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Germany

Germany

Nordex realising Acciona benefit

GERMANY: Nordex earnings and orders increase in the first nine months of 2016, as the acquisition of Acciona Windpower takes full affect.

Nordex is expecting a busy Q4
Nordex is expecting a busy Q4

Nordex Ebitda for the nine months to the end of September totaled €203 million, up 47% compared to the same period inf 2015. 

Order intake in the nine-month period amounted to €2.19 billion, up 10% on a year earlier. Nordex said the addition of Acciona Windpower to the group contributed 25% of the order total, "and is expected to play a greater role in the final quarter of the year". 

During the third quarter (three months to end of September, Nordex orders totalled €841 million. 

"The main sources of new business were Germany and North and South America. Order intake from Germany in the third quarter rose by €216 million to €741 million and new business from the Americas [climbed] by €318 million to €523 million," Nordex said.

Nordex acquired the turbine manufacturing arm of Spain's Acciona group during the second quarter of the year. 

The company is expecting to perform strongly in the final quarter. "This year, our business is being dominated by the fourth quarter to an unusually strong degree," said Nordex CEO Lars Krogsgaard. 

'This, of course, is exerting pressure on our entire organisation. At the same time, however, it places us in a good position to achieve our full-year target for 2016," he added. 

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