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Germany

Germany

Nordex sales up by 40% in 2015

GERMANY: Early figures reported by the company indicate that Nordex had a good year in 2015 on the back of its turbine sales in the EMEA region.

Strong performance came from Nordex sales in Europe and Africa
Strong performance came from Nordex sales in Europe and Africa

The German turbine manufacturer reported preliminary sales of €2.43 billion for the financial year 2015, a 40% increase on 2014. Sales in Europe, Middle East and Africa accounted for 88% of the sales, with 11.7% in the Americas, a marginal increase on the 11.5% in 2014.

These figures are released ahead of its annual financial statement on 21 March.

The company also reported a higher profitability, along with a small increase in structural costs, increasing sales per employee by just under 25% to €772,000, compared with €619,000 in 2014.

Earnings before interest and tax increased by 60% from €78 million to €126 million and, despite incurring an unexpected €40 million cost following quality issues of around 385 blades from a supplier, earnings met the company's expectations. Around 150 will be repaired, and 75 replaced, with the work ongoing until this summer.

Figures indicated an increase in production output of 34%, and installations up by 14% - based on 657 turbines installed across 14 countries.

The company received turbine orders worth €2.471 billion over 2015, compared with €1.754 billion in 2014. Firm orders for 2016 are also good, reported the company, at around €1.7 billion, compared with about €1.5 billion at the same time last year.

Nordex announced last year that it would acquire the wind division of Spain's Acciona Corporation, giving it a lead into the Americas and emerging markets. The deal is expected to be concluded this quarter.

The orders and imminent merger with Acciona provide solid foundations for further growth, said Norcex CEO Lars Bondo Krogsgaard.


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