Nordex counts on order boom as sales and profits fall
The wind OEM is still struggling but new orders last year surged by 73% to 4.75GW
Wind OEM Nordex Group saw sales fall and Ebitda profit halve last year, as the company tries to recover by conquering new markets and boosting the sale of advanced turbine models.
Sales fell to €2.46bn ($2.79bn) in 2018 from €3.08bn a year earlier, but came in within a guidance corridor of €2.4-2.6bn. Earnings before interest, tax, depreciation and amortisation (Ebitda) declined to €101.7m last year, compared to €200.7m in 2017. That represented an Ebitda margin of 4.1% (6.5% in 2017), which was also within the expected 4-5% range, said the German group.
Despite struggling on the earnings front, the manufacturer did succeed in lifting its order intake by 73% to 4.75GW, led by deals in Europe and Latin America.
