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Buoyant Nordex ups 2014 guidance

German wind turbine manufacturer Nordex has raised its guidance for this year after a strong first quarter in which sales and orders surged, as the company returned to a net profit compared to a year earlier.

The Nordex management board now expects full-year sales in 2014 ranging from €1.5 ($2.06bn) to €1.6bn, which is €100m more than previously seen.

The company also expects the margin on its earnings before interest and taxes (Ebit margin) to reach 4% to 5%, up on the previous guidance of 3.5% to 4.5%.

Sales at the turbine maker soared by 64% to €424.5m in the first quarter from a year earlier.

The bulk of sales, or 71%, still came from the EMEA region. But sales in the Americas and Asia also developed exceptionally well during the quarter, reaching €124.1m, up from only €30.8m in the year-earlier period.

Successful marketing in Europe helped boost order intake by 71% to €562m in the first quarter.

Nordex reached a consolidated net profit of €9.1m in the first quarter, reverting from a net loss of €8.4m a year earlier, helped by cost-cutting measures and the execution of more profitable orders.

The company’ N117/2400 machine remained its top-selling turbine, accounting for 34% of sales. But its Generation Delta machines, launched only last year, also already contributed to 22% of orders.

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