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Germany

Germany

Nordex sales up 35% following Acciona merger

GERMANY: The Nordex group, now incorporating Acciona Windpower, has reported sales up 35% to €1.5 billion in the first half of 2016, as the company looks to expand in new markets.

Sales for the Nordex Group - now with Acciona Windpower - were up 35% in H1 2016
Sales for the Nordex Group - now with Acciona Windpower - were up 35% in H1 2016

The turbine manufacturer reported pretax earnings (Ebtida) of €136.6 million, a 55.4% increase year-on-year.

Its merger with Acciona Windpower — the turbine manufacturing arm of the Acciona group — was completed in the second quarter.

Over 53% of Nordex's order intake in the second quarter was through Acciona, the group said.

In the remaining six months of 2016, Nordex said it expects €2 billion of new orders.

"There are already signs that new markets and the United States will make a considerably greater contribution," said Nordex CEO Lars Krogsgaard.

"The sharp improvement in profitability, which is of central importance for us, is particularly pleasing."

Earlier this week, but after the H1 accounting period, Nordex won a 243MW deal to supply an unnamed project in the US with Acciona turbines.

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