Buoyant Nordex ups 2014 guidance

Nordex is upping its blade production capabilities

The outlook is sunny for Nordex's 2014 sales

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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