Americas boost Nordex in first half

German wind turbine group Nordex said sales increases in the Americas helped deliver strong growth in the first half of the year.

Nordex boosted sales to €815.4m in the January to June period, up 23% on the same stage in 2013.

Operating profits (Ebit) more than doubled to €37.1m, and the wind group’s net profit grew to €16.5m from a year-earlier €1.3m. Profitability was boosted by economies of scale and lower structural costs, said the group.

Nordex said: “With the EMEA business remaining stable at a high level, growth was materially driven by the group’s successes in new markets in Latin America and Asia. Sales in the Americas in particular rose at a high three-digit rate.”

New installed capacity rose 19% to 667MW.

Order intake in the first half of the year was €908.9m, up from €839.4m. The firmly-financed order book rose by €100m to €1.4bn.

More than 17% of the new orders are for the company’s Generation Delta turbines, Nordex said.

Nordex reaffirmed its guidance for the full-year 2014 – namely sales of €1.5 - 1.6bn, an Ebit margin of 4% - 5% and an order intake of up to €1.7bn.

CEO Jürgen Zeschky told investors the new growth markets of Latin America had proved fruitful for Nordex, while it had also benefited from the German domestic installation spike that accompanied the amended EEG renewables law.

“What is more important, however, are indications that our customers are also planning extensive activities for the coming years," he added.