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Nordex heralds significant advances in Europe in annual report

Having never had a significant share of the American market, Nordex is unaffected by the current uncertainty over the federal Production Tax Credit. But it is set for significant advances into European markets, particularly France, Italy, England, Scotland and Ireland. Sales in Germany, its home market, are expected to start tailing off, though they accounted for 77% of Nordex business in the past year. In its annual report for fiscal year 2001/02, which ran until end- September, the German-Danish company reports a profit of EUR 17.8 million and a turnover of EUR 445 million -- both up by 26%. For next fiscal year Nordex forecasts a turnover of EUR 520 million and a profit of 4.5%.

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