her, mit einem durchschnittlichen Verkaufspreis von etwa 202.000 US-Dollar pro Flügel.

Jahr	Gesamtumsatz mit Windflügeln	Anzahl der hergestellten Klingen	Durchschnittlicher Klingenpreis
2022	837,1 Millionen US-Dollar	4,140	$202,000

Fertigungsverträge

Im Jahr 2022 erwirtschaftete TPI Composites einen Gesamtumsatz von 1,08 Milliarden US-Dollar, wobei Fertigungsverträge einen erheblichen Teil ihrer Einnahmequelle ausmachten.

• Gesamtvertragsbestand zum 31. Dezember 2022: 1,4 Milliarden US-Dollar
• Voraussichtliche Vertragserfüllung: 2-3 Jahre

Ingenieur- und Designdienstleistungen

TPI Composites meldete im Jahr 2022 einen Umsatz mit Ingenieurdienstleistungen in Höhe von 24,7 Millionen US-Dollar, der spezialisiertes Design und technische Unterstützung für Windenergieprojekte darstellt.

Lizenzierung proprietärer Technologien

Die Lizenzierung proprietärer Technologien generierte im Geschäftsjahr 2022 einen Umsatz von rund 5,2 Millionen US-Dollar.

Einnahmen aus der globalen Marktexpansion

Aufschlüsselung der globalen Markteinnahmen für 2022:

Region	Umsatzbeitrag	Prozentsatz
Vereinigte Staaten	612,3 Millionen US-Dollar	57%
Europa	294,5 Millionen US-Dollar	27%
Asien-Pazifik	173,2 Millionen US-Dollar	16%

TPI Composites, Inc. (TPIC) - Canvas Business Model: Value Propositions

You're looking at the core value TPI Composites, Inc. delivers to its customers, which are primarily wind turbine Original Equipment Manufacturers (OEMs). It's about de-risking their supply chain while delivering scale and quality.

Independent, global scale manufacturer offering supply chain diversification to OEMs

TPI Composites, Inc. positions itself as a necessary partner for OEMs needing to expand capacity without the capital expenditure burden. The company operates a global footprint, including factories in the U.S., Mexico, and India, plus engineering centers in Denmark and Germany, as of late 2025. This geographic spread helps diversify the supply chain away from single-region risks. In 2024, TPI Composites accounted for approximately 27% of all onshore wind blades globally, measured on a MW-basis, excluding China. For the full year 2025, TPI Composites projects net sales from continuing operations to land between $1.4 billion and $1.5 billion.

High-quality, cost-effective composite wind blades via advanced technology

The value proposition hinges on delivering blades that are both high-quality and cost-competitive. You see this reflected in their pricing power; the Average Sales Price (ASP) for a single wind blade manufactured for customers reached $209 thousand per set in the first quarter of 2025, up from $183 thousand in the first quarter of 2024. Furthermore, the company anticipates a nearly 8% reduction in raw material costs for 2025, driven by better supply chain management, which feeds directly into cost-effectiveness for the OEM. Still, the first quarter of 2025 showed a Gross Loss of ($13,952 thousand), indicating ongoing margin pressure despite volume increases.

Here are some key operational metrics from the first quarter of 2025:

Metric	Q1 2025 Value	Q1 2024 Value
Net Sales (Millions USD)	$336.2	$294.0
Wind Blade Sets Produced	509	488
Installed Manufacturing Lines	34	34
Factory Utilization	70%	67%

Dedicated production lines and long-term contracts for supply security

Supply security is paramount for wind farm developers, and TPI Composites locks this in through dedicated capacity. As of the end of the first quarter of 2025, the company had 36 manufacturing lines dedicated to customers under long-term supply agreements. This commitment is backed by existing relationships; for instance, supply agreements with Vestas and GE Vernova were extended through 2025 as of the fourth quarter of 2024. Demand in Mexico for 2025 was reported to exceed current capacity, prompting ramp-ups to support 24/7 operations across those lines.

BladeAssure™ program for enhanced, validated blade quality and consistency

To address quality concerns inherent in complex composite manufacturing, TPI Composites introduced the BladeAssure™ program in 2024. This is positioned as the Gold Standard process for quality wind blades. The program focuses on introducing advanced technologies to control and validate the manufacturing process, aiming to prevent inconsistencies. This quality focus is a core pillar alongside their LEAN programs.

Full-service offering including post-sale inspection and repair services

The value extends beyond the factory gate. TPI Composites maintains a global team of experienced technicians for best-in-class wind blade service capabilities. This includes preventative services, inspections, and repairs. Revenue from these field service, inspection, and repair activities showed strong growth in the first quarter of 2025, reaching $7.1 million, which was a 38.4% increase year-over-year, supported by increased technician deployment.

