Sales and earnings before interest, taxes, depreciation and amortisation (Ebitda) at German-Spanish wind OEM Nordex rose last year amid a soaring demand for its turbines, particularly from Europe and North America, preliminary figures showed.
As the manufacturer didn’t provide all figures of its 2019 results, it was not clear whether the favourable sales and Ebitda numbers also meant Nordex would manage to end its period of net losses.
A positive sign was, though, that Ebitda for the full year rose by 21% to €123.8m when compared to 2018. Results for the first nine months of 2019 had still shown a decline in Ebitda. Sales in 2019 rose to €3.28bn, up from €2.46bn a year earlier.
“The 2019 financial year was in line with our expectations. We achieved all of the targets in our guidance for 2019,” chief executive José Luis Blanco said.
“Demand for our highly efficient turbines remains strong, which means we have a high volume of orders and are starting 2020 with a well-filled order book. We also used the past year to introduce new turbine models to the market and expand our production capacity worldwide.”
The company’s order intake surged by 31% to 6.21GW last year, with Europe (51%) accounting for most orders, followed by North America (28%), Latin America (18%), while rest of the world orders only made up 3%.
Nordex increased its investments to €172.5m in 2019, up from €112.8m in 2018, in the light of the strong order situation.
The turbine maker will release its full 2019 results on March 24.