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Germany

Germany

Nordex posts 57% leap in sales

GERMANY: Nordex Group has reported a 57% jump in sales for the first half of the year to EUR 661 million, prompting the company to up its full-year forecasts.

Nordex's best-selling N117/2400 turbine
Nordex's best-selling N117/2400 turbine

The firm swung back into the black as a result, with operating profit (EBIT) improved significantly to EUR 15 million, in sharp contrast to a loss of EUR 13.1 million in the first half of 2012.

With the firm declaring it is "even more confident about the immediate future", it has raised its forecast for the rest of the year and is now looking for a full-year sales and order intake of EUR 1.3-1.4 billion in 2013, up from EUR 1.2-1.3 billion.

The positive results come on the back of growing business in Europe, which accounts for 93% of the German turbine manufacturers' revenue.

However, Nordex admitted its performance in China and the US had taken a hit, with a market downturn causing a decline in sales and factory closures.

Production of turbines during the period rose 93% to 657MW, while the capacity of newly installed turbines almost doubled to 561MW.

Nordex said it has been especially successful with its N117/2400 low wind turbine, which launched in 2011. Overall, it said new business had risen 61% to EUR 839.4 million (H1/2012: 521.8 million), with 86% of these orders coming from the core EMEA region.

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