Nordex upbeat after €75m bill to sort China, US

German wind group Nordex expects sales and profits to rise this year, after taking a one-off hit of €75m ($97.5m) in 2012 to pay for reorganising its struggling units in China and the US.

Nordex predicts sales of €1.2bn-€1.3bn in 2013, up from €1.075bn in 2012, it said as it unveiled latest preliminary full-year results. Last year's sales were a 17% improvement on 2011's figure.

The company expects an Ebit margin of 2%-3% this year, up from about 1% in 2012.

The turbine manufacturer booked one-off costs of €75m for 2012 to cover the expense incurred of bringing its Chinese and American operations into line with the dwindling new business Nordex is securing in those regions. The figure was at the top of the scale it warned…

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