Finance: draft 13-week cash view by Friday.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Customer Relationships

You're managing a business where the success hinges on deep, embedded partnerships, which is exactly what TPI Composites, Inc. (TPIC) has built in the wind energy sector. Their customer relationship strategy is all about locking in capacity and co-development with the biggest players.

Deep, long-term contractual relationships with major Original Equipment Manufacturers (OEMs) form the bedrock of TPI Composites, Inc.'s revenue visibility. This isn't transactional selling; it's about securing multi-year commitments. TPI Composites, Inc. delivers high-quality, cost-effective composite solutions through these long-term relationships with leading OEMs in the wind markets. The company has long-term supply agreements in place with four of the industry's top ten OEMs. Specifically, TPI Composites, Inc. extended supply agreements with Vestas and GE Vernova through 2025 during the fourth quarter of 2024.

The core of this relationship is the dedicated production lines within TPI Composites' facilities for specific customers. TPI Composites, Inc. utilizes a collaborative dedicated supplier model, where they dedicate capacity at their facilities in exchange for customer commitments to purchase minimum annual volumes of wind blade sets. As of the first quarter of 2025, the company reported having 36 dedicated manufacturing lines under long-term supply agreements. This commitment to dedicated capacity is a key differentiator, ensuring critical capacity for their partners.

You see this commitment in action through enhanced customer collaboration on new blade model design and transition. TPI Composites, Inc. is actively working with customers on next-generation technology. For instance, demand for blades out of their Mexico factories exceeded current capacity for 2025, prompting them to ramp up lines for 24/7 operations to support these partners. Furthermore, the company is on schedule to reopen its Iowa plant in mid-2025 specifically to support GE Vernova. The Q1 2025 production increase was partly driven by the restart of a previously idled facility in Juarez, Mexico, supporting this collaborative ramp-up.

The management of these high-value relationships is handled through direct sales and service teams managing high-value, complex B2B contracts. TPI Composites, Inc. is headquartered in Scottsdale, Arizona, and operates factories across the U.S., Mexico, Türkiye, and India, with engineering development centers in Denmark and Germany, supporting a global OEM client base. The key OEM customers they serve include:

• General Electric International, Inc. and its affiliates (GE Wind)
• Vestas Wind Systems A/S (Vestas)
• Gamesa Wind US LLC (Gamesa)
• Nordex SE (or Nordex)

A constant focus is placed on operational excellence to improve customer productivity and competitiveness. This focus is critical, especially as the company navigates a strategic review. The goal is to reduce sourcing risk for customers through TPI Composites, Inc.'s quality, reliability, and total delivered cost. Here's a look at how operational metrics tied to capacity utilization, which directly impacts customer fulfillment, looked at the start of 2025:

Metric	Q1 2025	Q4 2024	Q1 2024
Utilization Percentage	70%	77%	67%
Dedicated Manufacturing Lines	36	34	N/A
Manufacturing Lines Installed	36	37	37
Wind Blade Sets Produced (Units)	509	N/A	488

For the full-year 2025 guidance, TPI Composites, Inc. projects line utilization to reach between 80% and 85% across 34 production lines. This planned utilization improvement is a direct measure of their commitment to serving contracted volumes efficiently. If onboarding takes 14+ days longer than planned, churn risk rises, so hitting that 80% target is defintely key for customer satisfaction this year.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Channels

You're looking at how TPI Composites, Inc. (TPIC) gets its product and services to the customer, which is all about long-term contracts and global logistics.

Direct sales force managing long-term, multi-year supply agreements with OEMs

The core of the channel strategy relies on locking in major Original Equipment Manufacturers (OEMs) for years. TPI Composites, Inc. extended supply agreements with Vestas and GE Vernova through 2025. As of the first quarter of 2025, the company had 36 dedicated manufacturing lines under long-term supply agreements. Demand from the U.S. market is expected to push the plants in Mexico to near capacity utilization in 2025. TPI Composites, Inc. serves customers with over 6 million square feet of manufacturing operations globally.

Here's a look at the commitment level:

• Supply agreements extended with Vestas through 2025.
• Supply agreements extended with GE Vernova through 2025.
• Dedicated manufacturing lines as of Q1 2025: 36.

