Germany

Germany

Nordex orders up by a third in 2011

GERMANY: Turbine manufacturer Nordex today confirmed it had recorded €1.1 billion of new orders in 2011, up 32% from €836 million in 2010.

The firm’s annual growth in orders was boosted by a strong final quarter for 2011 with €400m of new business won, compared to €306m in the last three months of the previous year.

Originally, Nordex had projected growth of 20% to €1bn for 2011. In November, following its favourable performance in the previous quarters, the firm raised its guidance for new business to the 32% figure now reached.

A statement issued by Nordex today said it particularly benefited from a strong position in the European markets, which accounted for around 77% of its order intake. A further 21% of new business came from the United States, where the group recorded a sharp increase in order receipts, particularly in the final quarter of the year, to €191m for 2011.

"On the strength of this good performance, we assume that the volume of firmly financed order backlog has risen from €411m in the previous year to €700m at the beginning of 2012," said Nordex chief executive Thomas Richterich.

Nordex will be publishing its annual report for 2011 in April.

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