Europe helps Nordex back to profit

Jürgen Zeschky

Jürgen Zeschky

German wind turbine manufacturer Nordex returned to profit last year amid a jump in sales in its European core market as well as cost-cutting measures.

Sales rose around 33% in 2013 to €1.43bn ($1.96bn) thanks to a 50% rise in the company’s EMEA business to €1.31bn, according to provisional annual financial figures.

Nordex said it was able to buck a European market trend, as new installed capacity actually contracted by almost 6% in the continent’s wind industry last year.

In the US Nordex's sales went down, while they recovered in Asia. In both regions taken together, sales dropped to €123m in 2013 from €206m in 2012.

Operating earnings before interest and taxes came in line with company expectations at €44.3m, reversing a €61.1m Log in to read complete article.

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