Global manufacturing facilities delivering blades directly to customer assembly sites

The physical delivery channel involves a global footprint designed to serve regional markets efficiently. TPI Composites, Inc. is ramping up production lines in Mexico to support 24/7 operations because demand there exceeds current capacity for 2025. Also, the Iowa plant is scheduled to reopen in mid-2025 to support GE Vernova. For the full year ending December 31, 2025, TPI Composites, Inc. projects Net Sales from Continuing Operations between $1.4 billion and $1.5 billion. The company expects a utilization percentage of approximately 80% to 85% across the 34 installed production lines for 2025. TPI Composites, Inc. produced 6,525 wind blades in 2024.

The manufacturing and delivery network includes facilities in:

Location	Status/Activity
Mexico (Juarez, Matamoros)	Ramping up for 24/7 operations due to high demand
Newton, Iowa, U.S.	Scheduled to reopen mid-2025
Chennai, India	Part of the global hub

The estimated megawatts produced in the first quarter of 2025 was 1,933.

Field service technicians deployed directly to wind farms for repair and inspection

Beyond manufacturing, TPI Composites, Inc. uses its own technicians for aftermarket services, deploying them directly to sites. Field service, inspection, and repair services sales for the three months ended March 31, 2025, reached $7.1 million, up from $5.1 million in the same period of 2024. This represents a 38.4% increase year-over-year for the first quarter. For the full year 2025, Field Services Revenue is projected to increase by more than 50%. For the full year 2024, Field Services sales were $32.8 million.

Investor Relations and public disclosures for capital market access

Access to capital markets is managed through public disclosures, which recently included the initiation of a strategic review by the Board of Directors in May 2025. As of October 31, 2025, the stock price was $0.04. The market capitalization as of that date was $1.86M. Unrestricted cash was $171.9 million as of March 31, 2025.

Key financial disclosure points for capital access:

• Unrestricted Cash (as of 3/31/2025): $171.9 million.
• Stock Price (as of 10/31/2025): $0.04.
• Market Capitalization (as of 10/31/2025): $1.86M.
• 2025 Adjusted EBITDA Margin Guidance: 0% to 2%.

Finance: draft 13-week cash view by Friday.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Customer Segments

You're looking at the core buyers for TPI Composites, Inc. (TPIC) as of late 2025. The focus is almost entirely on the wind energy sector now, following a major strategic shift.

The primary customer base consists of Global Tier 1 Wind Turbine Original Equipment Manufacturers (OEMs). These are the giants you need to keep happy for volume and stability. For the first half of 2025 (H1 2025), the revenue concentration among the top three customers was quite clear:

Key Customer (H1 2025)	Percentage of Total Sales (H1 2025)
GE	41.7%
Vestas	35.7%
Nordex	19.1%

This concentration means that the strategic health of these three relationships dictates a large part of TPI Composites, Inc.'s financial performance. For instance, in Q2 2025, the EMEA segment sales dropped 54.9% year-over-year, mainly due to reductions in customer orders, which directly impacts the OEM segment.

The market context for these OEMs is the global onshore wind sector, excluding China. TPI Composites, Inc. has historically positioned itself as a major supplier in this space, with its market share based on TPI MW relative to global total onshore MW (excl. China) being cited from Wood Mackenzie's "Global Wind Power Market Outlook Q1 2025". The specific market share figure you noted for this segment is approximately 27% of the market share (excl. China).

Another critical segment is driven by product evolution. You have customers requiring next-generation, longer wind blade models. This drives higher pricing, as seen in Q1 2025 when the Average Selling Price (ASP) for wind blades increased to $209,000 per set from $183,000 in the prior year period. This shift in product mix is a key revenue driver, contributing to the 13.9% increase in Wind segment sales in Q1 2025.

Beyond manufacturing, there is a distinct segment of wind farm operators needing field service, inspection, and repair (Field Services). This service revenue is growing strongly, showing a 38.4% increase in Q1 2025, reaching $7.1 million, up from $5.1 million in Q1 2024. For the full year 2025 outlook, Field Services Revenue is projected to increase by over 50%.

Finally, you must account for the strategic exit from a former segment. Previously, the automotive industry, but this segment was divested in 2024. The divestiture of the automotive business to Clear Creek Investments, LLC (CCI) was expected to close on June 30, 2024, allowing TPI Composites, Inc. to focus solely on wind. To put that into perspective, in fiscal 2023, the Automotive business contributed 2% to TPI Composites, Inc.'s total revenues, while Field Service was 3%.

• Field Services sales for the full year 2024 were $32.8 million.
• The company's total net sales for Q1 2025 were $336.2 million.
• The company filed for Chapter 11 reorganization on August 11, 2025.

The next step for you is to review the Key Partners section to see which OEMs are driving the next-generation blade demand.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving TPI Composites, Inc. (TPIC) operations as of late 2025. The cost structure is heavily weighted toward production inputs and labor across its international footprint, which management is actively trying to mitigate through strategic reviews and operational execution.

