Nordex announces 7% sales increase

GERMANY: Turbine manufacturer Nordex has announced a 7% increase in sales for the first nine months of the year, with Europe performing particularly well.

The company also had a strong Q3 with an 11% rise in sales compared to the same time in 2011. It was its strongest quarter in terms of sales for the year. Orders in Europe climbed by 16%.

However, the company only expects to reach the lower end of its 2012 target, with €1-1.1 billion in sales predicted.

It also said late delivery of towers and blades had caused additional expense. As a result, its EBIT margin is likely to be 1%, rather than within 1-3%.

Nordex's Q3 EBIT rose from €9.4 billion in 2011 to €15.4 billion, an increase of 63%. Operating losses in Asia have grown, with North America breaking even.

The company also said a 6% reduction in costs had brought the company back to profit, with operating costs reduced by €10 million.

In August, Nordex suffered a €13.1 million loss on the first half of 2012 and today blamed the losses on weak sales in its American and Asian markets.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in