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Germany

Germany

Strong EMEA performance pushes Nordex sales

GERMANY: Nordex has announced a 33% rise in sales in its provisional 2013 results, to help take the company into profit for the year.

Nordex said earnings before interest and tax (EBIT) where EUR 44.3 million, a rise of 3% on the previous year.

Total sales for the year were worth EUR 1.075 billion. Overall the total results were at the upper end of the guidance range.

The strong figures were largely down to the company's EMEA sales, which rose by from EUR 869 million to EUR 1.3 billion, a rise of 50%. The company credited the improvement to cost-cutting measures and profitable projects.

However, combined sales in Asia and North America have fallen from EUR 206 million to EUR 123 million, a decline of around 40%.

Nordex blamed this on market conditions, although the company has closed factories in both regions over the last 18 months.

Speaking about the results, Nordex CEO Jürgen Zeschky said: "We were able to achieve our planned turnaround in 2013.

"It is now very important to ensure that this success is made permanent and, in particular, that we achieve our medium-term goal of further improvement in profitability."

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