Earnings before interest, taxes, depreciation and amortisation (Ebitda), and including the cost-cutting outlays, totalled €242 million, down from €285.5 million in 2016.
Its sales total also fell 9.4% to €3.08 billion, just short of the €3.1-€3.3 billion guidance set in March 2017. Nordex said part of this fall was due to delays in project execution.
In January, Nordex announced turbine order intake fell 22% year-on-year, blamed on a slowing European market.
Nordex CEO Jose Luis Blanco said as a result of the company's cost-cutting programme, the German manufacturer had "permanently" saved €45 million in structural costs, including a reduction in the number of full-time staff.
"In 2017, we took intensive steps to adjust to the new market conditions. Thus, we have lowered our structural costs permanently and sped up the roll-out of new and substantially more efficient turbines in the market," Blanco said.
Nordex will publish full results and outlook for 2018 at the end of March 2018.