Nordex sales jump 21%

GERMANY: Nordex has posted results showing a 21% increase in sales in 2014 helped by stronger performance in Asia and the Americas.

The N117 turbine was the best selling in 2014

The turbine manufacturer recorded €1.7 billion in sales, which helped boost earnings before interest and tax (EBIT) by 76%, to €78 million.

Turbine installations were also up, with 1.5GW put in the ground in 2014, 19% more than the previous year. The top selling turbine was the N117/2400 with a 42% share of all sales.

Roughly 79% of this capacity was in the Europe, Middle-East and Africa (EMEA) region, with 11% in the Americas, and 10% in Asia.

This compares with 2013's figures of 94% in EMEA, 4% in the Americas, and 2% in Asia. This shows a clear shift away from the company's heavy dependence on the European market.

However, Nordex's single largest market remained Germany, with 412MW installed, compared with 251MW in 2013.

The company is targeting sales of €2 billion by 2017, with an EBIT margin of 7-8%.