High cost of goods sold remains a primary pressure point. TPI Composites has noted the ongoing challenge of absorbing or mitigating the impact of price increases in key raw materials. These materials defintely include resin and carbon reinforcements (or fiber) used in the composite wind blades. The company's ability to manage these commodity prices directly impacts its gross margin performance.

Labor costs are significant, especially given the manufacturing footprint. TPI Composites has explicitly cited higher labour costs in Türkiye and Mexico as a factor offsetting revenue improvements in early 2025. This reflects inflationary pressures and the costs associated with ramping up certain Mexican facilities to a 24/7 schedule to meet U.S. demand.

Manufacturing overhead includes facility costs and utilities. While specific dollar amounts for overhead aren't broken out in the latest guidance, these fixed and semi-variable costs are a constant drain, especially when line utilization is not at peak capacity. The 2025 utilization guidance suggests a focus on driving more volume through existing facilities to spread this overhead.

Capital expenditures projected for 2025 are set to support ongoing operations and transitions. TPI Composites has guided capital expenditures at $25 million to $30 million for the full year 2025. This level of investment is necessary for maintaining and optimizing the production lines, including the planned reopening of the Iowa plant mid-2025.

Financing costs are a major component of the overall expense base. As of the first quarter of 2025, TPI Composites reported total debt of approximately $616 million. The prompt specifically calls out interest expense on this debt; the Q1 2025 results confirmed that higher interest expenses were one of the factors offsetting operational improvements, though the exact interest expense dollar amount for the year isn't explicitly provided here, only the debt principal.

Here's a quick look at the key financial metrics and guidance that define the cost and investment side of the TPI Composites business model for 2025:

Cost/Investment Metric	Value/Guidance	Period/Context
Projected Capital Expenditures	$25 million to $30 million	Full Year 2025 Guidance
Total Debt	Approximately $616 million	As of Q1 2025
Net Sales Guidance	$1.4 billion to $1.5 billion	Full Year 2025 Guidance
Adjusted EBITDA Margin Guidance	0% to 2%	Full Year 2025 Guidance
Line Utilization Guidance	80% to 85%	Full Year 2025 Guidance (based on 34 lines)
Q1 2025 Net Sales	$336.2 million	Actual Results

The cost structure is further influenced by specific operational activities that hit the income statement:

• Increased pre-existing warranty charges were noted as a headwind in Q1 2025.
• Costs related to transitioning certain Mexican operations to a continuous schedule were a factor in Q1 2025 expenses.
• Startup and transition costs, while decreasing from prior periods, still weighed on profitability in early 2025.
• The company is actively managing costs through initiatives like 'Blade Assure' and focusing on operational excellence to drive cost-down.

Finance: draft 13-week cash view by Friday.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Revenue Streams

You see the core of TPI Composites, Inc. (TPIC) revenue coming from the manufacturing and sale of wind turbine blades directly to Original Equipment Manufacturers (OEMs). This is the engine of the business, plain and simple. To be fair, this revenue is definitely concentrated among a few key OEM customers, which is a critical point you need to watch closely when assessing risk.

Here's a quick look at the numbers we have for the first quarter of 2025 and the full-year outlook:

Revenue Component/Guidance	Q1 2025 Amount	2025 Full-Year Guidance
Net Sales (Wind Blades, Tooling, Other Wind-Related)	$329.0 million	$1.4 billion to $1.5 billion
Field Service, Inspection, and Repair Sales	$7.1 million	Projected to increase by over 50%
Total Net Sales (Q1 2025 Actual)	$336.2 million	Midpoint of $1.45 billion mentioned by some analysts

The primary revenue stream, categorized as Wind sales which includes wind blades, tooling, and other wind-related sales, hit $329.0 million for the three months ended March 31, 2025. TPI Composites, Inc. has reaffirmed its full-year 2025 net sales guidance from continuing operations to be between $1.4 billion and $1.5 billion.

Also, don't overlook the service side of the business. Revenue from field service, inspection, and repair services is growing nicely, showing real traction. For the first quarter of 2025, this segment grew by 38.4%, reaching $7.1 million compared to $5.1 million in the same period in 2024. This growth was supported by deploying more technicians to revenue-generating projects.

You can break down the revenue sources like this:

• Primary revenue from wind blade manufacturing and sales to OEMs.
• Revenue from tooling and other wind-related sales, bundled with blade sales in Q1 2025 reporting.
• Field service, inspection, and repair services, which grew 38.4% in Q1 2025.
• Revenue is concentrated among a few key OEM customers, a defintely critical point.